EQ Bank is a Canadian digital bank (under Equitable Bank) known for high-interest savings and no monthly fees.
Requires Canadian residency and SIN; foreigners without Canadian status cannot apply.
These are stable, standing account benefits (not time-limited) — available as long as you qualify:
No. EQ Bank is only open to Canadian residents and requires SIN; foreigners without Canadian status cannot apply.
No minimum deposit — the account can be opened at zero.
Have your Canadian photo ID, SIN, Canadian address and Canadian mobile number ready, then verify.
A few minutes in the app; review usually takes a few working days.
Common reasons: not a Canadian resident, invalid SIN, unverifiable address, or failed KYC.
Standing benefits: No Monthly Fee, No Min Deposit, Fully Online, Digital Bank, Fast Approval. Promotions change by region and quarter — always check the bank's official promo page (verified 2026-10).
Having documents ready lowers the chance of rejection; policies change, so confirm with the bank before applying.