FAQ EQ Bank

Frequently Asked Questions

Ye s-Deposit applicants in EQ Bank and Equitable Bank are protected by CDIC up to $ 100 per paid per deposit, as described in the CDIC's "deposit protection". 。 For example, personal accounts, GICS, US dollar accounts, and deposits in the Equitable Bank will be covered up to $ 100. 000. Insurance is applied separately for deposits for the joint account.

EQ Bank is a trade name of Equitable Bank. Equity Bank is a member of CDIC.

How long does EQ Bank hold my funds for? Copy

In our Bank's Daddl e-built savings, payments by check or electronic remittance (EFT) can be used for 5 business days from the payment date. In other words, the funds you have deposited can be actually used from the 6th business day.

For example, if you pay on Monday, you will be able to use the funds the next Tuesday.

The deposit is immediately reflected in the account balance, but it is not possible to withdraw or move for funds until the waiting period is over. However, even during the waiting period, interest will be given according to the amount of payment. For more information, see our fund policy.

In the case of a US dollar account, the deposit is immediately reflected in the account balance, but the entire deposit can be accessed until the waiting period is over. In other words, you cannot remit your own funds. Except for a certain exception, the normal period when funding is stored in your account is 5 business days from the payment date. The waiting period may be extended. See the US dollar account fees and features for details.

Are there any holds on direct deposits? Copy

You can use it immediately after payment.

Who is EQ Bank? Copy

EQ Bank offers digital banking to Canadians. EQ Bank officially started service in January 2016.

The EQ Bank, headquartered in Toronto, is a trade name of Equitable Bank. Equity Bank is a commendation to the federal regulations II, which has more than 1, 800 employees throughout Canada.

Who is Equitable Bank? Copy

Equity Bank, a Canadian Challenger Bank, is the seventh largest for an independent schedule I Bank at the time. EQ Bank is the digital division of Equitable Bank. See www. Equitablebank. ca.

How does EQ Bank make money? Copy

That's a good question! Banks usually accept deposits from customers, make loans to other customers, and earn their interests. We allocate deposits from EQ Bank for Equitable Bank mortgages and commercial loans, gaining interest.

As a bank without a branch, we can reduce operating costs, and we are returning the savings to our customers in the form of daily interest rates on personal accounts.

Is EQ Bank hiring? I want to come work for you! Copy

We are always looking for excellent human resources! See the latest job information.

Opening an account

How do I open an EQ Bank account? Copy

Opening an account is very easy! Please access www. Eqbank. Ca to open an account and apply online.

Who can open an EQ Bank account? Copy

For customers in EQ Bank

Being a Canadian resident
The age of the majority of Canada (18 or 19 years old depending on where you live).
Have a social security number

Note: Online registration requires a Canadian mobile phone number.

Does EQ Bank pull my credit report when I open an account? Copy

As part of the online authentication process, we will conduct a "soft" credit survey. Updating your credit score is not affected, and it is not visible to other third parties watching your credit report.

Why do I need to provide my Social Insurance Number (SIN) when opening an account? Copy

The Income Tax Law requires all banks to obtain your social security number when opening an account (including personal accounts and GICS). Banks are obliged to report the interest you have gained to the Canada Revenue Agency every year.

Does EQ Bank support Mint? Copy

We do not officially support access to your personal account through the Mint.

Does EQ Bank offer business accounts? Copy

Currently, it is only provided by personal accounts, but we are working to make business accounts available. If you would like to notify you of the start of the service, please register here on the Watering List.

Can I use EQ Bank if I live outside of Canada? Copy

You can continue to access existing accounts while traveling abroad. However, if you have an EQ bank account, you must be a Canadian resident to maintain your account.

What is online identity verification? Copy

Online authentication guarantees that you will open an account at our company instead of using your information. Use selfie photos to make sure your face and ID card match. Face photos are deleted after authentication.

Why do you need my photo ID for online identity verification? Copy

The Company is required by law to verify the identity of the person who wishes to open an account. In addition, by checking the ID card with photos, we will protect the account of customers and customers from fraud.

What happens to my photos after online identity verification? Copy

Photos submitted in the online authentication process are safely deleted when identity verification is completed.

Why do I need a mobile device for online identity verification? Copy

In order to secure account security, the EQ Bank has confirmed the identity by tw o-step authentication. In the EQ Bank, use your mobile device to make sure you are the person.

Why is EQ Bank asking me to verify my identity through Canada Post? Copy

If you are unable to verify your identity through TransUnion (credit reporting agency) or the online identity verification, please visit a Canada Post office. Similar to presenting your government-issued ID at a bank branch, we have partnered with Canada Post to make verifying your identity as quickly and conveniently as possible. Find a Canada Post office near you.

What do I need to bring with me to Canada Post? Copy

What you will need

One government-issued photo ID
One proof of address document (if your photo ID does not show your current address)
Canada Post DSS number (Learn what Canada Post DSS number is and why it is important.)

What is my Canada Post DSS number and why is it important? Copy

If you are unable to verify your identity through TransUnion (credit reporting service) or the online identity verification, please visit a Canada Post office and provide them with your DSS number. The DSS number (or barcode) is given to Canada Post so that Canada Post can verify your identity on our behalf based on the information provided in your application. Your Canada Post DSS number will be emailed to you, but if you are unable to find it, please feel free to call customer service.

What happens if I don’t go to a Canada Post outlet in the next 60 days? Copy

Canada Post DSS numbers expire after 60 days. If you want to continue your application after 60 days, you will need to contact customer service to obtain a new DSS number.

Why am I being directed to contact TransUnion to request an Online Consumer Disclosure? Copy

An Electronic Consumer Disclosure is a detailed report of all information in your credit file to verify the data reported to TransUnion. The information you provide on your EQ Bank application must match exactly with the information in your TransUnion credit file.

Does EQ Bank offer foreign exchange or USD accounts? Copy

Good news: We have both! We offer USD accounts and cheap, fast and easy international transfers. Learn more here.

Please note: USD accounts and international transfers are currently not available in Quebec. Currently not available in Quebec.

What type of products does EQ Bank offer? Copy

We offer High Interest Savings Accounts (Individual Accounts), High Interest Savings Accounts (Joint Accounts), TFSA Savings Accounts, RSP Savings Accounts, FHSA Savings Accounts, GICS (Guaranteed Investment Securities), International Transfers and USD Accounts.

Note: USD accounts, RSP Savings Accounts, FHSA Savings Accounts and International Transfers are currently not available in Quebec.

Do you offer accounts for students or seniors? Copy

From students to seniors, everyone is welcome! We offer the same banking products to everyone. However, there are some basic requirements for EQ Bank customers:

Be a Canadian resident

Being a Canadian resident
The age of the majority of Canada (18 or 19 years old depending on where you live).
Have a social security number

Can a non-resident open a bank account in Canada? Copy

As part of our online verification process, EQ Bank conducts a "soft" credit check. Your credit score is not considered when opening an account with EQ Bank.

Does EQ Bank look at my credit score when I sign up? Copy

And we would love to hear from you if you would recommend EQ Bank to others! To share your referral link, log in and click "Tell a Friend."

Does EQ Bank have a referral program? Copy

Using your account

How do I find my account number? Copy

It's easy! Log in to your account on the EQ Bank mobile app and click "Deposit" on the bottom right. Enter the amount of the cheque in the "Amount" field and select the account you want to deposit to. Photograph both the front and back of the cheque and click "Deposit."

How do I deposit a cheque using the EQ Bank mobile app? Copy

There are no monthly bank fees! We don't charge any account fees, Interac E-Transfers® sending or receiving fees, bill payment fees, overdraft fees or inactive account fees. Because your money is yours.

What kind of fees are associated with my EQ Bank Accounts? Copy

See a list of fees we don't charge:

To add a new biller on a web browser, log into your account and select Manage Billers from the Accounts tab. Click Add New Biller and enter the biller's name. Search for your biller and select the appropriate name. Enter your account number and click Add to confirm.

How do I add a new biller to my EQ Bank account? Copy

To edit or update a biller using the mobile app, log into your account, tap the hamburger menu in the top right and select Billers. Tap Add New Biller and enter the biller's name. Search for your biller and select the appropriate name. Enter your account number and click Add to confirm.

To edit or update a biller on a web browser, log into your account and select Manage Billers from the Bills tab. Once you find the biller you want to edit, select Remove and reset the biller with your updated information.

How do I edit or update an existing biller in my EQ Bank account? Copy

To edit or update a biller using the mobile app, log into your account, tap the hamburger menu in the top right corner and select "Billers." Find the biller, select "Edit," and tap the trash icon. Redisplay the biller with your updated information.

In the EQ Bank Mobile App, sign in to your account and click the navigation menu in the top right. Click "Direct Deposits and Payments," then click "Download PDF/Void Check."

How do I set up a direct deposit to my Personal Account? Copy

Once you create this blank check, give it to the company you want to pay.

EQ Bank 4 Cards are free to use at any ATM in Canada. We don't charge you any fees for withdrawals at ATMs in Canada, and we'll refund any fees or surcharges charged by Canadian ATM providers within 10 business days. Order your free EQ Tank Card today.

How do I access cash with my Personal Account? Copy

You can also use our mobile app or online banking to easily transfer funds electronically between your bank accounts or deposit funds. Use E-Transfer or Electronic Funds Transfer (EFT) to transfer funds to a linked account, and then send cash wherever you want.

Use the EQ Bank mobile app to log in to your account. Your current interest rate will be displayed on your dashboard.

What is the current rate on my savings account? Copy

To view your current interest rate without logging in, click the following links:

Individual Accounts

Click on Personal Accounts.
TFSA Savings Accounts
USD Accounts
To unlock your account, click on EQ Please call the bank's customer service team at 1-844-437-2265 (844-4EQ-BANK).

My account is locked out. What do I do to regain access? Copy

You can download the EQ Bank mobile app for iOS here.

Where can I download the EQ Bank mobile app? Copy

You can download the EQ Bank mobile app for Android here.

The EQ Bank app is compatible with Android 10 and above, as Android 9 and below are no longer receiving regular security updates from Google.

Which versions of Android does the EQ Bank app support? Copy

Emailing with a One-Time Code (OTP)

What can I do if I don’t receive my one-time passcode (OTP)? Copy

Depending on your network environment and email service provider, it may take a few minutes for the OTP to be delivered. Try updating your email app.

If you are getting email on your mobile device, please check the following:

You have a strong internet connection

Make sure you have strong internet access. Make sure you have strong internet access.
If you don't have a "flying plane" on your phone, make sure you have a secure connection.
Your battery saver feature is not working. You may not receive emails or notifications.
Add eqbank_noreply@eqbank. ca to your safe senders list via your email service provider. If our email address appears on the list, try requesting another OTP. Below is an example of how to add EQ Bank to your safe senders list:

Find the "Contact" icon under the Gmail 1. Gmail app. 2. After selecting the "Contact" icon, click "Create Contact" and enter the details. Add eqbank_nore style@eqbank. ca to your email address. 3. Click Save to complete. For Microsoft Hotmail/Outlook/Live 1. Select Options at the top right of the mail provider. 2. Click the safe sender and the sending the blocked sender. 3. Click on the Safe Sender and enter "Eqbank_nore style@eqbank. ca" on the white list.

Click the address book icon under the yahoo 1. yahoo. Email logo! Click the address book icon under the email logo. 2. Click "New Contact Information" and add Eqbank_norePly@eqbank. ca to the whitelist.

The procedure varies depending on the other mail service provider Mail service provider. See "How to add email to a safe sender list" on the e-mail provider website.

If OTP is not distributed, please call from 1-844-437-2265 (open all year round, 8:00 am to midnight (eastern United States)).

SMS unique password (OTP)

SMS OTP is sent from "372265".

Please check the following for mobile devices:

Sufficient Internet connection

Make sure you have strong internet access. Make sure you have strong internet access.
If you don't have a "flying plane" on your phone, make sure you have a secure connection.
"The spam prevention function is not enabled. This may not reach email or notification.
Add eqbank_noreply@eqbank. ca to your safe senders list via your email service provider. If our email address appears on the list, try requesting another OTP. Below is an example of how to add EQ Bank to your safe senders list:

I forgot my password. What do I do? Copy

To unlock your account, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-Bank)).

In the EQ bank mobile app, log in to the account and click the navigation menu on the upper right. Account management Click "Click and edit" Profile under the "Underneath".

How do I change or update my personal profile information? Copy

Use a web browser to log in to online banking. Click "Edit" from "Profile".

If you are using the EQ Bank mobile app, log in to the account and click the navigation menu on the upper right. Click "Profile" → "Edit" under "account management".

How do I change my mailing address? Copy

If you are moving from another state to Quebec, please contact 1-844-437-2265 (844-4EQ-Bank). If you have a US dollar account, an RSP savings account, or an RSP GICS account, you need to cancel these accounts. In addition, you will not be able to use overseas remittance services and remittances from EQ to EQ.

Use the EQ Bank mobile app, log in to your account and click the navigation menu on the upper right. Click "View Documents" under "Manage My Account" and then click "View Statements".

How do I download my monthly account statement? Copy

Use the EQ Bank mobile app, log in to your account, and click the navigation menu on the upper right. Manage My Account PROFILE "Click" "Then" then click Edit.

How do I change the email address I use to sign in with EQ Bank? Copy

Use a web browser to log in to online banking. Click "Edit" from "Profile".

If you are using the EQ Bank mobile app, log in to the account and click the navigation menu on the upper right. Click "Profile" → "Edit" under "account management".

What is EQ Bank’s transit and institution number? Copy

The EQ Bank account is a unique number of 9 digits. You can also create a blank check by signing up to the EQ bank mobile app or online banking.

Engine number	80002
EQ bank passing number and engine number	623

You can check the T5 tax form by sig n-in to your account from the EQ Bank mobile app or online banking website. After logging in, open the "My Accounts" tab and click "Tax Documents".

Where can I find my T5 tax slip? Copy

T5 tax returns can be downloaded by PDF files every year by February 28.

When will I receive my T5 tax slip for the year? Copy

If you have a problem with the T5 tax return, please call the EQ Bank customer service team (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

What should I do if I think there’s something wrong on my T5 tax slip? Copy

There are three ways to deposit to the EQ bank account:

How do I deposit funds into my Personal Account? Copy

Interac E-Transfer® (Interrack Electronic Remittance

How to deposit into your link account through e-electronic remittance (EFT).
Mobile check deposit from EQ Bank Mobile App
You can deposit directly by sending Interac E-Transfer® using another bank account. The funds sent in this way can be used immediately, not usually covered.

