Personal Finance

The EQ Bank Personal Account thread - 2.50% (+1.50% direct deposit) - USD account is out: 3.00%

  • Last Updated:
  • Mar 27th, 2024 4:11 pm
Deal Guru
Jan 30, 2012
10043 posts
3758 upvotes
multi city dweller
bylo wrote: Yup. My email's salutation reads, "Hi Anjo,..."

Note to EQ, my name is Bylo, not Anjo ;)

Also I find the offer rather feeble, perhaps even insulting.

They're offering 2.35% on a 3 month GIC. That's a whopping 5bp more than on their fully liquid savings account. But even worse, the Bank of Canada is widely expected to raise their rate tomorrow. So why would anyone lock in at 2.35% for 3 months (vs. 2.3% to stay in a HISA) when chances are that rates may go up in the next week or two?
just curious if the email address is correct?
Deal Addict
Sep 7, 2004
1599 posts
631 upvotes
Toronto
VH99 wrote: just curious if the email address is correct?
It's a legitimate email and the reply to address is correct as well. It was sent from their marketing email address reply @ email.Eqbank. ca

I think their system may have just mixed up the names. I didn't click on anything. The campaign is legit as well if you go to the eq bank website the first banner is advertising the 2.35% short term GIC.

Wondering if the system just mixed up the names.
Deal Expert
Jan 7, 2002
29708 posts
29127 upvotes
Waterloo, ON
VH99 wrote: probably not from eq bank ... make sure you don't click on any links in the email ...
Yes the email is perfectly legit. In addition to being encrypted and passing through Google's spam/scam filtering, all the links have URLs starting with http://click.email.eqbank.ca/?qs=63ed47a...

just curious if the email address is correct?
How else would it have gotten to me? ;)
veni, vidi, Visa
Deal Guru
Jan 30, 2012
10043 posts
3758 upvotes
multi city dweller
bylo wrote: Yes the email is perfectly legit. In addition to being encrypted and passing through Google's spam/scam filtering, all the links have URLs starting with http://click.email.eqbank.ca/?qs=63ed47a...


How else would it have gotten to me? ;)

i have received "many" emails that were not addressed to me ... the email addresses were not mine and yet i received them ... better believe it ...

the last one i received was from a real estate lawyer to his client (both husband and wife names were on the documents ...) and the email address was 100% NOT mine ...

what was worse was that the real estate deal was done in queensland australia ...
Deal Expert
Jan 7, 2002
29708 posts
29127 upvotes
Waterloo, ON
VH99 wrote: i have received "many" emails that were not addressed to me ... the email addresses were not mine and yet i received them ... better believe it ...
Well then you'll be relieved to learn that yes, indeed, the email was addressed to me ;)
veni, vidi, Visa
Deal Expert
Jan 7, 2002
29708 posts
29127 upvotes
Waterloo, ON
This just in from EQB:
Hi,

At approximately 2pm ET today, we had a “whoops” moment with your first name. The email was intended for you but the first name in the salutation was incorrect.

We’ve fixed the mix-up on our end. Rest assured your security is our number one priority and your information is safe. We apologize for any confusion this may have caused.

If you have any questions, feel free to call us anytime at 1-844-437-2265. We’re available 24 hours a day, 7 days a week.

Sincerely,

EQ Bank
Note the salutation in this email is just a generic "Hi,". I suppose that's one way to fix the bug ;)
veni, vidi, Visa
Jr. Member
Mar 11, 2009
134 posts
89 upvotes
Got an email today from EQ about them increasing the maximum balance to $200,000 per customer for their savings plus account.
Newbie
Aug 28, 2016
93 posts
18 upvotes
kiwi1962 wrote: Got an email today from EQ about them increasing the maximum balance to $200,000 per customer for their savings plus account.
Do people usually leave only $100k per account? For CDIC insurance.

Once you cap the $100k mark what bank do you guys recommend? I was looking into the one based in Manitoba since it covers 100% of the deposit (unlimited $$$).
Deal Expert
User avatar
May 8, 2009
15560 posts
14184 upvotes
Going to the Moon
BostonM wrote: Dumb question but is EQ safe??
Safe as any online only FI can be. Password requirements are high. No ATM access. Only vulnerability is PAD agreement, but EQ monitors activity fairly closely, so I doubt they'll let your account get looted without stepping in.
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]
Deal Fanatic
Oct 7, 2007
9404 posts
5374 upvotes
BostonM wrote: Dumb question but is EQ safe??
They are safe up to $100k. Beyond that, I would park my money elsewhere. They are in the same business as Oaken Financial which means they should be fine but if this housing market crashes (and it might), we may see some messes out there. Better to be safe.
Newbie
Jan 16, 2018
73 posts
45 upvotes
For those who registered any of their accounts when EQ lowered their maximum balance to $100K, it would appear EQ has doubled that.
Images
  • EQ-200k-max.PNG
Deal Fanatic
Jun 29, 2007
6041 posts
2748 upvotes
Vancouver
archonz wrote: For those who registered any of their accounts when EQ lowered their maximum balance to $100K, it would appear EQ has doubled that.
IMO, the risk outweighs the reward.
Newbie
Jan 16, 2018
73 posts
45 upvotes
Speedy1 wrote: IMO, the risk outweighs the reward.
If we are talking about the same various associated risks (available service and funds access/limits, inflation, policy terms from EQ, CDIC and so on) then would agree. Like with stock market decisions, that is why one should try to diversify where one parks some of their play or operational money and make allowances to take advantages of (more) profitable opportunities whenever possible for their situation (imho).
Deal Fanatic
Jun 29, 2007
6041 posts
2748 upvotes
Vancouver
archonz wrote: If we are talking about the same various associated risks (available service and funds access/limits, inflation, policy terms from EQ, CDIC and so on) then would agree. Like with stock market decisions, that is why one should try to diversify where one parks some of their play or operational money and make allowances to take advantages of (more) profitable opportunities whenever possible for their situation (imho).
The risk for me is it not being CDIC insured. Putting money in the bank is my safest, most conservative investment thus I want 0% risk of losing the money. For me, it is not worth the 0.5 or 0.75% higher interest even if there is 0.1% or whatever the risk is of losing my money. I have other investments that already have some risk.
Deal Expert
User avatar
May 8, 2009
15560 posts
14184 upvotes
Going to the Moon
Justlikeyou wrote: How many days before it hit my bank if I EFT funds from EQ.

Thanks
You wanna push money from EQ to external? 2-3 business days.
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)