The EQ Bank Savings Plus Account reimagines banking by offering an everyday high interest rate plus the flexibility of a chequing account, with unlimited transactions, no … COVID-19 update—EQ Bank remains committed to delivering great service and better banking. We’ve partnered with TransferWise to make sending money abroad a whole lot cheaper. compare mortgage rates. The best of all, they charge (currently) zero everyday banking fees. Our Savings Plus Account now comes with a joint account feature, where you can share—and earn—money with up to three other people. ElitePersonalFinance. This account charges zero fees for … Features of the EQ Bank Savings Plus Account: No minimum balance is required to earn the 1.50*% interest. The main benefits of the Savings Plus Account include: Some of the biggest drawbacks of a Savings Plus Account include: To open a savings account with EQ Bank, click Go to site on this page to begin filling out an online application. EQ Bank’s Savings Plus Account is the one of the best options in Canada for your daily banking needs. The referred individual only needs to open an EQ Bank Savings Plus Account using a valid referral link and fund their account with a minimum of $100 within 30 days of account activation. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, Yahoo, CBOE and Forbes. Compare Mortgages. EQ Bank Joint Savings Plus Account. Disclaimer - We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. EQ Bank offers a high interest savings account with free transfers and zero everyday banking fees to help you accelerate your savings over time. Freelancer or traveler, no matter what you do, building a nest egg is possible. Finder is committed to editorial independence. To open up an EQ Bank TFSA, you have to have an EQ Bank’s Savings Plus Account and there is only one EQ Bank TFSA allowed per customer. Rates are per annum and subject to change without notice. Sam Bourgi is a contributing writer to Finder.com, where he specializes in financial markets. Sign-up is easy and completely online! Share and earn money with those you know and trust the most, while enjoying free transactions, no minimum balance, 1.50% interest*, and more. Cash Back Mortgage Rates. How Debt Consolidation Affects Credit Score. That’s why we’ve made joint money matters as easy as a click and a tap. EQ Bank offers all of its products and services online and through a mobile app, which means it doesn’t have any physical branches. There is even a group of people called “ratechasers” that move funds from account to account, always looking for a slightly higher yield. This easy-to-use banking account earns high interest and allows you to pay your bills as well. While. Almost everything you do is online, so why shouldn’t your savings account be too? Note that you do need to open an EQ Bank Savings Plus Account if you want to set up an RSP and TFSA account. time to start saving for retirement. Mortgages. Last Update: June 3, 2020 • Loan Reviews • Online only banks offering high interest savings accounts are becoming very popular. By submitting, you agree to the Finder Privacy and Cookies Policy and Terms of Use & Privacy Policy, 901 King Street West Suite 400 Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor. Share and earn money with those you know and trust the most, while enjoying free transactions, no minimum balance, 1.50% interest *, … Your information will be validated online in a few seconds once you complete the application. I still maintain a daily chequings account for my day-to-day needs (and other banking requirements) as well as a brokerage account for retirement investing. Enjoy zero everyday banking fees, free transactions and no minimum balance with a Savings Plus Account from EQ Bank. Interest is calculated on a … ™ Trademark of Equitable Bank, All Rights Reserved. It is a perfect way to save for your short to medium term goals without the fear of … We may also receive compensation if you click on certain links posted on our site. It currently offers an interest rate of 2.45%. EQ Bank's flagship product is their Savings Plus Account, which gets you high interest on every $1 you save – with no hassle. All Bank Mortgage Rates. EQ BANK SAVINGS PLUS ACCOUNT. EQ Bank Savings Plus Account Review . As of writing, the EQ Bank TFSA rate is 2.30%* (Interest is calculated daily on the total closing balance and paid monthly. Instead, you can move your money between your EQ Bank account and linked accounts (bank accounts held at other financial institutions such as TD Bank, RBC, Scotiabank and BMO). In either case, transfers are free of charge. Stand-out features of the EQ Bank Savings Plus Account EQ Bank markets its high-yield savings account as a tool to complement your banking experience. Earning more interest than you would at other banks feels even better. EQ Bank's savings account is called the Savings Plus Account. EQ Bank TFSA features Get competitive rates when you open a savings account or GIC. EQ Bank’s Savings Plus Account is a fantastic offering in this category (for personal banking only; they don’t offer business accounts). Added to wishlist Removed from wishlist 0. Want to learn more about savings accounts? Plus, you can sign up and link an external account for recurring contributions in just a matter of clicks. While this is a savings account, in many ways, you are able to use it as a chequing account. In today's video I review the EQ Bank's Savings Plus Account. You can use any of the deposit methods mentioned above to