Interac e-Transfer ® :

Note: Sending and receiving Interac E-Transfer® in EQ Bank is free, but other banks may be charged for sending and receiving fees. In addition, each bank may set the limit per day of the transfer by Intertoac E-Transfer®, so if you want a small amount (usually $ 5, 000 or less), this method is used. Please use it.

You can use the EQ Bank mobile app or online banking to make a payment from the linked account to the EQ bank account up to 100, 000 yen per time. Multiple transactions are possible a day. The payment period is applied to the deposited funds. However, interest is immediately gained.

Electronic Funds Transfer (EFT):

If you use the EQ bank mobile app, you can deposit up to $ 100. 000 for each check. You can deposit multiple checks a day. The waiting period is applied to the deposit fund. However, interest is immediately gained.

Mobile Cheque Deposit:

Usually, the funds deposited by the check or electronic remittance (EFT) are stored for 5 business days from the deposit date. In other words, the deposit funds will be actually available from 6 business days, including the deposit date. For example, if you pay on Monday, you will be able to use the funds the next Tuesday.

The deposit is immediately reflected in the account balance, but you cannot withdraw or transfer until the standby period has passed. Even during the standby period, interest to the deposit amount will continue. For more information, see the fund policy. Click here for other transactions.

There are three ways to withdraw funds from the EQ bank account:

How do I withdraw funds from my Personal Account? Copy

Ditter at ATM using EQ Bank

Interac drawer from ATM by electronic remittance
Dissemination by electronic remittance (EFT) to the link account
EQ Bank Card:

The funds deposited to the card can be withdrawn from ATMs in Canada for free. There is no commission to distribute at ATMs in Canada. Fees and surcharges charged from Canadian ATM providers will be refunded within 10 business days. Click here for details of EQ Bank 4 cards.

Interac E-Transfer®:

If you send a free Interac E-Transfer® from the EQ bank account, you will be able to withdraw money immediately. The funds sent in this way can be used immediately, not usually covered.

Attention Some banks may set the upper limit per day for the amount you can receive at the Interac E-Transfer® (InterAc E-Transfer®), so this method is used for a small amount of money. Please use it.

Electronic remittance (EFT):

Using the EQ Bank mobile app or online banking, you can remittance up to $ 30. 000 per time from the EQ bank account to the linked bank account. Multiple transactions are possible a day. It takes 2-3 business days to be reflected in the linked bank account.

It takes 2-3 business days for the link to the bank account.

If I’m moving money from my EQ Bank account to my linked bank account, how long will it take for the money to arrive? Copy

Log in to your account with the mobile app of EQ Bank, and click "Payment of invoice" from the "account" at the bottom of the screen.

How do I pay a bill using my Personal Account? Copy

You can cancel the payment until one business day of the payment date.

How do I cancel a future-dated bill payment? Copy

To cancel the payment with a web browser, log in to the account, click the "Account" in the top navigation menu, and select "Payment".

To cancel the use of a mobile app, log in to the account, click "Account" in the lower navigation menu, and select "Unpaid request". From here, you can delete unpaid or regular transactions.

Use a web browser to log in to online banking. From the control panel, click your current deposit account. Click the download icon (left of the printer icon) to download CSV files including account transactions.

Can I export my data to use with accounting or budgeting software? Copy

Yes, you can. Log in to the PayPal account, click "Wallet", select "Bank Login", scroll down and click "Search for Other Banks". EQ Bank/Equitable Bank is not currently displayed, so click "Enter Bank Information" to enter the following information:

Can I link my PayPal account to my EQ Bank account? Copy

Bank account number: 80002

80002 engine number: 623

Add an account number and link to PayPal and EQ Bank accounts.

Use the EQ Bank mobile app to log in to the account and click the navigation menu on the upper right. In the "Management of the Account Management, click" External Link Account "and click" Link another account ".

How do I link a bank account to my EQ Bank account? Copy

Log in to online banking using a web browser. Click "Linked Accounts" in the Transfers section and click "Link Another Bank Account".

Note: Only the portfolio of the EQ Bank can be linked to the Canadian financial institution's ordinary deposit account, the current deposit account, and the US dollar account of financial institutions in Canada. Business accounts, US financial institutions US dollar accounts, or other types of accounts are not available.

To delete the linked account, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-Bank)) or start a live chat.

How can I delete a linked bank account? Copy

Delete and cancel your savings account is available by EQ Bank Customer Service (Tel: 1-844-437-2265 (844-4EQ-BANK)) or live chat.

How can I delete a savings account? Copy

To delete or cancel your savings account, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

How can I close my savings account? Copy

To delete or cancel your savings account, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

What happens to my account if I die? Copy

Please mail the original or copy of the documents related to the heritage to the following:

I’m settling an estate. How do I send estate documentation to EQ Bank? Copy

EQ Bank --Digital Bankin g-Estates Department 30 ST. CLAIR Avenue West, Suite 700, Toronto, on M4V 3A1.

Documents are shared in the appropriate department as needed, so you can only submit them once. Please note that the submitted documents will not be returned.

The law requires that the deceased's instructions are confirmed to confirm that they are. We hope that the identity verification work of the will executor is one of the ways to ensure that the last instructions of the customer are ensured.

I’m settling an estate. Why do I need to complete an Identification Verification Form? Copy

You can download the authentication form here.

This form allows you to check the correct postal address for sending checks and guarantee that there is no problem with the check after the account is closed.

I’m settling an estate. Why do I need to complete a Direction and Indemnity Form? Copy

You can download the instructions and refund paper here.

Please prepare the following:

I’m settling an estate in Quebec. What documentation does EQ Bank require? Copy

Original or notary copy of death certificate

Fair copy of a will, or a copy of the death certificate, or a certificate of death certificate
Instructed and compensation
Copy of death certificate or deceased's will
Also, depending on the type of account held by the deceased, you may need to submit more documents.

If you have a notarized will, you do not need a court order or will.

Please do not. You can also keep your account balance of $ 0.

Do I need to maintain a minimum balance in my EQ Bank account? Copy

If you do not use it for 24 months, your account will be considered inactive. If your account is inactive and has no balance, it will be closed without notice. If your account is inactive and your balance is $ 0 or more, you will send a no n-active account notification by e-mail. The EQ Bank does not charge a dormant account. For more information about dormant accounts, please refer to the "Dormitory" of the personal account rules.

What happens if I don’t sign in to my account for a while? Are there any dormant account fees? Copy

You can link to up to 10 other external accounts to the EQ bank account.

How many bank accounts can I link to my Personal Account? Copy

Remittance from EQ to EQ can be sent directly to other EQ bank customers for free. You can remittance from EQ to EQ directly to other EQ bank customers for free.

What is an EQ to EQ Transfer? (not available in Quebec) Copy

Click here for remittance from EQ to EQ:

Use the EQ bank mobile app to log in to your account. Click "Transfer" → "Transfer to EQ Connection" at the bottom of the screen.

Unfortunately, we cannot remittance at this time.

Does EQ Bank offer wire transfers? Copy

EQ Bank accounts (including personal accounts, joint accounts, ordinary deposit accounts, and US dollars accounts) can be opened up to eight accounts. In addition, you can open a TFSA deposit account and an RSP savings account.

How many savings accounts can I have with EQ Bank? Copy

Use a web browser to log in to online banking. Click "Transfers" Pending Transfers ". Recurring Transactions click" Delete "under the selected transaction.

How do I change or cancel my recurring transfers? Copy

Cancellation of the transfer is possible until one business day of the transfer date.

How do I cancel a future-dated transfer to or from an external bank account? Copy

To cancel remittance in a web browser, log in to your account, click "Remove" in the top navigation menu, and select "Remove".

To cancel the use of a mobile app, you can log in and scroll down to "future transactions" and display and delete the transactions during hold.

Interac E-Transfer® allows you to remittance quickly, easy, and safely from anywhere!

Interac e-Transfer ®

What is an Interac e-Transfer ® ? Copy

If you use the Interac E-Transfer®, you can send money to anyone if you have a Canadian mobile phone number or e-mail address and a Canadian bank account in a Canadian financial institution.

Very easy!

How do I send an Interac e-Transfer ® ? Copy

From the desktop

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Enter the remittance and click "Confirm".
Check the details and select "Remittance".
From a mobile app

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Enter the remittance and click "Review".
Check the details and select "Remittance".
This is done! You can check the remittance status on the "remittance activity page" page.

In the case of Interac E-Transfer®, which is less than $ 250, remittance is immediately shipped.

How long does it take for an Interac e-Transfer ® to process? Copy

If you have a remittance history with the recipient (if you have one remittance history), you will be transferred as much as you want (within the limit of the account).

Otherwise, it may take up to 30 minutes for the recipient to receive the Interac E-Transfer® notification.

If you do not receive Interac E-Transfer®, make sure you use the correct e-mail address or phone number. Please check if there are many mistakes such as spells and symbols.

Depending on the remittance financial institution, remittance may be canceled after remittance. Make sure you have been deposited in your account.

When someone sends Interac E-Transfer® (Intertack electronic remittance), you will receive an email or text notification to the customer that the remittance has been made.

How do I receive and accept an Interac e-Transfer ® ? Copy

Click the link in the notification and select EQ Bank as a financial institution.

When you log in to the account, the "Receive funds" screen is displayed.

Confirm that the "Payment" Toggles are selected, answer questions about security, select a deposit account and click Payment.

If Autodeposit is enabled, remittance is automatically deposited to your account.

Depending on the remittance financial institution, it may be canceled after remittance. Make sure you have been deposited in your account.

When someone sends Interac E-Transfer® (Intertack electronic remittance), you will receive an email or text notification to the customer that the remittance has been made.

Do I have to pay to send or receive an Interac e-Transfer ® ? Copy

Interque's E-transfer® can be sent from a personal account and a joint account.

From which accounts can I send an Interac e-Transfer ® ? Copy

From the desktop

How do I cancel an Interac e-Transfer ® ? Copy

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Enter the remittance and click "Confirm".
Click the arrow on the right side of the remittance and select the remittance to cancel.
Click on the remittance to "Cancel the Remove" and follow the instructions.
From a mobile app

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Tap "Transfer Activity" from the floating button at the bottom of the screen to display the activity of the Interac E-Transfer®.
Tap the transfer order and select the transfer you want to cancel.
Tap "Cancellation of Transfer" and follow the instructions on the screen.
You will not be able to cancel after the reception of the Interac E-Transfer® (Intertack electronic remittance) is completed.

From the desktop

How can I see my Interac e-Transfer ® status or history? Copy

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Enter the remittance and click "Confirm".
From a mobile app

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Tap "Transfer Activity" from the floating button at the bottom of the screen to display the activity of the Interac E-Transfer®.
Tap the transfer order and select the transfer you want to cancel.

Interac E-Transfer® expires 30 days after you send it, after which the recipient cannot deposit funds.

When does a pending Interac e-Transfer ® expire? Copy

Click on the EQ Bank logo in your email, log into your account, and click "RedePosit Money".

You can send the following from your EQ Bank account:

Is there a dollar limit on sending or receiving an Interac e-Transfer ® ? Copy

Up to $5, 000 per 24 hours

Up to $10, 000 per 7 days
Up to $20, 000 per 30 days
When you receive funds from your EQ Bank account via Interac E-Transfer®, you can receive the following:

Up to $25, 000 per transaction

Click here to see your account limits.

Not at this time. However, if you receive a transfer request, EQ Bank can fulfill it for you:

Can I send a money request with EQ Bank? Copy

Click on the link in the transfer request notification

Select EQ Bank as your financial institution
Log in to your account and follow the instructions on the "Make a transfer request" screen.
Unfortunately, not at this time.

Can I schedule a one-time or reoccurring Interac e-Transfer ® ? Copy

AutodePosit is a feature of Interac E-Transfer® that makes deposits easier.

What is Autodeposit? Copy

When you sign up for AutodePosit, funds sent via Interac E-Transfer® will be automatically deposited into your EQ Bank account without any password or security questions.

Depending on the sender's financial institution, the transfer may be canceled after it has been sent. Make sure the funds are in your account.

When someone sends Interac E-Transfer® (Intertack electronic remittance), you will receive an email or text notification to the customer that the remittance has been made.

How do I set up Autodeposit? Copy

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Enter the remittance and click "Confirm".
Enter your email address or mobile number and select the account you want to deposit to.
You will receive an email or text message from Interac®:

For email, select the "Full Registration" option to review and complete your AutodePosit setup.

For text message, access the "Full Registration" option via the link in the text message.
For mobile app

Select "Remittance" from the top navigation menu and select "Interac E-Transfer®" (you can also select "Interac E-Transfer®" from the quick action menu of the control panel).
Tap "Transfer Activity" from the floating button at the bottom of the screen to display the activity of the Interac E-Transfer®.
Enter your email address or mobile phone number and select an account to deposit.
You will receive an email or text message from Interac®:

In the case of email, select the Complete Registration option and confirm and complete the Autodeposit settings.

For text message, access the "Full Registration" option via the link in the text message.
For mobile app

You cannot register with Autodeposit with the same email address or mobile phone number in multiple financial institutions.

Can I use an email address or mobile number that’s associated with an existing Autodeposit registration at another financial institution? Copy

If you are registered with a financial institution other than the EQ bank, you can register an auto deposit from the EQ bank.

When the EQ bank registration is completed, the funds sent to the email address or mobile phone number will be deposited into the EQ Bank account.

Autodeposit settings are completed and can be used immediately.

What do the Autodeposit registration statuses mean? Copy

To complete the setup, you need to confirm registration within 24 hours. Check your email address or text message from Interac.

The registration contents are currently being confirmed. Please check the latest situation later.

I have not received Interac E-Transfer® for more than 12 months using this email or phone number. Cancel registration or r e-register.

To update your deposit account, select the "Edit" link next to the valid Autodeposit registration.

How do I edit an existing Autodeposit registration with EQ Bank? Copy

To change your email address or mobile phone number, delete the record and set a new one.

You can introduce friends and family members who have not yet started the account registration procedure, not currently EQ Bank customers.

