EQ Bank is expanding its business banking suite with the launch of the EQ Bank Business Card, a prepaid and reloadable Mastercard designed for Canadian small business owners and entrepreneurs.
The new card is built to help business owners manage day-to-day spending while earning on the funds they already hold. EQ Bank says the card offers 2.25% interest on balances, 1% cashback on all purchases when monthly spend reaches $10,000 or more, and no monthly or annual fees.
The Business Card also includes low foreign exchange fees, instant funding, mobile wallet compatibility, and no credit checks or paperwork to sign up.
“EQ Bank’s goal has always been to help Canadians get ahead, with banking that is simpler, accessible and more rewarding,” said Daniel Rethazy, EVP, Personal Banking at EQ Bank. “This includes our country’s dedicated small business owners and entrepreneurs, who deserve a truly competitive banking option now more than ever.”
The launch comes as many entrepreneurs continue to balance cash flow, expenses, payments, and savings across multiple financial tools. EQ Bank says the card integrates with its high-interest, no-monthly-fee Business Account, giving customers a real-time view of balances and transactions.
“Canadian small businesses and entrepreneurs are managing so much in real time, from cash flow and payments to expenses and savings — and their banking needs to keep pace with the demands they’re navigating,” said Dan Broten, SVP and Head of EQ Bank.
The EQ Bank Business Card is available to EQ Bank Business Banking customers, but is not available in Quebec.
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