EQ Bank has been named the top Schedule I bank in Canada for the second year in a row on the Forbes list of World’s Best Banks 2022.
Powered by Equitable Bank, EQ Bank launched in 2016 and from the start has challenged the notion of what everyday banking should be. Its first product, the EQ Bank Savings Plus Account combined features found in chequing accounts with savings accounts.
Add in no everyday banking fees, unlimited transactions, unlimited free bill payments and Interac e-Transfers®, seamless free transfers between Canadian banks, international money transfers powered by Wise, and GICs that can be purchased at the touch of a button, and you can see some of the reasons more people are choosing
“Being recognized by our own customers in this way is really gratifying and a proof point that we are on the right track in building a modern digital bank,” said Andrew Moor, President and CEO of Equitable Bank.
“We put enormous emphasis on no-nonsense banking that delivers exceptional value – like all-in-one combined chequing and savings accounts, and fast international money transfers. This recognition is validation that we’re following through on those commitments.”
The World’s Best Banks were selected based on over 45,000 consumer surveys representing 27 different countries.
Participants in the global surveys were asked to rate every bank at which they have a chequing or savings account on overall recommendation and satisfaction, as well as rate the banks in five different criteria: Trust, Terms & Conditions, Customer Services, Digital Services, and Financial Advice.
EQ Bank now has more than $7 billion in deposits and over 250,000 customers, and later this year it plans to launch its own card, making point of sale payments and access to funds even more convenient.