Refer a Friend

Who can I refer to open an EQ Bank account? Copy

Log in to the EQ Bank account, click "Introducing friends" and look for your exclusive introduction link. Share this link with your friends.

How do I make a referral? Copy

Note: In order to receive the introduction bonus, the introduced person needs to open an EQ bank account using your link and deposit at least $ 100 within 30 days after opening an account.

The more friends you introduce, the more bonuses you can get! A new registration from your Unique Link and will give you $ 20 (up to $ 500 for a lifetime) per person who has paid at least $ 100 within 30 days.

How many friends can I refer? Copy

Also, new customers will receive a $ 20 introduction bonus after depositing the account. For more information, see the full text of the Terms of Use.

If your friends or family are not yet using EQ banks, you can apply for an EQ bank account using your special introduction link. Once the account is opened, please send us a information on opening a joint account.

Can I refer someone I want to open a Joint Account with? Copy

Unfortunately, if the customer is registered using a link from an invitation of a joint account, it is not subject to the referral.

To use your friend's introduction program, your friend must sign up using your special referral link and deposit at least $ 100 into your account within 30 days.

My friend is already an EQ Bank customer, but I was the one who told them about EQ Bank. Can I still get a referral bonus? Copy

If you already have an account, log in to the EQ Bank account and click "Introduce your friends" to display a special introduction link. The introducer needs to open an EQ bank account using the link and deposit at least $ 100 within 30 days. If the one who is introduced is deposited to the account, the bonus will usually be deposited to your account within 3-5 business days.

What do I need to do to qualify for the referral bonus? Copy

If you are a new customer, sign up from the correct referral link to get a referral bonus. You need to deposit at least $ 100 into an account within 30 days, and bonuses are usually deposited into your account within 3-5 business days.

The referral bonus will be paid after the target deposit is completed. Bonuses are usually deposited directly to your account within 3-5 business days.

How will I receive my referral bonus? Copy

Your unique introduction link has no expiration date. However, in order for both people to receive the bonus, a new customer must make at least $ 100 within 30 days after opening an account.

How long is my referral link valid for? Copy

You can only accept one referral offer by signing up through the unique introduction link of that person.

If I was referred by more than one person, can I qualify for more than one referral bonus? Copy

Introduction bonuses are paid when the target deposit is completed. Usually, within 3-5 business days, you will be deposited directly to your account.

How can I confirm if I have received my referral bonus? Copy

Your unique introduction link has no expiration date. However, in order for both people to receive the bonus, a new customer must make at least $ 100 within 30 days after opening an account.

In progress means that the person introduced has not yet opened an EQ bank account or has not completed a minimum of $ 100.

Completion means that the referral has succeeded and the referral bonus has been paid.

Exhibits means that the person introduced signed up to opening an EQ bank account, but did not complete a minimum of $ 100 within 30 days.

Unfortunately, bonuses are not applied. Introductory bonuses are applied only to accounts that are opened using unique referral links.

I opened a Personal Account without using my friend’s referral invitation. Can I still get my bonus? Copy

No, that's not the case. To get an invitation from a friend, just click on the unique link in the invitation. When the URL is displayed, check the browser bar.

Do I need a referral code in order to accept my invitation? Copy

Ta x-exempt savings accounts (TFSA) are registered investment accounts or savings accounts that can be used by tax exemption.

TFSAs

What’s a TFSA? Copy

TFSA can be used for any savings and can be ta x-exempt at any time throughout the year.

The amount that can be contributed to TFSA is limited every year.

EQ Bank's TFSA can invest in TFSA and TFSA GICS savings accounts as cash.

What investment options are available for TFSAs? Copy

EQ Bank customers who have reached the age of adults in their state and have valid social security numbers (Sin) can open EQ BANK TFSA.

Who can open an EQ Bank TFSA? Copy

Residents other than Canada

Customers who have temporary Sin
If you do not use the EQ bank yet, first access www. Eqbank. ca, apply online, and open your personal account.

How do I open a TFSA? Copy

When the opening of the personal account is completed, open the EQ Bank TFSA in the following procedure.

Existing customers using web browsers

Select "Open TFSA Plan".
Check the information and submit an application form
When using a mobile app

Select "Open a New Account/Plan".
Tap "Open A TFSA Plan".
Check the information and submit an application form.
When using a mobile app

How much can I contribute to a TFSA per year? Copy

The annual TFSA contributed limit is linked to inflation, and the $ 500 is rounded. The fluctuations in the value of investment revenue and TFSA investment do not affect the current or future TFSA contribution frame.

In general, the TFSA contributed limit is composed in all of the following:

TFSA limit

Unused TFSA contribution frame for ove r-year
The drawer amount from the TFSA of the previous year
In the year when an individual is a no n-resident of Canada throughout the year, the contribution of the TFSA contribution room is not accumulated.

The TFSA dollar maximum is not applied in the year that the individual falls under any of the following:

18 years old

Be old or 18 years old
Become a Canadian resident or no n-resident
In general, the following table is an outline of all TFSA contributions of all TFSAs in all financial institutions.

What’s my contribution room for a TFSA each year? Copy

All TFSA contribution limit in all financial institutions

Year

Annual contribution limit	Cumulative TFSA contribution limit	7. 000 $
2024	95. 000 $	6. 500 $
2023	88. 000 $	6. 000 $
2022	81. 500 $	6. 000 $
2021	81. 500 $	6. 000 $
2020	81. 500 $	6. 000 $
2019	81. 500 $	5. 500 $
2018	57. 500 $	5. 500 $
2017	57. 500 $	5. 500 $
2016	57. 500 $	10. 000 $
2015	41. 000 $	5. 500 $
2014	57. 500 $	5. 500 $
2013	57. 500 $	5. 000 $
2012	20. 000 $	5. 000 $
2011	20. 000 $	5. 000 $
2010	20. 000 $	41. 000 $
2009	20. 000 $	Contribution to TFSA is not subject to income tax deduction.

Are TFSA contributions tax-deductible? Copy

The contribution amount, and the income obtained in the account (for example, the savings account of the TFSA EQ Bank or the interest obtained by the TFSA GIC) is usually exempt even if it is withdrawn.

Even if you withdraw from TFSA, you will not lose the contribution frame. The amount of money you will withdraw after January 1 of the following year can be redistributed, and the room for contribution will be carried over indefinitely.

If I don’t contribute to a TFSA, can I use my unused contribution room in the future? Copy

TFSA can be used by anyone as long as the qualification requirements are full, but there is no lower or upper limit of the income level. From 2009, qualified individuals will accumulate the contribution every year.

Do I need to have a particular income level to take advantage of a TFSA? Copy

If you are 18 years old or older as of 2009. For example, the cumulative TFSA limit from 2022 (when never contributed) is 81. 500. This number increases every year in accordance with the annual TFSA contribution limit set by the federal government.

If I didn’t open a TFSA in 2009, do I still accumulate contribution room? Copy

If the annual TFSA contribution limit is exceeded, the Ministry of Income of the Canadian income will pay 1 % of the monthly tax each month. The tax is calculated based on the maximum amount of the month, unlike RSP, no grace period of $ 2. 000.

What happens if I contribute more than my contribution amount to a TFSA? Copy

It is your responsibility to know the contribution every year. Don't let any financial institution take your eyes off TFSA so that you don't inadvertently pay too much!

I would like to thank the government for setting TF in TFSA. In other words, no. The drawer is completely exempted, and the contribution limit is reset every January 1st.

Do I have to pay tax when I withdraw from my TFSA? Copy

No, we think we should be able to move funds without a penalty.

Will I be charged a fee to transfer my EQ Bank TFSA to another financial institution? Copy

If you would like to cancel the EQ Bank TFSA, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)).

Unfortunately, we do not refund the transfer fee requested by other financial institutions.

Will EQ Bank reimburse the transfer fee charged by my other financial institution to transfer my account? Copy

No need! Donations, of course, are ta x-exempt. In addition, the interest obtained by TFSA does not grow as you can imagine.

Will I receive a tax slip for my EQ Bank TFSA? Copy

You can make a direct payment from your personal account from your personal computer mobile app or EQ bank app.

How do I deposit funds into my TFSA? Copy

Use a web browser:

Select a source account.
Select a TFSA savings account as a remittance account.
Select the amount, payment date, number of times, and click "Next".
Check the information and click "Submit".
Use a mobile app

Select "TFSA Savings Account" from the control panel of the TFSA program.
Select "Add Funds" from the hamburger menu at the bottom right.
Select an account to add funds.
Select a TFSA savings account as a remittance account.
Select the amount, payment date, number of times, and click "Next".
Check the information and click "Submit".
If you want to transfer a part of the wise advice TFSA to the EQ bank TFSA deposit account, the best timing of the drawer is as late as possible, basically late December.

The TFSA drawer will be returned to the TFSA contribution frame on January 1 of the following year.

If you want to move TFSA funds between financial institutions without affecting the contribution frame, you need to pay the documents and pay the transfer fee. In addition, the hassle of waiting until the actual transfer is performed.

However, if you withdraw money in the latter half of December, the number of days will be set up from TFSA, so if the next calendar year comes, the amount (additional contributions for the following year) will be controlled again. Can do. This operation can be performed by yourself without feeling the trouble of creating, fees, and lon g-time remittances.

To transfer TFSA from other financial institutions to EQ bank, follow these steps:

How do I transfer a TFSA from another financial institution to EQ Bank? Copy

Use a web browser:

Select TFSA transfer from other banks
Select "Let's get Started"

Enter the details of the transfer and confirm.
Upload the signed remittance form (this step is possible later)
Use a mobile app

Select "TFSA Savings"
Select "Transfer TFSA from Another Bank" from the hamburger menu at the bottom right.
Check and click "Let's get Started".
Enter the details of the transfer
Upload the signed transfer letter (this step can be completed later)
Use a mobile app

Please note that the transfer procedure may take up to 6 to 8 weeks, depending on the period until all necessary documents are available and the period during which other financial institutions are transferred.

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

You can check the status of remittance request from the account dashboard.

After receiving, the status will be updated and you can check from the account control panel. It takes up to 3 days for the status to be updated after the reception.

I mailed/faxed my transfer form—how do I know if it’s been received? Copy

Remember that it takes up to 6 to 8 weeks for remittance, depending on the time it takes to receive all necessary documents and how quickly other financial institutions will start remittance. please.

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

What is the difference between transferring funds from a TFSA directly from my other financial institution, versus withdrawing the money myself and making a deposit into my EQ Bank TFSA? Copy

If you pull out from a TFSA yourself and contribute that amount to another TFSA, this may be considered a different contribution, not the transfer. This another contribution is deducted and may exceed the TFSA contribution frame of the year. In that case, you must pay the penalty to the Canadian Revenue Agency.

For more information and rules for the transfer of TFSA, please visit the Canadian Revenue Agency website.

Yes, this is a great way to make the most of the contribution limit.

Can I set up recurring contributions to my TFSA? Copy

Perform in the same procedure as deposits. When the prompt is displayed, select the frequency of your desired regular payment.

Changes and cancellations of regular transfer can be done easily from the desktop or mobile app.

The TFSA savings account is one account per person.

How many EQ Bank TFSA Savings Accounts can I hold? Copy

By combining the TFSA account of the EQ bank and the TFSA GICS account, you can maintain $ 200. 000. Please be sure to check the contribution limit.

How much can I deposit into my EQ Bank TFSA? Copy

For more information, please see the page and characteristic page.

You can use the EQ Bank mobile app or online banking to withdraw funds from TFSA and move to the next account:

How do I withdraw funds from my TFSA? Copy

Personal account

Click on Personal Accounts.
Link account by electronic remittance (EFT)
Note: Discovering from TFSA is possible only for the moment, and regular donation cannot be set.

After the TFSA savings account is opened, you can purchase TFSA GIC.

How do I buy a TFSA GIC? Copy

When the TFSA GIC reaches its maturity, its funds and interest will be deposited into the EQ Bank TFSA deposit account.

You will receive an email or SMS notification that notifies the maturity of TFSA GIC. After that, you can choose whether to buy another EQ Bank TFSA GIC with the funding or to leave funds in the TFSA savings account.

Although there is no limit on the number of EQ Bank TFSA GIC purchases, the total funds of TFSA deposit account and TFSA GIC cannot exceed $ 200. 000. If you know the contribution limit, you will not be penalized for ove r-contribution.

Is there a limit on how many EQ Bank TFSA GICs I can purchase? Copy

There is no tax in this scenario. Also, purchasing TFSA GIC using the funds in the TFSA savings account does not affect the contribution to TFSA.

Are there tax implications of purchasing a TFSA GIC from funds within a TFSA Savings Account? Copy

Yes, TFSA can be left open after moving to Quebec from other States or President of Canada.

Can I keep my TFSA open if I move to Quebec from another Canadian province or territory? Copy

Consult a notary or other legal advisor to specify or change the beneficiary based on the Quebec State Law.

RSP is the initial of the retirement savings plan. It can refer to any number of financial products designed to save for retirement.

RSPs (not available in Quebec)

What’s the difference between an RSP and an RRSP? Copy

RRSP is an abbreviation of REGISTERED RETIREMENT SAVINGS PLAN, a type of RSP, with a certain tax incentive.

Contributions can be deducted from income.

RRSP savings profits are not taxed until they are withdrawn.
RSP refers to various types of accounts, but RRSP refers to one type of account.

RRSP is probably the bes t-known RSP, so this term may be used in the same way.

The EQ bank RSP is registered as soon as you add funds to your account. In other words, you can receive tax incentives for RRSP.

All amounts contributed to RSP are subject to tax deduction, and can be deducted from income, reducing income tax. In addition, the income obtained by RSP can be deferred.

What are the benefits of an RSP? Copy

When withdrawing from RSP, you must pay income tax.

Usually, drawers from RSP are not performed at the time of the highest income, but when the tax amount is low.

EQ Bank RSP has two types of investment products, RSP Saving Account and RSP GIC.

What types of RSPs does EQ Bank offer? Copy

Once you have opened and funded your RSP Savings Account, you can choose to purchase an RSP GIC. When your RSP GIC matures, the principal and interest will be redeposited into your RSP Savings Account.

EQ Bank customers who have reached the age of majority in their province and have a valid Social Security Number (SIN) can open an EQ Bank RSP.

