Reviews of Equitable Bank (Bank)

B M

One of the most unreliable unorganized lenders out there . None of the statements they make is reliable as they always go back and change their position.

Alex B

Very poor customer service. Automatic deposits don't go through, then two deposits come out instead of one. You try to reach them through chat and the chat disconnects. You try sending email, and no one cares to even respond. I will be moving all my money away and absolutely don't recommend using them. This is hard earned money we are talking about, not a pint of beer... Update: waiting for 3 weeks for someone to respond to my email inquiry. Don’t think this will ever happen. All you need to know about eq bank...

Nicole Delaine

Do not bother. There has been absolutely zero customer service training with any of the employees here.

Cameron Warje

Still the best interest rate you can find in 2020 for a savings/chequings account. Unfortunate that the site goes down so frequently.

Vladislava Govednik

I have been customer of EQ bank for two year now. They have best savings accounts available. I used them only for my savings but recently started paying bills too. I had talked to customer service over the phone multiple time including when my other's bank account was hacked into and I had to make sure my savings are safe. Every time customer representative was helpful and polite. I have nothing but good experience with EQ and I am honestly surprised by all the negative reviews out there

lily liu

Great rates for savings account, but their online service is SO unreliable for an online bank! The two times when I actually needed to do things on the website (buy GIC and transfer money globally), the error page always shows up and says they are working on fixing the issue. It's good for a savings account, but very unreliable if you use EQ bank for general living expenses.

Phil Hancyk

Questionable service and poor online customer experience, especially for an online bank.

Rolando Vallarino

This bank had 3 months to review my mortgage application before completion date, and on the day of completion they decided they could not lend to me based on some frivolous excuse that had nothing to do with my ability to pay the mortgage (which I had put 60% down payment on!). Even the night before they assured me they have everything they need to complete. Do no trust these guys, they didn't even bother to refund my costs for the ripoff appraisal ($367!) or issue an apology or anything. They nearly screwed me over big time and had to scramble to find another lender in a few days. DO NOT USE THEM!

Emily Chan

Horrible customer service, on the phone for 2 hours just to be referred back to an email, with no option to just get them to call back. Won't reply to emails at all, they screwed up my name and yet - its been more than a month and my name is my last name twice. When I called previously out of concern that no one responded after ID verification, the lady just said oh yeah we're really busy, just wait 5 more days. Are you so busy you can't even update your website on the wait times? The message literally said call us if you do not hear back in x days. It was already > x days. They were fast on getting my money in after I called in, even though they initially rejected me my documents don't match my name because someone on their end listed my Last name as my first name - WITHOUT even correcting my name so months after my name is still wrong despite approving me. When I asked why this happened they blamed it on autocorrect, but I signed up for Simplii at the same time and they managed to get my first name and last name correct - guess my autocorrect is just selective or something?

Jack Fibowski

One of the highest savings account interest rate (2.3% at the time of review) to have a in British Columbia. They gave me a T5 statement even though I made less than $50 in interest in 2017. Other banks would not even bother and require me to carefully add my monthly interest up for taxes.

T Komoski

My money is growing faster than I am $eriously ...

Harman B

Tried making an account with these guys a year ago. This time was the last. Confirmed my identity at Canada post 2 times, I have to contact them to contact them for confirmation. Then they call me again to confitm my ID. I call them back they want me to spell my name ok no problem. The guy could not hear me spelling my name. I don't know man. I literally filled an application typed my name. Can't you just bring that up. I lost my cool, ended the call. If in the beginning they're like this how am I going to solve my banking problems. I can't Even imagine depositing money in this bank then having to deal with confirming your ID. They should have a better system of ID confirmation, that is both convenient and safe.

Marc Cam

Imagine an account that allows unlimited online transactions, pays the best interest by far in Canada, has savings goals built in and it's all for free. That's EQ Bank. It's great. From time to time they have some website issues, but I still keep a small account at another bank as an emergency in case it is down when I need the money. I keep 90% of my cash and non risk investments (GIC) here. I do recommend this service to friends

Cameron Schmid

Great basic savings account interest rate and zero charges for e-transfers. If you want a standard savings account this is a great option. Can't comment on mortgages and such but i would never use an e-bank for something like that.

Joseph Janes

What started from an add to open a savings account with higher than normal interest rate in 15 minutes.. turned into a week of email and document tag and an hour long chat window.. and never ended.. they could not even get my name right..

Ruotong Zhang

It restriced my account for more than 2 months..... I know that I need to provide documents that they need. But everytime I provide the document, it took 2-4 weeks to reply me that the document was not that need. Any they do not tell me why the document was not meeting requirement ...... When I asked customer service, he/she told me that 'Even if I ask them I am not allowed to share the information. I am sorry for the inconvenience' ..... That is my account and my information...... and I have not idea why I can not know..... I am using another bank like this and everytime I got question they replied to me in 24 hours....... but this one ...... 2.5 months for dealing with one document......... :(

Bryan B

EQ Bank may offer good interest rates buy they have horrible customer service. The account creation and account linking processes were nightmares. The agents are friendly enough, they just can’t resolve any issues. And speaking to a supervisor doesn’t help. In fact, most of the supervisors didn’t even bother to call back as promised. When you call yourself, you’ll have to wait on hold for a solid hour…if you’re lucky enough not to get disconnected while waiting in which case you’ll have to start all over again. If you do connect with an agent or a supervisor, they’ll refuse to give you their contact info so when they fail to follow up as promised, you’re left calling and starting all over again with a different person. The bottom line is no one takes ownership of any issues and fixes anything. This fiasco went on for weeks until I finally got so fed up I just closed the accounts and went elsewhere. But before I left they made sure to advise me that I could never come back if I closed my accounts. In other words, if you ever leave even after they fail to provide the simplest service for which they’re in business, you’re blacklisted. What a joke. I signed up with Motusbank because they have comparable interest rates and the customer service has been great. Trust me, go to Motusbank instead and save yourself the headache.