EQ Bank Quebec Is Finally Coming: What This Means For Quebec Residents

EQ Bank Quebec is finally happening! Fantastic news for Quebecers looking for non-traditional, high interest banking options.

The EQ Bank website presents a popup to anyone switching the page from English to French, inviting readers to join the waitlist and be one of the first to know about the bank’s launch in la belle province.

Here’s what you should know.

EQ Bank Quebec is finally happening

We first heard about the possibility of EQ Bank in Quebec back in August of 2022, when the bank reported on its Q2 performance and announced its plans for the coming year.

At the time, President and CEO Andrew Moor stated, “Priorities for the current quarter include … the launch of EQ Bank in Quebec.” He also mentioned the launch of EQ Bank’s payment card and a few other details.

With the new popup on the EQ Bank website, it’s clear that this priority is nearing fulfillment:

You can navigate to eqbank.ca/fr and wait a second for the popup to show up, then enter your details to get on the waiting list and be the first to know more details.

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What can people expect from EQ Bank in Quebec?

New clients of EQ Bank in Quebec will have access to several top-rated banking and investment products from a well-respected challenger bank – in fact, they’ve been on Forbes’ list of the best banks in the world for the past 2 years.

Here’s a look at a few of the high quality financial products that will be available for Quebec-based EQ Bank customers:

• EQ Bank Personal Account
• EQ Bank TFSA Savings Account, and
• EQ Bank GICs.

As of right now, the new updated terms for the RSP Savings Account still indicate it’s not available in Quebec.

The EQ Bank Personal Account is an especially attractive banking product. Customers will enjoy these top features, plus more:

• no monthly banking fees,
• free Interac e-transfers,
• no minimum balance requirements,
• CDIC insurance, and
• 3% interest.

The 3% interest makes it one of the best high interest savings accounts in the country.

You can learn more about what the EQ Bank Personal Account has to offer here:

EQ Bank Personal AccountCompare

Open an accountLearn more

Minimum Interest Rate

1%

Maximum Interest Rate

3%

Balance Required For Maximum Interest Rate

$0

Overview Pros & Cons Product Features

Overview

5.0 Genius Rating

4.0 (6) User Reviews

If you’re looking for a simple place to stash some extra cash and earn a higher-than-average interest rate, EQ Bank Personal Account may be exactly what you’re looking for. It does have a few other features, including the ability to easily send International Money Transfers, but otherwise it’s mostly geared to earning you interest.

Pros & Cons

Pros

• High daily interest rate
• Easy access to all other EQ Bank products
• Less expensive international money transfers
• Zero everyday banking fees
• Free Interac e-Transfers, electronic funds transfers, and bill payments
• No minimum balance

Cons

• No welcome bonus

Product Features

Provinces

ALL

Eligibility

• Age of majority
• Canadian citizen

Why You Want It

One of the highest interest rates at 3%* + Free Interac e-Transfers.

Special Features

• Very high interest rate
• Includes a prepaid cash back Mastercard
• No ATM fees, plus reimbursement for any independent fees

# Of Free Transactions

Unlimited

# Of Free Interac E-Transfers

Unlimited

Max Promotion Rate

N/A

Welcome Bonus Value

N/A

Promo End Date

N/A

 

Does the EQ Bank Quebec news excite you?

Now that you know a bit more of what EQ Bank in Quebec will look like, what do you think? If you’re a Quebec resident, will you be putting your name on the waitlist?

Let us know in the comments below!