Who can open an EQ Bank RSP? Copy

Those who will turn 71 in the year of application

Non-Canadian residents
Customers who have temporary Sin
Those with a temporary SIN
If you do not use the EQ bank yet, first access www. Eqbank. ca, apply online, and open your personal account.

How do I open an RSP Savings Account? Copy

When the opening of the personal account is completed, open the EQ Bank TFSA in the following procedure.

Existing customers using a web browser

Select "Open TFSA Plan".
View the details and apply.
When using a mobile app

Select "Open a new account/plan".
Tap "Open A TFSA Plan".
Review the details and apply.
When using a mobile app

Follow these steps to transfer your existing RSP from another financial institution to EQ Bank.

How do I transfer an RSP from another financial institution to EQ Bank? Copy

Using your web browser:

Select "Transfer RSP from another bank"
Select "Let's get started".
Enter the details of the transfer and confirm.
Upload the signed remittance form (this step is possible later)
Use a mobile app

Select "Transfer RSP from another bank"
Select "Let's get started".
Enter the details of the transfer and confirm.
Upload the signed remittance form (this step is possible later)
Use a mobile app

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

After receiving, the status will be updated and you can check from the account control panel. It takes up to 3 days for the status to be updated after the reception.

How do I submit the signed RSP transfer form, if I decided to skip that step previously? Copy

Using a web browser:

Select "RSP Savings Account", then "Check RSP Transfer Status".
Select the correct transfer.
Select "Submit a signed transfer form".

You can either download the form again or submit a signed form.

Using the mobile app:

Select "Transfer RSP from another bank"
Select the correct transfer.
Select "Submit a signed transfer form".

You can either download the form again or submit a signed form.

Using the mobile app:

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

After receiving, the status will be updated and you can check it from the account control panel. It may take up to three days to update the status after receiving it.

I mailed/faxed my transfer form—how do I know if it’s been received? Copy

Remember that it takes up to 6 to 8 weeks for remittance, depending on the time it takes to receive all necessary documents and how quickly other financial institutions will start remittance. please.

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

Why does it take 6 to 8 weeks when I transfer a TFSA or RSP from another Financial Institution? Copy

The following is the procedure:

Receive the filled form

The internal check is performed whether the form is entered correctly.
The paper is faxed by the designated financial institution.
Financial institutions perform procedures
Financial institutions issued and mailed checks.
The postal check is received, the time stamp is pushed, and sent to the related department.
The check is transferred to your account
Note: Currently, we have received a large number of requests, and we are working to handle it as quickly as possible.

Once you open an RSP deposit account, you can buy RSP GIC.

How do I buy an EQ Bank RSP GIC? Copy

Once the RSP GIC reaches the maturity, the funds and interest will be deposited into the RSP savings account.

You will receive an email or SMS notification that informs you of the maturity of RSP GIC. RSPGIC's maturity is notified by e-mail or SMS, and you can buy another RSP GIC with the funds or deposit in the RSP account account.

If other financial institutions have not yet contributed RSP, the RSP contribution amount for the current year is one of the following: Select an appropriate transportation.

How do I determine my RSP contribution limit? Copy

Select "Submit a signed transfonement"

Download the form again or send the signed form.
You can also send the transfer letter by mail or fax.

Please note that the transfer procedure will take up to 6 to 8 weeks, depending on the time it takes to receive all necessary documents and the speed of the transfer of other financial institutions.

You can check the status of your request from the account dashboard.

What happens if I contribute more than my contribution amount to an RSP? Copy

After receiving, the status will be updated and you can check it from the account control panel. It may take up to three days to update the status after receiving it.

Please note that it can take up to 6 to 8 weeks for remittance, depending on the time it takes to receive all necessary documents and how quickly other financial institutions will start remittance.

Who can contribute to an EQ Bank RSP? Copy

To transfer TFSA or RSP from other financial institutions, you need some procedures. The procedure starts after receiving a complete and accurate form. If you mail the form, you need to add more time during the specified period.

The following is the procedure:

Receive the filled form
The internal check is performed whether the form is entered correctly.

How do I withdraw from my RSP? Copy

The paper is faxed by the designated financial institution.

Financial institutions perform procedures

Financial institutions issued and mailed checks.

The postal check is received, the time stamp is pushed, and sent to the related department.

The check is transferred to your account

Note: Currently, we have received a large number of requests, and we are working to handle it as quickly as possible.
Once you open an RSP deposit account, you can buy RSP GIC.
Once the RSP GIC reaches the maturity, the funds and interest will be deposited into the RSP savings account.

If other financial institutions have not yet contributed to RSP, the RSP contribution amount of the current year is one of the following: Select an appropriate transportation means.

Select "Submit a signed transfonement"

Download the form again or send the signed form.

You can also send the transfer letter by mail or fax.

Please note that the transfer procedure will take up to 6 to 8 weeks, depending on the time it takes to receive all necessary documents and the speed of the transfer of other financial institutions.

You can check the status of your request from the account dashboard.

After receiving, the status will be updated and you can check it from the account control panel. It may take up to three days to update the status after receiving it.

Select "Submit a signed transfonement"

How does the Home Buyers Plan work? Copy

To transfer TFSA or RSP from another financial institution, some procedures are required. The procedure starts after receiving a complete and accurate form. If you mail the form, you need to add more time during the specified period.

The following is the procedure:

How does the Lifelong Learning Plan work? Copy

Receive the filled form

The internal check is performed whether the form is entered correctly.

The paper is faxed by the designated financial institution.

When does an RSP mature? Copy

Financial institutions perform procedures

Financial institutions issued and mailed checks.

The postal check is received, the time stamp is pushed, and sent to the related department.
The check is transferred to your account

I’m moving to Quebec—what happens to my EQ Bank RSP Savings Account? Copy

Note: Currently, we have received a large number of requests, and we are working to handle it as quickly as possible.

Once you open an RSP deposit account, you can buy RSP GIC.

Once the RSP GIC reaches the maturity, the funds and interest will be deposited into the RSP savings account.

What is a beneficiary? Copy

If other financial institutions have not yet contributed to RSP, the amount that can be contributed for the current year is usually the lower amount:

18 % of the previous taxation year's income. In many cases, the income to be RSP is the amount described in the box 14 of the T4 slip. Income includes sel f-employed pure income, CPP/QPP for persons with disabilities, and net rental income.

From the annual contribution limit of the taxation year, the compan y-specific retirement pension contribution is defined as the abbreviation of the T4 slip PA or "Retirement Adjustment".

How do I designate a beneficiary on my EQ Bank RSP or TFSA? Copy

The contribution limit is determined by the Canadian government. You can check your contribution limit at the personal My count of the Canadian Revenue Agency (CRA) website.

All financial institutions holding RSP are responsible for tracking the contribution every year.

If the annual contribution limit of RSP is exceeded, the Canadian Revenue Agency is generous for $ 2, 000 (although it is not subject to tax). However, if it exceeds $ 2, 000, the CRA imposes 1 % tax every month.

All financial institutions holding RSP are responsible for tracking the contribution every year.

With income, having a social security number (SIN), reaching the adult age in each prefecture, and any person who has filed a final tax return will be drawn out of the EQ RSP until December 31, the age of 71. You can contribute to.

At the age of 71, the income of EQ Bank RSP will be one of the following:

What information do I need to designate a beneficiary? Copy

Drawer from the plan

Transfer to the registered retirement income fund (RRIF) of other institutions.

RSP is intended to provide a source of income at the time of retirement, so if you withdraw funds before retirement, you will be charged a large withholding tax from the Canada Revenue Agency.
The money contributed to RSP is strictly yours, but banks will withholding with withholding taxes of 10 to 30 % and hand over it to the government. The more drawers, the higher the percentage. Once the money is withdrawn, the room for contribution in the account is lost forever. 18 % of the previous taxation year's income. In many cases, the income to be RSP is the amount described in the box 14 of the T4 slip. Income includes sel f-employed pure income, CPP/QPP for persons with disabilities, and net rental income.
From the annual contribution limit of the taxation year, the compan y-specific retirement pension contribution is defined as the abbreviation of the T4 slip PA or "Retirement Adjustment".
The contribution limit is determined by the Canadian government. You can check your contribution limit at the personal My count of the Canadian Revenue Agency (CRA) website.
All financial institutions holding RSP are responsible for tracking the contribution every year.

How do I designate a beneficiary on my EQ Bank RSP or TFSA in Quebec? Copy

All financial institutions holding RSP are responsible for tracking the contribution every year.

What happens when my EQ Bank RSP GIC reaches maturity? Copy

At the age of 71, the income of EQ Bank RSP will be one of the following:

How will I receive my tax slips for my EQ Bank RSP? Copy

Drawer from the plan

Transfer to the registered retirement income fund (RRIF) of other institutions.

RSP is intended to provide a source of income at the time of retirement, so if you withdraw funds before retirement, you will be charged a large withholding tax from the Canada Revenue Agency.

The money contributed to RSP is strictly yours, but banks will withholding with withholding taxes of 10 to 30 % and hand over it to the government. The more drawers, the higher the percentage. Once the money is withdrawn, the room for contribution in the account is lost forever. 18 % of the previous taxation year's income. In many cases, the income to be RSP is the amount described in the box 14 of the T4 slip. Income includes sel f-employed pure income, CPP/QPP for persons with disabilities, and net rental income.

From the annual contribution limit of the taxation year, the compan y-specific retirement pension contribution is defined as the abbreviation of the T4 slip PA or "Retirement Adjustment".
The contribution limit is determined by the Canadian government. You can check your contribution limit at the personal My count of the Canadian Revenue Agency (CRA) website.

All financial institutions holding RSP are responsible for tracking the contribution every year.

Is there a fee to transfer my EQ Bank RSP to another financial institution? Copy

If you would like to cancel the EQ Bank TFSA, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)).

All financial institutions holding RSP are responsible for tracking the contribution every year.

Will EQ Bank reimburse the transfer fee charged by my other financial institution to transfer my RSP account? Copy

No need! Donations, of course, are ta x-exempt. In addition, the interest obtained by TFSA does not grow as you can imagine.

How much can I deposit into an RSP Savings Account? Copy

At the age of 71, the income of EQ Bank RSP will be one of the following:

You can use the EQ Bank mobile app or online banking to withdraw funds from TFSA and move to the next account:

How many RSP accounts can I hold? Copy

Transfer to the registered retirement income fund (RRIF) of other institutions.

How many RSP GICs can I hold? Copy

RSP is intended to provide a source of income at the time of retirement, so if you withdraw funds before retirement, you will be charged a large withholding tax from the Canada Revenue Agency.

How do I contribute to my RSP? Copy

If you need to withdraw money from your EQ Bank RSP for any reason, please contact the EQ Bank Customer Service Team at 1-844-437-2265 (844-4EQ-BANK).
Select a TFSA savings account as a remittance account.
To withdraw money from your EQ Bank RSP under the Home Buyer Program, print, complete and submit the CRA Form T1036 to EQ Bank, respectively. https://www. canada. ca /en/revenue-agency/services/forms-publications/forms/t1036. html
Check the information and click "Submit".
Use a mobile app

Email the form to: registered@eqbank.
Subject: EQ Bank - Digital Banking: (Your RSP Program Number)
Mail the form to: EQ Bank Digital Banking Attn: Registered Products
Select a TFSA savings account as a remittance account.
To withdraw money from your EQ Bank RSP under the Home Buyer Program, print, complete and submit the CRA Form T1036 to EQ Bank, respectively. https://www. canada. ca /en/revenue-agency/services/forms-publications/forms/t1036. html
Check the information and click "Submit".
If you want to transfer a part of the wise advice TFSA to the EQ bank TFSA deposit account, the best timing of the drawer is as late as possible, basically late December.

Can I set up recurring automatic contributions to an RSP? Copy

Subject: EQ Bank - Digital Banking: (Your RSP Program Number)

The Home Buyer Program (HBP) is a program that allows you to withdraw funds from your RSP to buy or build a suitable home for yourself or a relative with a disability. With the HBP, you have up to 15 years to repay the withdrawn funds.

If you want to withdraw funds from the EQ bank RSP based on the Home Buyers Program (Home Buyers Program), please call the EQ Bank customer service team (1-844-437-2265 (844-4EQ-BANK)). 。

Does EQ Bank offer a spousal RSP? Copy

The Lifelong Learning Plan (LLP) is a program that can bring out a maximum of $ 10. 000 in the calendar year as the educational fund for the person, the spouse, and the inner partner.

When an RRSP GIC matures, does it get taxed? Copy

If you meet the LLP requirements every year, you can pull out from the RSP until January, the four calendar year when the LLP is first drawn out. You cannot draw a total of over $ 20. 000.

What are the withholding taxes charged on an RRSP withdrawal? Copy

If you want to withdraw funds from the EQ Bank RSP based on the Lifelong Learning Plan, please call the EQ Bank Customer Service Team (1-844-437-2265, 844-4EQ-Bank).

RSP needs to reach its maturity by the end of the year when the pension recipient is 71 years old.

Joint Accounts

What is a joint account? Copy

In the case of RSP of EQ Bank, we will contact you in January of the 7 1-yea r-old year to check how to use the revenue. The options are as follows:

Pull out of the plan

Who should get a joint account? Copy

Transfer to the registered retirement income fund (RRIF) of the published organization.

If you move from other States or Temporary States in Canada to Quebec, you will need to transfer all the RSP savings accounts to other financial institution RSP accounts and cancel the EQ bank RSP account. If you withdraw money to your personal account from RSP, you may be taxed.

To cancel the RSP, contact the customer service team and perform an address change procedure.
If the RSP plan contains GIC, GIC is forced to expire and only the principal is deposited into the RSP account.
A beneficiary is the person who receives your thing (in this case, money) when you die. When opening an RSP, you can specify one or more recipients you receive after your death.

The advantage of specifying a beneficiary is that you do not need to pay taxes on the RSP value after you die.

Can more than two people share a joint account? Copy

There are other benefits to specifying beneficiaries, for example, clarifying who will receive the funds can avoid confusion (because you are not around).

Who can deposit and withdraw from the joint account? Copy

In addition, the time it takes for the beneficiary to be able to use the funds will be able to manage who will receive funds and how many percent of the account will be assigned to the person.

How do I open a joint account? Copy

EQ Bank RSP is not available in Quebec.

You can specify up to five beneficiaries and select the ratio to be allocated to the beneficiary after your death.

