not this prepaid stuff again, wish they could give us a competitive credit card.someweirdo wrote: ↑ eq.png
The EQ Bank Personal Account thread - 2.50% (+1.50% direct deposit) - USD account is out: 3.00%
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- angel_wing0 [OP]
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- Mar 23, 2004
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- Markham
- LOL808
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just give me higher rate ...angel_wing0 wrote: ↑ not this prepaid stuff again, wish they could give us a competitive credit card.
- angel_wing0 [OP]
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- Shawguy
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- Winnipeg
Guess people's trust will be issuing another prepaid card as a partnership with EQ? Lol
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- 905P4N6
- Deal Addict
- Jun 23, 2017
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- Toronto, ON
agreed,angel_wing0 wrote: ↑ not this prepaid stuff again, wish they could give us a competitive credit card.
i don't need another pre-paid gift card in my wallet to potentially lose or misplace and never use .. to my detriment. yes, credit card with decent rewards / perks, please.
- bylo
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- Jan 7, 2002
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- Waterloo, ON
These types of cards, be they prepaid "credit" cards or gift cards, also lack the basic features of regular credit cards like the ability to do chargebacks, various insurance, etc.
In effect we loan money interest-free to the card issuer without any benefit that we'd get automatically even from a no-annual-fee regular credit card. The 0.5% cash back barely begins to compensate for that loss of benefits.
EQ must be desperate to consider such a weak offering. Even if one has a need for a prepaid credit card there are much better alternatives, e.g. STACK with free ATM cash withdrawals and 0% FX worldwide.
veni, vidi, Visa
- aweawea
- Deal Addict
- Sep 6, 2018
- 1876 posts
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- Halifax, Nova Scotia
I dunno guys, people who enjoy a debit card experience over a credit card might find their niche with this product IF it's essentially debit card access to an EQ Savings Plus account that uses a "prepaid" Visa/MC as the vehicle while the balance continues to earn interest. Not to mention the crowd that is already using Scotia debit to collect Scene/Scotia rewards, this offering would provide straight cashback on "debit" purchases.
I for one am interested simply to have the occasional ATM access to my EQ Savings.
I for one am interested simply to have the occasional ATM access to my EQ Savings.
Last edited by aweawea on Apr 23rd, 2020 12:13 pm, edited 1 time in total.
- 905P4N6
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- Toronto, ON
i'd be interested to see which ATM's close to my home or work that i'd be able to use FREE-OF-CHARGE/LEVY. i've just started scoping out the fee-free one's for use with my motive financial accounts and am pleasantly surprised to find convenient places i've simply over-looked in the past.
- bylo
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- Jan 7, 2002
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If that was the intended usage model then I'd have expected them to say so explicitly and tout it as a novel feature. With a conventional prepaid card loaded cash earns nothing and there's no cash back. So this combination of 2% on idle cash plus 0.5% when you spend it would be a significant competitive advantage.
That's no different from a conventional debit card.I for one am interested simply to have the occasional ATM access to my EQ Savings.
veni, vidi, Visa
- angel_wing0 [OP]
- Moderator
- Mar 23, 2004
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- Markham
aweawea wrote: ↑I dunno guys, people who enjoy a debit card experience over a credit card might find their niche with this product if it's essentially debit card access to an EQ Savings Plus account that uses a "prepaid" Visa/MC as the vehicle while the balance continues to earn interest. Not to mention the crowd that is already using Scotia debit to collect Scene/Scotia rewards, this offering would provide straight cashback on "debit" purchases.
I for one am interested simply to have the occasional ATM access to my EQ Savings.
the only place they can really hitch a ride on is the Exchange Network...so yeah, no thanks for me.
- 905P4N6
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- Toronto, ON
ok.. so the same as Motive Financial's no-fee ATM choices ... that works for me OK if I really need to get cash out.angel_wing0 wrote: ↑ the only place they can really hitch a ride on is the Exchange Network...so yeah, no thanks for me.
- flyjazz
- Deal Addict
- Mar 14, 2014
- 1354 posts
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The Motive Cha Ching chequing account has two free non-Exchange ATM withdrawals per month. For as many cash withdrawals most people do these days, I would say it would cover most instances where access to an Exchange ATM were not possible.
- 905P4N6
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- Jun 23, 2017
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- Toronto, ON
good point!.. i was not aware of that. makes it even more convenient
- hvwkzq
- Deal Fanatic
- Aug 3, 2014
- 6089 posts
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This bank is still a joke. It took me multiple tries to log in without seeing an error page, and now I see an error page every time I try to link an external bank account.
- xblackrainbow
- Deal Addict
- Jul 7, 2013
- 1514 posts
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- Digital Gulag
Anyone else having trouble with EQ bank right now? May 5th 2020.
- xiaobao
- Deal Addict
- Dec 16, 2012
- 3747 posts
- 909 upvotes
yes, I been getting it this over the last few days, I guess their site can't handle the traffic anymore.xblackrainbow wrote: ↑ Anyone else having trouble with EQ bank right now? May 5th 2020.
- pny128
- Sr. Member
- Apr 14, 2017
- 749 posts
- 717 upvotes
They had a processing error on my account today, and customer service said more accounts were affected, so I imagine more people than usual are trying to access them now.xblackrainbow wrote: ↑ Anyone else having trouble with EQ bank right now? May 5th 2020.
- LOL808
- Deal Guru
- Jan 30, 2012
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- multi city dweller
- angel_wing0 [OP]
- Moderator
- Mar 23, 2004
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- Markham
yip, looks widespread:
Everyone's excited about saving.
We're experiencing higher than normal traffic to our website from savers
just like you. Please try again, or visit www.eqbankstatus.ca for updates.
- LOL808
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- Jan 30, 2012
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Is the error specific to login, or actual error in processing transactions?angel_wing0 wrote: ↑ yip, looks widespread:
I am more worry if someone else's find get processed and deposited into my account ... login error i can always wait it out since I have diversified a bit ...
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