transfer funds out of your Savings Plus Account for withdrawal. April 30, 2020 High-Interest Savings Account, Savings Accounts. We may also receive compensation if you click on certain links posted on our site. It's easier to help you keep more money in your pocket that way. Watch the video to find out why its one of best high interest savings account in Canada. EQ Bank’s Savings Plus account, or, in other words, their high-interest savings account (HISA), is unlike any high-interest savings account in Canada. Even during the pandemic, EQ Bank was one of the last banks to cut their rates – a testament to their commitment to excellence. To be eligible for a Savings Plus Account, you must meet the following criteria: To deposit funds into an EQ Bank Savings Plus Account, you need to set up a transfer from an existing account. EQ Bank’s Savings Plus Account, by the name itself, is an enhanced savings account where you can enjoy high interest and the flexibility of a chequing account. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. In fact, its main selling point is the 2.3% interest rate that comes with the EQ Bank Savings Plus Account. The EQ Bank TFSA is also not open to Quebec residents. Peace of mind, on lock Deposits held in EQ Bank products are eligible for CDIC deposit insurance†. We’re all about better banking—for everyone. Plus, get no fees, no minimum balance, and more. All with online sign-up. If you are unsure you should get independent advice before you apply for any product or commit to any plan. ratehub. We may receive compensation from our partners for placement of their products or services. Enjoy all the benefits of earning more (and saving more) as you do with your EQ Bank Savings Plus Account, but with friends and family, too! Each month, you may make as many withdrawals as … EQ Bank’s Savings Plus Account does have some really compelling features. Now before you start emailing 100 friends, there are … The real (mid-market) exchange rate is used and the small upfront fee you pay to Transferwise is often up to 8 times cheaper than what you would pay to the big banks. He has spent the past nine years focused on economics, markets and cryptocurrencies. EQ Bank Tax Free Savings Account; EQ Bank has finally introduced RSP and TFSA accounts. Both the RSP and TFSA will be limited to a savings account and GICs. Going digital means no everyday banking fees, a high interest rate, convenient banking, and customer service available 7 days a week from 8 AM to midnight, Eastern Time. EQ Bank TFSA Savings Account The EQ Bank TFSA is a Canadian dollar denominated account that lets you save and earn more on your money completely tax-free. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. That’s why we’ve made joint money matters as easy as a click and a tap. The eye-popping 1.50%* interest rate is NOT a teaser rate, and has proven its sustainability over time. No, EQ Bank doesn’t have debit cards and ATMs. Using your EQ Bank Savings Plus account, you can now easily send money in 17 currencies to 46+ countries for less. Equitable Bank is a member of CDIC. EQ Bank’s Savings Plus Account – High-Interest Savings Account (HISA) Most traditional savings plus accounts at most of the major banks have high-interest rates savings accounts, but, the paradox is that the accounts don’t pay “high-interest”. EQ Bank offers a high interest savings account with free transfers and zero everyday banking fees to help you accelerate your savings over time. EQ Bank is a trade name of Equitable Bank. High daily interest rate. That means there are no monthly fees to worry about, or minimum balances either. Also called the Savings Plus Account, the EQ Bank Savings Plus Account offers you facilities of limitless fund transfers and withdrawals without incurring any fee. Variable Mortgage Rates. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. As you can imagine, it’s similar to its Savings Plus Account where you get a good interest rate without having to pay everyday banking fees. But unlike most checking accounts, you’ll also earn a 1.50% * APY. Retirement on autopilot—pretty clever. There are no monthly account fees. Canada’s popular online bank, EQ Bank, recently introduced a Joint Savings Plus Account. Enjoy zero everyday banking fees, free transactions and no minimum balance with a Savings Plus Account from EQ Bank. All Broker Mortgage Rates. Fixed Mortgage Rates. Whether you sign up for a one or five-year term, we aim to give you one of the best rates in the business. Check out our helpful guide. 1. Maximize your returns by ditching money market funds How GICs fit into your investment strategy We made it super easy to sign up, too. To deposit funds, you can send Interace-Transfers®, set up an electronic funds transfer (EFT) or link two accounts together. No matter what you’re saving towards, we equip you with tools to make it easy to set up and track your progress. Whatever your goals, surpass them in no time with 2.30% tax-free interest*! Get More, Together with a Joint Savings Plus Account We’re all about better banking—for everyone. Fortunately, EQ Bank has listened to its consumers and has introduced the EQ Bank Tax Free Savings Account. Read my EQ Bank Tax Free Savings Account review now for the full details. With 2.30% tax-deferred interest*, zero fees, and no minimum balance, now’s the best (and smartest!) You can use the EQ Bank Savings Plus Account to pay bills and such like a checking account. No, EQ Bank doesn’t offer a chequing account at this time. We’re sorry, the EQ Bank website doesn't work properly without JavaScript enabled. With an EQ Savings account, you can bring savings and chequing activities into one all-purpose account. The EQ Bank Savings Plus Account is another tool to add to your overall money management system and serves as a great solution for saving. These are separate products from the HISA account. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Promotions and Rate Premiums are excluded. There’s no monthly fee or minimum balance. The 1.50% daily interest rate on their savings account is, frankly, excellent, and has remained stable in spite of recent events.If you’re looking to stash some money away as an emergency fund or just to use as your daily banking account, this interest rate is hard to beat. Con #4: No physical location, only … Optional, only if you want us to follow up with you. You can earn an everyday competitive interest rate and make use of five Interac e-Transfers every month free of cost. The main account most people are interested in is the EQ Bank Savings Plus Account, which features an attractive interest rate of 2.30%*.In the Canadian Savings Account arena, a 2.30% interest rate is among the highest around. Equitable Bank is a member of CDIC. Assumes no additional deposits or withdrawals made. Mobile/remote check deposit,Bank transfer, age of the majority in your province or territory, Be a resident of Canada and live outside of Quebec, Be the age of the majority in your province or territory, or older with a valid Social Insurance Number (SIN), Contact information (address, phone number and email address), Personal information (date of birth, occupation, SIN). Based on research conducted by Equitable Bank comparing HISA interest rates of Canada’s ‘Big 5’ banks over a 12-month span on an investment of $100. EQ Bank's Savings Plus Account allows you to withdraw funds and pay bills just like you would with a checking account. You’ll be asked to verify your eligibility and fill out the required information. EQ Bank is a trademark of Equitable Bank. The transfer can be from another EQ Bank account or any other financial institution. We don't have monthly fees. Interest is calculated daily on the total closing balance and paid monthly. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. It’s fast and simple too—when you send it using TransferWise direct from your EQ Bank account. Since EQ Bank doesn’t have ATMs or physical branches, the primary method of withdrawal is through the electronic transfer process. All you have to do is sit back, relax, and watch your shared savings grow. EQ Bank’s Savings Plus account is their signature product. The Tangerine savings account and EQ Bank Savings Plus Account are great options for Canadians to get the highest return on their savings, both with pros and cons. A Joint Savings Plus Account gives you free transactions and makes it simple to see when transactions were made, so it’s easy to track all your money moves. rates by provider. For full functionality of this site it is necessary to enable JavaScript. With no hidden fees and the real exchange rate, it’s just another way we’re making banking better. The Savings Plus Account features an everyday high interest rate, as well as unlimited free transfers and withdrawals. In fact, at 0.5% or less, I would barely call them an interest-bearing vehicle. Can I use ATMs to deposit and withdraw money? Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Saving for a down payment, a rainy day, or a dream vacay? Unlimited Free Interac e-Transfers®. Another main benefit of the Savings Plus Account is that it comes with five free Interac e-Transfers per month. Earning interest feels good. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Toronto, ON, Canada M5V 3H5. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. This means that couples, friends, and family can now save money together in a shared account while earning a high-interest rate.. An EQ Bank savings account offers a bunch of benefits including zero fees and chequing capabilities that make managing your money so much easier. The EQ Bank Savings Plus Account allows you to maximize your savings with high interest rates, zero everyday banking fees and simple e-transfers. Get more details on the EQ Bank EQ Bank Savings Plus Account and connect with EQ Bank now! Pretty easy, right? While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Its primary use is to link with your main bank account and transfer funds to it. HELOC Mortgage Rates. With an almost unheard of 2.00% everyday interest rate*, you can park your savings here and let it grow while maintaining access to your funds. The savings account is designed to help you track your progress and achieve practical savings goals. EQ Bank Savings Plus Account: EQ Bank Savings Plus Account. Research considered comparable high-interest savings account interest rates based on data taken from public websites as at June 19, 2020. Or placement of their products or services covered by our service is sit back, relax, and watch shared. They charge ( currently ) zero everyday banking fees and the real exchange rate as. Bills and such like a checking account method of withdrawal is through electronic... Withdraw money not open to Quebec residents and connect with EQ Bank ’ s just another way we ’ all... You with the tools you need to make better decisions are unsure you should get independent advice before you for... 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