If the ratio of the beneficiary is less than 100 %, the rest will be paid as a heritage.

To specify the recipient, you need to log in to the EQ bank account and download the recipient specified form.
Notice beneficiary designation is not available in Quebec. If you live in Quebec, please consult a law advisor, such as a notary public, regarding the designation and change of the recipient according to the Quebec State Law.
If you open an account in a state other than Quebec, the beneficiary is designated.
To specify a beneficiary, you need to log in and download the beneficiary specified form of EQ Bank RSP.

Please mail or fax to the EQ bank with the following information:

Her family and surname
EQ-Quick name and real name

Her family, name, maiden name, name, surname

Your SIN (social security number), social security number (sin), social security number (sin), postal address

Relationship with account holder
EQ Bank RSP is not available in Quebec.
Prior to the beneficiary is not available in Quebec. Quebec residents should consult a notary or other legal advisor to specify or change the beneficiary based on the Quebec State Law.
Once the RSP GIC reaches the maturity, the funds and interest will be deposited into the RSP savings account.
To specify a beneficiary, you need to log in and download the beneficiary specified form of EQ Bank RSP.

Please mail or fax to the EQ bank with the following information:

Her family and surname
EQ-Quick name and real name

EQ Bank issues two contribution receipts so that you can apply for appropriate deductions for taxable income:

Can I share a joint account with someone who’s not a Canadian resident? Copy

2023 contribution receipt (described those contributed in the last 10 months of 2023)

Does a co-holder need to be an existing EQ Bank customer? Copy

2024 contribution receivables (the contributions performed in the first 60 days of 2024 are described.

If you log in to an EQ bank account, you can always access the past tax documents archive. New documents will be added at any time.

You should be able to move funds without penalty.

How do I know if a co-holder has accepted my invitation? Copy

If you would like to cancel the EQ Bank RSP, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-BANK)).

Unfortunately, we do not refund the transfer fee requested by other financial institutions.

What if a co-holder hasn’t received my invitation? Copy

EQ Bank RSP can be owned up to $ 1 million by combining RSP saving accounts and RSP GICS. Please be sure to check the contribution limit.

What if my co-holder’s invitation expires? Copy

For more information, please see the page and characteristic page.

You can hold an EQ Bank RSP account.

Can I have multiple joint accounts with different people? Copy

You can hold multiple GICs within the $ 1 million plan limit.

Can I convert my individual account into a joint account? Copy

From your desktop or EQ bank mobile app, you can directly control RSP directly from your personal account using the following procedure.

Use a web browser:

Who claims the interest earned on their income taxes for a joint account? Copy

Is there an account balance limit on a joint account? Copy

Select a contribution account.

How does CDIC deposit insurance work for joint accounts? Copy

Select your RSP savings account as a remittance destination.

Select the amount, payment date, number of times, and click Next.

Check the details and click "Submit"
When using a mobile app
Log in, scroll down the dashboard and select "RSP Plan".

From the dashboard of the RSP plan, select "RSP Savings Account".

Can I change the primary account holder? Copy

Select "Add Money" from the menu at the bottom right.

How do I claim interest earned on my joint account? Copy

Select a source account.

Select the RSP deposit account as a remittance destination.

Select the amount, payment date, number of times, and click "Next".

Check the details and click "Submit".

Is there a separate tax slip for the Personal Account and the Joint Account? Copy

yes! This is the best way to manage your donation.

How are tax slips issued for joint accounts? Copy

You can donate to RSP in the same procedure. When the prompt is displayed, select the regular payment frequency.

You can easily change the frequency from your desktop or mobile app, or cancel regular remittances.

How do I know if I’m the primary account holder of my joint account? Copy

Currently, the RSP spouse is not provided.

I converted a Personal Account into a Joint Account—how will this affect my tax slip? Copy

No, RRSP GICS is not taxed at maturity. RRSP funds are taxed only when RRSP drawers.

RRSP withholding tax is imposed when funding from RRSP before retirement. The current RRSP withholding rate is 10 % for a drawer of $ 5. 000, a drawer from $ 5. 001 to $ 15. 000, and a 30 % drawer exceeding $ 15. 000.

These withholding rates are only a guide. Taxes that must be paid depend on all sources, including drawers from RSPs, depending on the tax rate applied based on the total amount of taxable income received that year.

How do I remove myself from a joint account? Copy

A joint account is a bank account that is opened under the name of two or more. If you open a joint account in the EQ bank, you and the account holder can share all excellent functions and benefits similar to our personal account. If you have a joint account, you can manage it equally, confirm the transaction, pay the invoice, make a deposit and draw from a joint account.

How do I close my joint account? Copy

Click here for more information about the power of attorney and the c o-account authority.

Do all account holders need to give permission to close a joint account? Copy

The joint account is designed for those who know each other well. Everyone has a complete access to funds in accounts and accounts, so be sure to trust the partner who participates in the joint account.

There are some things to think about:

What happens if a joint account holder passes away? Copy

The account c o-owner can bring out all funds from your collaborative account without your permission.

Mortgage Marketplace

How is Mortgage Marketplace able to offer me a mortgage? Copy

Accountable c o-owners can see your account trading.

If one of the account c o-c o-c o-c o-c o-banks collapses in a marital relationship, the account may be considered a couple's assets and may be divided accordingly.

If you need more details, please call the EQ Bank Customer Service Team (1-844-437-2265 (844-4EQ-BANK)) or start a live chat.

yes! A total of four c o-names, a total of four people, can use a joint account.

Why is EQ Bank offering the Mortgage Marketplace? Copy

All c o-names can make deposits, pay invoices, and draw funds, all of which can check the usage status of the account.

If you already have an EQ bank account, the addition of a joint account will be completed in a few minutes. Opening an account is very easy, and you can access www. Eqbank. ca and apply online.

Who is the Mortgage Marketplace service for? Copy

If you are currently having an account, we recommend that you open a new clean joint account while keeping the existing personal account as it is, but it is also possible to change the existing account to a joint account.

Can I get a pre-qualification or pre-approval through the mortgage application? Copy

To open a new joint account

Do I have to pay for this service? Copy

So EQ Bank offers mortgage products? Copy

Click "Product" at the top of the screen.

Click "Open Account" under "Personal Account" and select a shared account.

Specify how to use the account, assign an alias, and click "Next".

What's in it for EQ Bank to offer the Mortgage Marketplace? Copy

Invite up to 3 c o-owners

If the c o-name is already using EQ Bank, use your e-mail address associated with the EQ Bank account.

Once the invitation is sent, a colleague needs to accept the invitation before the collaborative account procedure is completed.

This is done! On the account details page, you can check which invitations are pending and which invitations have been accepted.

I already have a mortgage with Equitable Bank. Do I renew my mortgage here? Copy

To change the existing personal account to a joint account

How can I get a better rate through the Mortgage Marketplace? Copy

Select the account you want to change.

Do I have to be an EQ Bank customer to get a mortgage? Copy

Click on "More Options" on the top right.

US Dollar Accounts (not currently available, coming soon to Quebec)

How is the US conversion rate calculated for the EQ Bank US Dollar Account? Copy

Select "Convert to Joint Account"

What is the interest rate for the EQ Bank US Dollar Account? Copy

Give the account a nickname and how you want to use it, then click "Next".

What transactions can I make with my EQ Bank US Dollar Account? Copy

Invite up to 3 Joint Account Holders

If your joint account holder is already an EQ Bank customer, use the email address registered to your EQ Bank account.
Once the invitation is sent, your joint account holder must accept the invitation before the joint account process can be completed.
You can see which invitations are pending and which have been accepted on your account details page. Once your joint account holder accepts the invitation, your account will automatically change to a joint account.
Unfortunately not. All joint account holders must be Canadian residents.

You can invite anyone who is a Canadian resident and of legal age in their province - your roommate, best friend, romantic partner, or even your mom or dad.

If you are inviting someone who is not an EQ Bank customer, they will need to register to receive the invitation. The invitation will provide you with a simple 3-step process to become a joint account holder.

How do I deposit or withdraw funds from my US Dollar Account? Copy

Alternatively, you can visit www. eqbank. ca and apply online to open an account. Either way, to receive the invitation, you must register with the email address you provided in the invitation.

To check the status of your invitation, log into your EQ Bank account and select the account to which you sent the invitation. You can check the status of your invitation from the "Account Associates" section.

Can I deposit a US dollar cheque into my EQ Bank US Dollar Account? Copy

A status of "Active" means that the account holder has accepted your invitation. A status of "Pending" means that the account holder has not yet accepted your invitation. A status of "Failed" means that the co-owner did not answer the security questions correctly. If you want to continue the joint account process with this co-owner, you will need to resend the invitation.

Do you offer a Joint US Dollar Account? Copy

First, make sure that your email address is correct. Log into your EQ Bank account and select the joint account to which you sent the invitation. You can resend the invitation from the "Account Associates" section.

Does EQ Bank offer US Dollar GICs? Copy

An invitation for an account holder is valid for two weeks.

Can I send International Money Transfers from my EQ Bank US Dollar Account? Copy

If the invitation has expired, log into your EQ Bank account and select the joint account to which you sent the invitation. You can resend the invitation from the "Account Joint Beneficiaries" section.

If you already have an account, it is recommended that you open a new c o-account with the existing personal account as it is.
If you want to change your existing personal account to a joint account, sign up and select the account you want to change, select the "Optional Options" in the upper right, and add an affiliate according to the simple steps. When a joint shareholder agrees with your invitation, your account is automatically converted to a joint account.
T5 tax returns are issued under the name of the main seat and are issued by February 28 every year. All the c o-owners of the account can receive a copy of the T5 tax return.

The target consolidated deposits are protected to $ 100. 00 per c o-name, not per c o-name. The target consolidated deposits are insurance separately from the personal account deposits.
Therefore, for example, the following cases are compensated for up to $ 100. 000, respectively:
Your personal account

How many EQ Bank US Dollar Accounts can I have? Copy

Your personal account

How do I transfer funds between my Personal Account and my EQ Bank US Dollar Account? Copy

C o-account with parents

The person who opens a joint account is called the holder. Currently, you cannot change the holder of the main seat.
According to the Canadian Revenue Agency (CRA), the interest from the joint account must be reported based on the amount you contributed to it.
The T5 tax return will be issued to the holder of the joint account and will be able to download it with PDF every year by February 28.
If you change your personal account to a joint account, the interests of the change month will be described in the T5 declaration issued by the holder of the joint account.

If you already have an account, it is recommended that you open a new c o-account with the existing personal account as it is.
According to the Canadian Revenue Agency (CRA), the interest from the joint account must be reported based on the amount you contributed to it.
The T5 tax return will be issued to the holder of the joint account and will be able to download it with PDF every year by February 28.
That's a good question! Customers with a joint account can have a total of $ 500. 000 in all accounts.

Do you have a US dollar conversion calculator? Copy

The target consolidated deposits are protected to $ 100. 00 per c o-name, not per c o-name. The target consolidated deposits are insurance separately from the personal account deposits.

How much money can I deposit into my EQ Bank US Dollar Account? Copy

Therefore, for example, the following cases are compensated for up to $ 100. 000, respectively:

Does the EQ Bank US Dollar Account offer CDIC coverage? Copy

Your personal account

From the dashboard of the RSP plan, select "RSP Savings Account".

Can I schedule a future dated or recurring US Dollar transfer? Copy

C o-account with parents

Can I transfer US dollars to a US dollar bank account held in another country? Copy

See the CDIC website for details.

I want to make a large US dollar transfer; can you offer me a lower exchange rate? Copy

The person who opens a joint account is called the holder. Currently, you cannot change the holder of the main seat.

Will there be a T5 issued for interest earned in the EQ Bank US Dollar Account? If so, which currency will the T5 be issued in? Copy

According to the Canadian Revenue Agency (CRA), the interest from the joint account must be reported based on the amount you contributed to it.

Can I send an Interac e-Transfer® from my EQ Bank US Dollar Account? Copy

The T5 tax return will be issued to the holder of the joint account and will be able to download it with PDF every year by February 28.

I’m moving to Quebec—what will happen to my US Dollar Account? Copy

If you change your personal account to a joint account, the interests of the change month will be described in the T5 declaration issued by the holder of the joint account.

Click here for interest tax returns in the tax return. Of course! In addition to the main account, you can open up to 7 accounts, up to seven accounts. All can be a personal account, a joint account, or a combination of both.

If you already have an account, it is recommended that you open a new c o-account with the existing personal account as it is.

International money transfers (not currently available, coming soon to Quebec)

What is Wise? Copy

If you want to change your existing personal account to a joint account, sign up and select the account you want to change, select the "Optional Options" in the upper right, and add an affiliate according to the simple steps. When a joint shareholder agrees with your invitation, your account is automatically converted to a joint account.

What is the relationship between EQ Bank and Wise? Copy

T5 tax returns are issued under the name of the main seat and are issued by February 28 every year. All the c o-owners of the account can receive a copy of the T5 tax return.

If I send an international money transfer, how will I know my money is safe? Copy

That's a good question! Customers with a joint account can have a total of $ 500. 000 in all accounts.

What is the real exchange rate? Copy

The target consolidated deposits are protected to $ 100. 00 per c o-name, not per c o-name. The target consolidated deposits are insurance separately from the personal account deposits.

How can I see the real exchange rate and the charge associated with an international money transfer? Copy

Therefore, for example, the following cases are compensated for up to $ 100. 000, respectively:

Do I need to open a separate account with Wise to send an international money transfer? Copy

Your personal account

How much does it cost to send an international money transfer? Copy

Your personal account

Can I cancel an international money transfer? Copy

C o-account with parents

Can I cancel an international money transfer with a status of “Pending”? Copy

See the CDIC website for details.

How can I view my transaction history and check the status of my international money transfer? Copy

The person who opens a joint account is called the holder. Currently, you cannot change the main seat holder.

How long will it take for the international money transfer to be accessible to the recipient? Copy

According to the Canadian Revenue Agency (CRA), the interest from the joint account must be reported based on the amount you contributed to it.

Will it take longer to process the first international money transfer I send versus subsequent international money transfers? Copy

The T5 tax return will be issued to the holder of the joint account and will be able to download it with PDF every year by February 28.

If you change your personal account to a joint account, the interests of the change month will be described in the T5 declaration issued by the holder of the joint account.

Does the recipient of an international money transfer need a Wise account to access their funds? Copy

Click here for interest tax returns in the final tax return.

Can the recipient track the international money transfer while it’s in progress? Copy

Yes, a separate tax return is required for personal accounts and joint accounts. If you have multiple personal accounts, you will receive a T5 tax return and/ or RL-3 tax return forms that have summed the interest obtained in those accounts. The joint T5 account and the RL-3 tax return are created separately based on the address of the main link and the number of groups of the co-owner.

My international money transfer wasn’t received by the recipient. What can I do? Copy

In accordance with the requirements of the CRA and Insenu Québec, the T5 and RL-3 tax returns are issued under the name of the main account. The RL-3 is issued only when the main account name is in Quebec.
However, the tax payment slip includes two names (the main seat of the main accounter and the secretary).
Log in to the account and proceed to the details page of the joint account. The "Lord" label is displayed next to the name of the main accounter.
The interest earned in the moon when you were a personal account name will be reported to the personal T5 and RL-3 tax return.

Can I receive international money transfers to my EQ Bank account? Copy

The interest obtained in the joint account is reported to another T5 and RL-3 tax return.

How many currencies do you support/where can I send an international money transfer? Copy

The interests of the month when the account are changed will be listed in the joint T5 and RL-3 tax return.

Can I send an international money transfer if I don’t know my recipient’s bank details? Copy

Unfortunately, the account holder cannot be deleted from the joint account, but it is possible to close the account. To close your account, please call the EQ Bank customer service team (1-844-437-2265, 844-4EQ-Bank) or use a live chat.

What should I do if I entered my recipient's details incorrectly? Copy

To cancel the joint account, the balance of the account must be zero. If you have an account, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

No, not. If the account balance is zero, the account holder can cancel the joint account. To cancel your account, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)) or use the live chat.

However, if the shared account is the only account of EQ bank, the transaction with the EQ bank will end, so we will inform you that you wish to cancel. Yes, a personal account and a joint account require a separate tax return. If you have multiple personal accounts, you will receive a T5 tax return and/ or RL-3 tax return forms that have summed the interest obtained in those accounts. The joint T5 account and the RL-3 tax return are created separately based on the address of the main link and the number of groups of the co-owner.
In accordance with the requirements of the CRA and Insenu Québec, the T5 and RL-3 tax returns are issued under the name of the main account. The RL-3 is issued only when the main account name is in Quebec.

However, the tax payment slip includes two names (the main seat of the main accounter and the secretary).

Log in to the account and proceed to the details page of the joint account. The "Lord" label is displayed next to the name of the main accounter.

Are there maximum amount limits for sending an international money transfer? Copy

The interest earned in the moon when you were a personal account name will be reported to the personal T5 and RL-3 tax return.

The interest obtained in the joint account is reported to another T5 and RL-3 tax return.
The interests of the month when the account are changed will be listed in the joint T5 and RL-3 tax return.

I’m moving to Quebec—will I still be able to send money internationally? Copy

To cancel the joint account, the balance of the account must be zero. If you have an account, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

GICs

How many GICs can I buy? Copy

What happens when my GIC matures? Copy

However, if the shared account is the only account of EQ bank, the transaction with the EQ bank will end, so we will inform you that you wish to cancel. Yes, a separate tax return is required for personal accounts and joint accounts. If you have multiple personal accounts, you will receive a T5 tax return and/ or RL-3 tax return forms that have summed the interest obtained in those accounts. The joint T5 account and the RL-3 tax return are created separately based on the address of the main link and the number of groups of the co-owner.

What happens to my GICs if I die? Copy

In accordance with the requirements of the CRA and Insenu Québec, the T5 and RL-3 tax returns are issued under the name of the main account. The RL-3 is issued only when the main account name is in Quebec.

How do I cancel my GIC? Copy

However, the tax payment slip includes two names (the main seat of the main accounter and the secretary).

Can I redeem GICs before they mature? Copy

Log in to the account and proceed to the details page of the joint account. The "Lord" label is displayed next to the name of the main accounter.

Is the interest earned from my GIC taxed? Copy

The interest earned in the moon when you were a personal account name will be reported to the personal T5 and RL-3 tax return.

The interest obtained in the joint account is reported to another T5 and RL-3 tax return.

Will I get a physical certificate for my GIC purchase? Copy

The interests of the month when the account are changed will be listed in the joint T5 and RL-3 tax return.

What is the difference between non-registered GICs and registered GICs? Copy

Who claims the interest earned on their income taxes for a GIC purchased from a joint account? Copy

To cancel the joint account, the balance of the account must be zero. If you have an account, please call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)) or use a live chat.

Account security and privacy

How does EQ Bank protect my account? Copy

How does EQ Bank protect my personal information? Copy

However, if the shared account is the only account of EQ bank, the transaction with the EQ bank will end, so we will inform you that you wish to cancel.

What should I do if I suspect unauthorized access to my EQ Bank account? Copy

If a joint account holder passes away, please contact EQ Bank Customer Service immediately at 1-844-437-2265 (844-4EQ-BANK). We will do our best to assist you.

EQ Bank Card

How does EQ Bank Card interest work? Copy

To help you navigate over 2, 000 mortgage products offered by Canadian financial institutions, EQBank has partnered with nesto, a digital mortgage company (also known as a mortgage brokerage), to help you get the best interest rate on the market.

Where can I use my EQ Bank Card? Copy

First, use our simple, easy-to-use digital application to review the different mortgage options available to you. Then, an unbiased nesto mortgage advisor will understand your unique needs and guide you to the product that best suits you.

Can I use my EQ Bank Card internationally? Copy

If you are just starting your home buying journey, you can get pre-qualified or pre-approved.

If you are further along and want to refinance or have a mortgage to renew, a mortgage advisor will help you determine which product fits your needs and submit your application to the right financial institution.

Are there any countries or regions where the EQ Bank Card isn’t accepted? Copy

At EQ Bank, we are on a mission to simplify a traditional industry like banking. We know that finding the right mortgage has never been more difficult. We have partnered with mortgage brokers to simplify your mortgage buying journey. We give you access to all the right tools and unbiased expert advice you deserve when making such a big purchase. Our easy-to-use platform and innovative algorithms analyze your entire mortgage and instantly recommend the product that is best for you.

This is another way we ensure EQ Bank customers get the most value without the hassle of banking.

Whether you are looking to take out a new mortgage, renew your mortgage or refinance, the Mortgage Marketplace can help.

Are there any types of transactions I can’t do? Copy

Yes! Our digital app and mortgage advisor can help you calculate the size of the mortgage you can afford as you consider buying a home.

No, it's completely free!
Equitable Bank has been offering mortgage products for over 50 years. EQ Bank is a trademark of Equitable Bank.
With this experience, we know that no mortgage is ever single, and that's why we offer this service.
If we find that an Equitable Bank mortgage is right for you, we will discount your interest rate.
Full Transparency EQ Bank is an Equitable Bank brand. Equitable Bank offers mortgage products, and we are confident that an Equitable Bank mortgage is right for you.
In fact, we are so confident that we refer you to an unbiased third-party brokerage to compare our mortgage with our competitors.

What security features does the EQ Bank Card have? Copy

We save money by not having branches, and we are able to pass those savings on to you through lower mortgage interest rates.

But if our mortgage isn't right for you, don't worry. We believe the path to homeownership should be simple, fast and low-cost.

What does ‘linked account’ mean? Copy

For customers with an existing Fair Bank mortgage, we can help you renew your mortgage directly. Contact us directly at 1-888-334-3313 or email us at renewals@eqbank. ca.

Will I be charged fees for using the EQ Bank Card? Copy

Rather than shopping around one bank at a time, our smart, dynamic algorithm scans over 2. 000 mortgage products to bring you the best rates. We partner with mortgage brokers who have established relationships with financial institutions to ensure that EQ Bank customers have access to negotiated low rates from the get-go. With just one application and credit check, you can enjoy the best rates in Canada.

Can I have more than one card for my account? Copy

At EQ Bank, we reduce costs by not having branches, which we pass on to our customers through lower mortgage rates. Through our mortgage marketplace, we guarantee you the lowest possible interest rate if our product is a good fit for you.

How do I add funds to the EQ Bank Card? Copy

EQ Bank customers have access to exclusive rates on the mortgage market and fair bank mortgages. If you are interested in exclusive rates, sign up with EQ Bank. Sign up now

How long does it take for my money to become available once I transfer it to my card? Copy

We don't believe in high valuation nonsense. That's why we offer low valuation and competitive exchange rates in the Canadian banking market. Exchange rates are always changing, but you can access live USD exchange rates by signing in to your account.

Do you charge any fees for Canadian ATM withdrawals? Copy

To access current exchange rates, visit EQ Bank's USD Account page.

Are there spending limits on my EQ Bank Card? Copy

You can transfer funds in a variety of ways with our USD Account:

How much money can my card hold? Copy

You can transfer money to a US dollar account from the linked overseas account (Canada financial institution-CAD or USD). When you send a Canadian dollar, it will first be displayed in the Canadian dollar on your personal account, and then automatically deposits a US dollar account for a US dollar. The customer's account is displayed as two steps, but only one step is on the customer side. Is it convenient? Note: The reservation period is applied (Click here for details of the US dollar account).

How much can I take out at an ATM? Copy

If you want to move funds from your personal account to the US dollar account of EQ Bank, you can move by converting it from Canada dollar to US dollar.

How many transactions can I make in a day? Copy

If you want to move funds from a US dollar account to a personal account, you can transfer money from US dollar to Canada dollar.

How do I get an EQ Bank Card? Copy

You can also use the international remittance service provided by Wise to remit funds between your US dollar account and the US dollar accounts you have in the United States or other countries.

Does it cost anything to get an EQ Bank Card? Copy

We will talk about abundant options that meet your needs!

How do I update my name on my EQ Bank Card? Copy

Note: Payment of bills, Interac E-Transfers®, remittance from EQ to EQ cannot be used in the US dollar account of EQ Bank, but can remittance between personal accounts.

Can I get my EQ Bank Card delivered to any address? Copy

In the US dollar bank account in other countries, using the Canaddor or US dollar bank account, or using the international remittance services provided by WISE, between the Canaddor or US dollar bank accounts in Canadian financial institutions. You can remit US dollars.

How and when will I receive my EQ Bank Card? Copy

Note: If you make payments by electronic remittance (EFT), we will hold your payment to check if you can make a payment from another financial institution's account (Click here for details on US dollar account holding. Please).

What does CDIC protection mean? Copy

Unfortunately, it is not possible to make a payment to the US dollar account of EQ Bank using the remote check deposit function.

The joint account in the US dollar is not currently available.

How does EQ Bank Card cash back work? Copy

Currently, there is no handling in the US dollar.

How do I activate my card? Copy

You can remit US dollars overseas using the overseas remittance service provided by Wise.

From the desktop

How secure is my PIN? Copy

After logging in to the account, select the "Overseas Remittance" button on the control panel. You can transfer money to a US dollar account from the linked overseas account (Canadian financial institution-CAD or USD). When you send a Canadian dollar, it will first be displayed in the Canadian dollar on your personal account, and then automatically deposits a US dollar account for a US dollar. The customer's account is displayed as two steps, but only one step is on the customer side. Is it convenient? Note: The reservation period is applied (Click here for details of the US dollar account).

Why do I need to verify my identity? Copy

If you want to move funds from your personal account to the US dollar account of EQ Bank, you can move by converting it from Canada dollar to US dollar.

Why do I need to provide the last four digits of my EQ Bank Card and expiry date? Copy

If you want to move funds from a US dollar account to a personal account, you can transfer money from US dollar to Canada dollar.

How do I choose a secure PIN? Copy

You can also use the international remittance service provided by Wise to remit funds between your US dollar account and the US dollar accounts you have in the United States or other countries.

Can I start using my PIN right away? Copy

We will talk about abundant options that meet your needs!

Can I change my PIN later? Copy

Note: Payment of bills, Interac E-Transfers®, remittance from EQ to EQ cannot be used in the US dollar account of EQ Bank, but can remittance between personal accounts.

My card is lost or stolen. What should I do? Copy

Unfortunately, it is not possible to make a payment to the US dollar account of EQ Bank using the remote check deposit function.

How do I dispute a transaction? Copy

The joint account in the US dollar is not currently available.

Currently, there is no handling in the US dollar.

Unfortunately, it is not possible to make a payment to the US dollar account of EQ Bank using the remote check deposit function.

What type of card is the EQ Bank Card? Copy

From the desktop

Is the EQ Bank Card a debit card? Copy

After logging in to the account, select the "Overseas Remittance" button on the control panel. You can transfer money to a US dollar account from the linked overseas account (Canada financial institution-CAD or USD). When you send a Canadian dollar, it will first be displayed in the Canadian dollar on your personal account, and then automatically deposits a US dollar account for a US dollar. The customer's account is displayed as two steps, but only one step is on the customer side. Is it convenient? Note: The reservation period is applied (Click here for details of the US dollar account).

Will my EQ Bank Card ever expire or charge me interest? Copy

If you want to move funds from your personal account to the US dollar account of EQ Bank, you can move by converting it from Canada dollar to US dollar.

How does an EQ Bank Card compare to a credit card? Copy

If you want to move funds from a US dollar account to your personal account, you can transfer money from US dollar to Canada dollar.

You can also use the international remittance service provided by Wise to remit funds between your US dollar account and the US dollar accounts you have in the United States or other countries.
We will talk about abundant options that meet your needs!
Note: Payment of bills, Interac E-Transfers®, remittance from EQ to EQ cannot be used in the US dollar account of EQ Bank, but can remittance between personal accounts.
In the US dollar bank account in other countries, using the Canaddor or US dollar bank account, or using the international remittance services provided by WISE, between the Canaddor or US dollar bank accounts in Canadian financial institutions. You can remit US dollars.

How does an EQ Bank Card compare to a debit card? Copy

Unfortunately, it is not possible to make a payment to the US dollar account of EQ Bank using the remote check deposit function.
The joint account in the US dollar is not currently available.
Currently, there is no handling in the US dollar.
You can remit US dollars overseas using the overseas remittance service provided by Wise.

How do mobile wallets work? Copy

From the desktop

Are mobile wallets safe? Copy

After logging in to the account, select the "Overseas Remittance" button on the control panel.

What if my phone gets lost or stolen? Copy

Enter the remittance details and select a US dollar account as a source account.

Unfortunately, it is not possible to make a payment to the US dollar account of EQ Bank using the remote check deposit function.

FHSAs

What’s the difference between a First Home Savings Account (FHSA) and the Home Buyers’ Plan (HBP)? Copy

Don't worry, it's very fast and easy!

After logging in to the account, select "Remove" at the bottom of the screen.

Enter the remittance details and select a US dollar account as a source account.

Note: If you do not have a Wise account yet, you need to sign up during the overseas remittance procedure. Don't worry-very quick and easy!

The US dollar account of EQ Bank is a single account per person.

It is very easy, so please feel free to contact us!

From the desktop

After logging in to the account, select "Transfer between the Accounts" in the control panel.

Can I use the FHSA and the Home Buyers' Plan to purchase a home? Copy

Follow the instructions displayed on the screen, and transfer funds from personal account (transfer source) to US dollar account (remittance destination).

What if I don’t purchase a home? Copy

Enter the remittance amount and the conversion calculation is performed in real time.

Click "Review" to make sure there is no problem, and click "Submit" to complete the remittance (Note: 2 minutes before the exchange rate is updated).

From a mobile app

After logging in to the account, select "Remittance" at the bottom of the screen and select "Remittance between accounts" from the optional menu.

What is a qualifying withdrawal? Copy

Follow the instructions displayed on the screen, and transfer funds from personal account (transfer source) to US dollar account (remittance destination).

Enter the remittance amount and the conversion calculation is performed in real time.

Click "Confirm" to confirm that there is no problem, and click "Remove" to complete the remittance (Note: There is a 2 minute grace until the exchange rate is updated).

This is done! The online banking has a exchange rate calculation function, and you can check the rea l-time conversion rate from CAD to USD (vice versa).

The total balance between the EQ Bank US dollar account and the individual EQ Bank US dollar account is equivalent to 200, 000 Canada dollars, and 500, 000 Canadian dollars for joint accounts. Click here for the limit of your account. Enter the remittance details and select a US dollar account as a source account.

Note: If you do not have a wise account yet, you need to register during the overseas remittance procedure. Please be assured!
Don't worry, it's very fast and easy!
After logging in to the account, select "Remove" at the bottom of the screen.
Enter the remittance details and select a US dollar account as a source account.
Note: If you do not have a Wise account yet, you need to sign up during the overseas remittance procedure. Don't worry-very quick and easy!
The US dollar account of EQ Bank is a single account per person.

It is very easy, so please feel free to contact us!

From the desktop

After logging in to the account, select "Transfer between the Accounts" in the control panel.

How do I withdraw from my FHSA? Copy

Follow the instructions displayed on the screen, and transfer funds from personal account (transfer source) to US dollar account (remittance destination).

How can I compare the FHSA to an RSP or a TFSA? Copy

Enter the remittance amount and the conversion calculation is performed in real time.

Click "Review" to make sure there is no problem, and click "Submit" to complete the remittance (Note: 2 minutes before the exchange rate is updated).

From a mobile app
After logging in to the account, select "Remittance" at the bottom of the screen and select "Remittance between accounts" from the optional menu.
Follow the instructions displayed on the screen, and transfer funds from personal account (transfer source) to US dollar account (remittance destination).
Enter the remittance amount and the conversion calculation is performed in real time.
Click "Confirm" to confirm that there is no problem, and click "Remove" to complete the remittance (Note: There is a 2 minute grace until the exchange rate is updated).

This is done! The online banking has a exchange rate calculation function, and you can check the rea l-time conversion rate from CAD to USD (vice versa).

What are the advantages of an FHSA? Copy

The total balance between the EQ Bank US dollar account and the individual EQ Bank US dollar account is equivalent to 200, 000 Canada dollars, and 500, 000 Canadian dollars for joint accounts. Click here for the limit of your account. Enter the remittance details and select a US dollar account as a source account.

Note: If you do not have a wise account yet, you need to register during the overseas remittance procedure. Please be assured!
Don't worry, it's very fast and easy!
After logging in to the account, select "Remove" at the bottom of the screen.
Enter the remittance details and select a US dollar account as a source account.
Note: If you do not have a Wise account yet, you need to sign up during the overseas remittance procedure. Don't worry-very quick and easy!

What types of FHSA investments can I hold at EQ Bank? Copy

The US dollar account of EQ Bank is a single account per person.

How long does an FHSA stay open? Copy

It is very easy, so please feel free to contact us!

From the desktop

After logging in to the account, select "Transfer between the Accounts" in the control panel.

Follow the instructions displayed on the screen, and transfer funds from personal account (transfer source) to US dollar account (remittance destination).

What are my limitations to FHSA contributions and deductions? Copy

Enter the remittance amount and the conversion calculation is performed in real time.

Click "Review" to make sure there is no problem, and click "Submit" to complete the remittance (Note: 2 minutes before the exchange rate is updated).

From a mobile app

Who can open an EQ Bank FHSA? Copy

After logging in to the account, select "Remittance" at the bottom of the screen and select "Remittance between accounts" from the optional menu.

Non-Canadian residents
Customers who have temporary Sin
Click "Confirm" to confirm that there is no problem, and click "Remove" to complete the remittance (Note: There is a 2 minute grace until the exchange rate is updated).

How do I open an FHSA? Copy

This is done! The online banking has a exchange rate calculation function, and you can check the rea l-time conversion rate from CAD to USD (vice versa).

Select "Open TFSA Plan".
Unfortunately, you cannot set up recurring transfers with your EQ Bank US Dollar account.
When using a mobile app

Select "Open a new account/plan".
Tap "Open A TFSA Plan".
If you are moving to Quebec from another province or territory of Canada, you will need to transfer all funds from your USD account to a personal or external link account and close your USD account.
When using a mobile app

Follow these steps to transfer your existing RSP from another financial institution to EQ Bank.

Wise is a service that offers a cheap and fast way to send money around the world. Founded in 2011, Wise is registered with multiple financial authorities around the world and serves more than 6 million people in 71 countries. Wise Canada Inc. is registered with the Financial Transaction Analysis and Reporting Centre of Canada (FINTRAC) as a Money Services Business (MSB) under registration number M15193392. It also holds an MSB license with the Authorité des Marchés financiers (AMF) under license number 902804.

How do I transfer an FHSA or a RSP from another financial institution to EQ Bank? Copy

EQ Bank and Wise have formed a partnership to enable customers to make cheap and fast international remittances directly from their bank accounts through online banking or the mobile app.

International remittances conducted using a personal account are made by WISE, which uses HTTPS encryption and tw o-factor authentication to protect all transactions and guarantee all communication safety.

The real exchange rate is the intermediate point between the bid rate in the world's currency market, and is constantly fluctuating. This rate can be viewed in Reuters, Google, Yahoo, Economics, etc.! You can see it in economics. It is also a rate for international remittances through Wisdom.

You can check the current exchange rate and remittance fee with this computer.

How do I transfer from my EQ Bank RSP to my EQ Bank FHSA? Copy

In order to remittance overseas, you need to open a Wizdom account, but you can easily remittance overseas from the EQ Bank online banking website and mobile apps. Simply select "Overseas Remittance" and automatically move to the Wise login page. A new seat is also possible. After completing the procedure, return to EQ Bank and complete the overseas remittance!

EQ Bank Powered by Wise is transferred using the actual exchange rate, and charges a conversion fee according to the amount of money and the selected currency. You can check the conversion fee before sending out overseas in the EQ Bank account, or you can calculate the conversion fee based on the selected currency.

How do I transfer from my EQ Bank FHSA to my EQ Bank RSP? Copy

Unfortunately, you cannot cancel the transmitted overseas remittance once.

Unfortunately, after checking the details of the transaction and clicking the "Submit" button, you cannot cancel or cancel overseas remittances.

You can check the status of overseas remittance on the overseas remittance control panel. Click "Remove" and select "Overseas remittance". This screen displays your transaction history, and the past transactions are displayed as "pending", "completion", and "bounce" (displayed when full refunds to your account due to an error). 。 International remittances made with personal accounts are made by WISE, which uses HTTPS encryption and tw o-factor authentication to protect all transactions and guarantee all communication safety.

How do I transfer from my EQ Bank FHSA to another financial institution’s FHSA or RSP or Registered Retirement Income Fund (RRIF)? Copy

You can check the current exchange rate and remittance fee with this computer.

How do I submit the signed FHSA transfer form, if I decided to skip that step previously? Copy

Using a web browser:

Unfortunately, you cannot cancel the transmitted overseas remittance once.
Unfortunately, after checking the details of the transaction and clicking the "Submit" button, you cannot cancel or cancel overseas remittances.
Select "Submit a signed transfer form".

You can either download the form again or submit a signed form.

Using the mobile app:

EQ Bank Powered by Wise is transferred using the actual exchange rate, and charges a conversion fee according to the amount of money and the selected currency. You can check the conversion fee before sending out overseas in the EQ Bank account, or you can calculate the conversion fee based on the selected currency.
Unfortunately, after checking the details of the transaction and clicking the "Submit" button, you cannot cancel or cancel overseas remittances.
Select "Submit a signed transfer form".

You can either download the form again or submit a signed form.

Using the mobile app:

Completing your first transaction may take a few more minutes as you will need to log into your account and enter the new recipient's details, but once you click "send" on your transaction, you can receive the funds within 3 business days.

The recipient will receive the funds directly into the bank account specified in the transaction, so they don't need a sensible account to access the funds.

I mailed/faxed my transfer form—how do I know if it’s been received? Copy

Remember that it takes up to 6 to 8 weeks for remittance, depending on the time it takes to receive all necessary documents and how quickly other financial institutions will start remittance. please.

Other financial institutions may be charged for the transfer of TFSA to EQ Bank.

Why does it take 6 to 8 weeks when I transfer an FHSA from another financial institution? Copy

If the transfer status is "Completed", the transfer has been completed, but the money may not yet be in the recipient's account. Depending on your bank, it may take an additional business day to process the transfer and withdraw the funds.

Receive the filled form

The internal check is performed whether the form is entered correctly.
The paper is faxed by the designated financial institution.
We currently support 49 currencies, but we are adding more over time! Click on the practical list below to see which countries are supported.
Financial institutions issued and mailed checks.
The postal check is received, the time stamp is pushed, and sent to the related department.
The check is transferred to your account
Note: Currently, we have received a large number of requests, and we are working to handle it as quickly as possible.

How do I buy an EQ Bank FHSA GIC? Copy

Wait until you get a refund

If you enter the wrong amount, the payment will not be refunded. In this case, contact the recipient and tell the recipient the refusal or refund of payment.

If you enter a wrong account number and send money to the wrong account, eQ bank or wise will not be involved in dispute between the sender and the recipient, so before clicking "Sending". It is important to check the account information in the "Overview Details" section.

How do I determine my FHSA contribution limit? Copy

Yes, there is an upper limit as follows:

9. Everything excludes Chinese people (up to $ 5. 800), PKR (up to $ 8. 400), BDT (up to $ 2. 181), LKR (up to $ 7. 100), NPR (up to 11. 250), and iDR (up to $ 181) 500 Canada dollars per currency transaction.

Can I carry forward unused contributions to future years? Copy

9. 500 Canadian dollars (24 hours)

What happens if I contribute more than my contribution amount to an FHSA? Copy

International remittance services are not currently available in Quebec. If you update your address, you will not be able to use the international remittance function in mobile apps and online banking.

When must I close an FHSA? Copy

This team is working as soon as possible to use international remittances in Quebec!

How do I designate a successor and/or a beneficiary on my EQ Bank FHSA or TFSA? Copy

You can purchase up to 20 GICs. Each GIC is at least $ 100 and can be purchased up to $ 100. 000. Customers can hold GIC up to $ 500. 000, except for the earned interest.

Once GIC reaches its maturity, the funds will be transferred to your personal account (the initial investment funded account). You will receive an email or SMS notification that informs you of GIC maturity.

If your account holder dies, your relatives should call the EQ Bank customer service (1-844-437-2265 (844-4EQ-Bank)). If possible, let us know the date of death, your lawyer or trustee contact. Malfighting and mistakes in the recipient's detailed information are one of the main reasons for requesting remittance cancellation, but once the remittance is sent, it cannot be canceled. To prevent such a situation, check all recipients on the "Rating Information" screen before clicking "Sending"!

If you notice a mistake in input

Please contact the EQ Bank customer service.

Wait until you get a refund

What information do I need to designate a successor and/or a beneficiary? Copy

If you enter the wrong amount, the payment will not be refunded. In this case, contact the recipient and tell the recipient the refusal or refund of payment.

Transfer to the registered retirement income fund (RRIF) of other institutions.

RSP is intended to provide a source of income at the time of retirement, so if you withdraw funds before retirement, you will be charged a large withholding tax from the Canada Revenue Agency.
The money contributed to RSP is strictly yours, but banks will withholding with withholding taxes of 10 to 30 % and hand over it to the government. The more drawers, the higher the percentage. Once the money is withdrawn, the room for contribution in the account is lost forever. 18 % of the previous taxation year's income. In many cases, the income to be RSP is the amount described in the box 14 of the T4 slip. Income includes sel f-employed pure income, CPP/QPP for persons with disabilities, and net rental income.
From the annual contribution limit of the taxation year, the compan y-specific retirement pension contribution is defined as the abbreviation of the T4 slip PA or "Retirement Adjustment".
The contribution limit is determined by the Canadian government. You can check your contribution limit at the personal My count of the Canadian Revenue Agency (CRA) website.
All financial institutions holding RSP are responsible for tracking the contribution every year.

What happens when my EQ Bank FHSA GIC reaches maturity? Copy

You can purchase up to 20 GICs. Each GIC is at least $ 100 and can be purchased up to $ 100. 000. Customers can hold GIC up to $ 500. 000, except for the earned interest.

Will I be able to use my FHSA contributions as a tax deduction? Copy

If your account holder dies, your relatives should call the EQ Bank customer service (1-844-437-2265 (844-4EQ-Bank)). If possible, let us know the date of death, your lawyer or trustee contact. Most of the recipient's detailed information and mistakes are one of the main reasons for requesting remittance cancellation, but once the remittance is sent, it cannot be canceled. To prevent such a situation, check all recipients on the "Rating Information" screen before clicking "Sending"!

If you notice a mistake in input

Please contact the EQ Bank customer service.

How will I receive my tax slips for my EQ Bank FHSA? Copy

Wait until you get a refund

If you enter the wrong amount, the payment will not be refunded. In this case, contact the recipient and tell the recipient the refusal or refund of payment.

Is there a fee to transfer my EQ Bank FHSA to another financial institution? Copy

Will EQ Bank reimburse the transfer fee charged by my other financial institution to transfer my FHSA? Copy

Yes, there is an upper limit as follows:

How many FHSA accounts can I hold at EQ Bank? Copy

How many FHSA GICs can I hold? Copy

9. 500 Canadian dollars (24 hours)

How do I contribute to my FHSA? Copy

You can purchase up to 20 GICs. Each GIC is at least $ 100 and can be purchased up to $ 100. 000. Customers can hold GIC up to $ 500. 000, except for the earned interest.
Select a TFSA savings account as a remittance account.
If your account holder dies, your relatives should call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)). If possible, let us know the date of death, your lawyer or trustee contact.
You may cancel your EQ Bank GIC purchase without penalty within one day after the effective date and have the right to a full refund of your investment funds. No interest will be paid. Log into Online or Mobile Banking to cancel your GIC purchase within the time frame. Once the cancellation period has passed, your GIC cannot be cashed and your funds will be locked. Please see the EQ Bank GIC Terms and Conditions for more information.
Use a mobile app

You can view your T5 tax return by logging into your account through the EQ Bank mobile app or online banking website.
You can view your current and past GIC purchase history by logging into your account.
Mail the form to: EQ Bank Digital Banking Attn: Registered Products
Select a TFSA savings account as a remittance account.
If your account holder dies, your relatives should call the EQ Bank customer service (1-844-437-2265 (844-4EQ-BANK)). If possible, let us know the date of death, your lawyer or trustee contact.
We work behind the scenes to keep your personal information safe. For more information, see our Privacy Policy.
If you want to transfer a part of the wise advice TFSA to the EQ bank TFSA deposit account, the best timing of the drawer is as late as possible, basically late December.

Does EQ Bank offer a spousal FHSA? Copy

You will earn interest on the total card balance. Interest will be credited to your personal account each month. Interest is calculated daily on the total card balance and calculated at the stated annual percentage rate. The interest rate on the card is always the same as the interest rate on your personal account.

When an FHSA GIC matures, does it get taxed? Copy

Your Mastercard® Prepaid card can be used anywhere Mastercard® Prepaid cards are accepted, both in Canada and abroad.

Are there any withholding taxes charged on an FHSA withdrawal? Copy

You can also use your Mastercard® Prepaid card anywhere Mastercard® Prepaid cards are accepted internationally. Mastercard currency conversion rates apply to foreign currency transactions.

Note: If you do not have a wise account yet, you need to register during the overseas remittance procedure. Please be assured!
These restrictions are based on economic and trade sanctions imposed by regulatory agencies.
After logging in to the account, select "Remove" at the bottom of the screen.
Enter the remittance details and select a US dollar account as a source account.
Note: If you do not have a Wise account yet, you need to sign up during the overseas remittance procedure. Don't worry-very quick and easy!
The US dollar account of EQ Bank is a single account per person.

MasterCard MoneySend (intrastate, interstate, card funding/loading)

From the desktop

After logging in to the account, select "Transfer between the Accounts" in the control panel.

How much can I deposit into my EQ Bank FHSA? Copy

If your card is lost or stolen, you can easily lock it through the EQ Bank mobile app, online banking, or by calling 1-844-437-2265 (1-416-551-3449 outside North America). It is also protected by the Mastercard Zero Liability policy.

You can use the EQ Bank mobile app or online banking to withdraw funds from TFSA and move to the next account:

How much can I hold in EQ Bank FHSA GICs? Copy

A linked account is a personal or joint account that you use to transfer money to or from your EQ Bank card. Personal and joint accounts are the only account types that can be linked to your card.

Taxes

Where can I find my tax slips? Copy

There are no monthly fees, international transfer fees, or hidden fees. Want to learn more about billing? Learn more.

When will my EQ Bank tax documents be available? Copy

Limit one EQ Bank Card per person.

What type of tax slips does EQ Bank issue? Copy

Limit one EQ Bank Card per person.

What will be included in EQ Bank T5 slips? Copy

Funds added to your EQ Bank Card are instantly available in your EQ Bank personal account.

How is interest earned in December 2023 but paid in January 2024 applied to a T5? Copy

No fees for withdrawals at ATMs in Canada. We also refund any out-of-network fees or surcharges from other providers in Canada within 10 business days.

When is the deadline for RRSP contributions? Copy

Limit $10, 000 per day and $10, 000 per transaction.

What are the withholding taxes charged on an RRSP withdrawal? Copy

If you want to withdraw funds from the EQ Bank RSP based on the Lifelong Learning Plan, please call the EQ Bank Customer Service Team (1-844-437-2265, 844-4EQ-Bank).

RSP needs to reach its maturity by the end of the year when the pension recipient is 71 years old.

What are some important tax dates in 2024? Copy

Unlimited transactions up to $10, 000 per day.
You can order your EQ Bank Card through the EQ Bank Mobile App or Online Banking.
There are no fees for ordering or replacing your card.

How is interest from non-registered GICs reported on a T5 tax slip? Copy

To change the name on your card, please call 1-844-437-2265.

Your card will be mailed to the address registered on your personal account.
Your card will be mailed to the address registered on your account. You should receive it within 5-10 business days. If you have not received your card or have any delivery issues, please call 1-844-437-2265.
Canada Deposit Insurance Corporation (CDIC) is a federal government corporation that protects deposits up to 100. 000 CAD per insured person in the unlikely event of a bank failure.
For more information, see the CDIC brochure "Protecting Your Deposits."
Earn 0-50% cash back* on your card usage. Cash back is deposited on your card monthly. Cash back does not apply to recharges, ATM withdrawals, cash advances or credits. Cash back will reduce the amount of cash back earned.
Once you receive your card in the mail, you can begin activation through the EQ Bank mobile app or online banking. You will be required to enter your card information, verify your identity, and create a PIN. Once you have completed the process, you can link your card to one of your personal accounts and transfer funds to your card.
If you have any questions or concerns, please contact us at 1-844-437-2265.
EQ Bank does not store your PIN information. We also mask the PIN numbers as you enter them so that you cannot see them.
EQ Bank does verify your identity. Please make sure that your phone number and email address in your EQ Bank profile are correct in advance.
The last four digits of your card and the expiration date are necessary to ensure that you have received the correct card.

Make sure to choose a four-digit number that is truly random or has a unique meaning to you. Avoid standard PINs such as 1234, 0000, or your date of birth.

Once your EQ Bank card is activated, your PIN will allow you to make online transactions. However, if this is your first in-store purchase, a Chip & PIN transaction will be required to sync with your physical card.

Will I receive a tax slip for my FHSA contributions and (or) withdrawals? Copy

You can change your PIN at any time through the EQ Bank mobile app or Mobile Banking. Once you set your new PIN online, activate your EQ Bank card with it at a branch or ATM.

If you lose your card or suspect it has been stolen, lock it through the EQ Bank mobile app, Online Banking or by calling the phone numbers below.

What should I do if I think there’s something wrong with my tax documents? Copy

If you are suspected of losing or theft or theft, or if you find it, please contact the following phone number immediately. We will send an alternative card within 5 to 10 business days.

When will EQ Bank report TFSA contribution room to the CRA? Copy

Please contact 1-844-437-2265 or 1-416-551-3449 (other than North America).

Is there a separate tax slip for the Personal Account and the Joint Account? Copy

yes! This is the best way to manage your donation.

Does EQ bank send tax information directly to the CRA and Revenu Québec? Copy

If you are aware of the merchant, first contact the member store and check if there is a solution. If the merchant is not able to respond, or if you do not intend to respond, please call the following number and file a customer service and objection.

Bonus Interest Offer

How can I start earning 4% interest on my Personal Account, Joint Account and on my EQ Bank Card balance? Copy

Please contact 1-844-437-2265 or 1-416-551-3449 (other than North America).

When will I start earning 4% interest and for how long? Copy

The EQ Bank Card is a prepaid r e-double card that allows you to use your personal account or a joint account, and you will have a high interest on the card balance until you use it, and you will be cashed back.

Can existing eligible customers also earn 4% interest? Copy

The EQ Bank Card is a prepaid card that can do the same as a debit card. The EQ Bank will also pay the ATM fee in Canada.

How will I know when I start earning 4% interest? Copy

The EQ bank card does not require any fees or interest rates. The card expiration date is 4 years. A new card will be sent near the expiration date, and the balance of the card will be automatically shifted to a new card.

How can I find out if my deposits are eligible for this offer? Copy

The difference between EQ bank card and credit card is as follows:

Househol d-friendl y-because you spend your money.

There is no risk of paying debt or interest

Annual membership fee, overseas transaction fee free 1 year membership fee, overseas transaction fee is free	Because there is no credit, it does not affect the credit score	EQ Bank Card has some advantages that many debit cards do:
200	You don't need to maintain the minimum balance to avoid paying the fee, so you can use your money at any time.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
230	It is much better than a debit card.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
231	Instead of using a physical card, you can add card payment information to a mobile phone application such as Apple Pay or Google Pay to make no n-contact payments.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
232	If your mobile phone is lost or stolen, please contact the following phone number in EQ Bank immediately. Also, lock the card from the mobile app, online banking, or the following phone number. You may also need notification to the wallet provider.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
233	With the current housing buyer plan, you can withdraw up to $ 60. 000 from RSP to buy a house. Later, for 15 years, the funds must be returned to RSP (retirement savings plan).	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
240	In the home buyers plan, you can withdraw funds from RSP and buy or construct the targeted houses for yourself or related to disabled people.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
308	Did you know that you can combine FHSA and HBP? You can make the most of both programs to make up to $ 100. 000 (plus FHSA investment growth) in advance. Is it convenient?	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
310	The eligible withdrawal is regarded as "the first person to buy a house" is a qualified house (or if it is in Canada in Canada in the calendar year before the withdrawal (excluding 30 days just before withdrawal) or a previous 4 calendar year. Is a sel f-owned or c o-owned house, not a house that is considered a qualified house). < SPAN> Yes, mobile wallets are safe. The data is encrypted and no card information is seen. Before mobile payments, access authentication, fingerprint authentication, and face authentication are required.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
311	Please contact 1-844-437-2265 or 1-416-551-3449 (other than North America).	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
312	Unlike housing purchase plans, FHSA does not need to return funds.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
313	Currently, the HBP drawer limit is $ 60. 000. Unlike HBP, FHSA does not need to repay funds, and there is no drawer limit. Eligible drawers*are ta x-exempt.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
314	*In order to perform a "qualified drawer", he is the first buyer in Canada, and agreed in writing to purchase or construct a qualified house in Canada by October 1, the year following the drawer. It is necessary to use the qualified house as a main residence within one year after purchase or construction. It should not be more than 30 days before leaving for the acquisition of a qualified house.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
315	If your mobile phone is lost or stolen, please contact the following phone number in EQ Bank immediately. Also, lock the card from the mobile app, online banking, or the following phone number. You may also need notification to the wallet provider.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
316	With the current housing buyer plan, you can withdraw up to $ 60. 000 from RSP to buy a house. After that, for 15 years, the funds must be returned to RSP (retirement savings plan).	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
318	In the home buyers plan, you can withdraw funds from RSP and buy or construct the targeted houses for yourself or related to disabled people.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
600	Did you know that you can combine FHSA and HBP? You can make the most of both programs to make up to $ 100. 000 (plus FHSA investment growth) in advance. Is it convenient?	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
601	The eligible withdrawal is regarded as "the first person to buy a house" is a qualified house (or if it is in Canada in Canada in the calendar year before the withdrawal (excluding 30 days just before withdrawal) or a previous 4 calendar year. Is a sel f-owned or c o-owned house, not a house that is considered a qualified house).	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
602	Yes, you can. You can do the drawer from FHSA (up to $ 40. 000, increase the account principal) and drawers from HBP (up to $ 60. 000) for the same qualified purchase.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
603	Alternatively, the balance of FHSA, which was not used for purchasing a qualified house, can be moved to EQ Bank RSP on a ta x-exempt carryover based on the applied rules.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
604	The funds transferred to RSP are taxed after the drawer.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
605	A qualified house refers to a house in Canada. It also includes capital stocks of corporate housing corporate, which has the right to own houses in Canada.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
606	In addition, you must use a qualified house as a main residence within one year after construction.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.
607	To make a qualified drawer from FHSA, you need to fill out the RC725 application. < SPAN> Targeted houses are defined as houses in Canada. Existing housing and construction houses, including detached houses, hal f-detached houses, town houses, mobile houses, condominium units, tw o-family housing, thre e-family houses, fou r-family houses, apartment buildings, and apartments. Included, but the condominium unit alone does not allow you to rent the house.	Interest is high for card balance (the same is true for EQ bank's personal account). This is something that can not be said for most debit cards or current deposit accounts.

Will I still get 4% interest if I have my direct deposits across multiple accounts? Copy

Of the funds withdrawn from the FHSA, the funds that were not used for purchasing the target housing are subject to withholding, and the withdrawal amount is added to the taxable income of the year. In addition, the room for FHSA's contribution is not redesigned.

My paycheque already goes into my EQ bank account - can I still earn 4%? Copy

Alternatively, the balance of FHSA, which was not used for purchasing a qualified house, can be moved to EQ Bank RSP on a ta x-exempt carryover based on the applied rules.

Why am I still earning 2.75%? Copy

Transfer from FHSA to RSP does not affect available RSP contributions.

The funds transferred to RSP are taxed after the drawer.

Why did my interest rate revert to 2.25%? Copy

To make a qualified withdrawal*, you must buy a qualified house for the first time at the time of withdrawal and live in Canada.

Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

Simply initiate an EFT through EQ Bank's mobile or online banking application by clicking the “Transfer” option and then choosing “Transfer to EQ Connection.”. Up to $ of each cheque you deposit to your bank account will be available for withdrawal on the business day following the day of deposit when you contact. EQ Bank US Dollar Account; Summary of Best EQ Savings Accounts In Canada; Methodology; Banks We Monitor; Frequently Accessed Questions (FAQ). Best Ofs. Best.

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