Personal Finance

The EQ Bank Savings Account thread [Online banking is working now]

  • Last Updated:
  • Nov 18th, 2017 7:42 am
Deal Addict
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Dec 17, 2008
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Winnipeg
bylo wrote:
Nov 3rd, 2017 2:22 pm
No doubt others won't be back either. EQB has taken a huge hit to their reputation. My suggestion/hint was intended for customers who are willing to give EQB a second chance.

After all EQB offered 3.25% when they first opened shop, That was to attract people who'd never heard of them. Now that we know who they are and have experienced their reliability first hand, 3% seems to be the least they could offer to keep us happy and make up for the recent disruptions.
I still have a 1/2 working account. I left EQ in 2016 and filed a complaint this year. They opened an account in October for me, but I can't send or receive interac e-transfers, I only have 1 linked accounts and can't add more, and I can't receive mobile alerts....
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Apr 9, 2006
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A 3% match would stop the exodus... in fact, 3% would make me consider transferring my 100k back since it's CDIC insured anyways.
I just like to collect things! ¯\_(ツ)_/¯
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[OP]
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Mar 23, 2004
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Markham
bylo wrote:
Nov 3rd, 2017 2:22 pm
After all EQB offered 3.25% when they first opened shop...
Actually it was 3% when they first open shop, not 3,25%.
「もし、奇跡を起こせたら……」
Deal Addict
Jan 21, 2014
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3% (or even 3.25%) won't get me back. I rather stay with SImplii (even 0.25% more not worth the hassle), for at least till Jan to see what Tangerine Lottery offer is and then March to see if Simplii counter Tangerine with another one. Tangerine probably have learned their mistake, cheaping out 0.25% and now see most of their clients leaving. If they were to give out 3% instead of 2.75%, then I wouldn't have bothered
Newbie
Apr 23, 2011
35 posts
12 upvotes
Toronto
So I ask SO to sign up for account and she does so using her phone. She doesn’t notice that my last name is populated on application form. (She still uses her maiden name legally). Her account is authenticated regardless using SIN #/Transunion. Transfer 6 figures over via linked account (PCF). Get an email asking for a document with her name on it for authentication. I send document with maiden name as that’s all she has. It gets rejected and account is suspended/frozen.

I explain situation to rep, but he insists he needs a document that matches name on account. I shake my head twice and roll my eyes, and ask him if he was listening to what I just explained to him. I ask him to transfer funds back to linked account. No can do sir. Account frozen. So now I’m asked to mail a notarized copy of passport so they can further investigate.

You would figure the system wouldn’t be able to auto authenticate with a name that doesn’t match SIN/Transunion, not allow you to transfer funds, but clearly not.

Anyways, not impressed at all.

/rant
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Jun 23, 2017
242 posts
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Toronto, ON
mkl38s wrote:
Nov 3rd, 2017 5:42 pm
3% (or even 3.25%) won't get me back. I rather stay with SImplii (even 0.25% more not worth the hassle), for at least till Jan to see what Tangerine Lottery offer is and then March to see if Simplii counter Tangerine with another one. Tangerine probably have learned their mistake, cheaping out 0.25% and now see most of their clients leaving. If they were to give out 3% instead of 2.75%, then I wouldn't have bothered
I used Tangerine chat function to empty my savings account and move it all over to Simplii HISA.
They did ask "Why are you moving so much money out?" I just responded "Simplii has a better rate until Feb.28/2018."
Without being prompted he responded "I can respect your decision as the best we can give you is the 2.75%", then quickly transferred my funds over and gave me a confirmation #.
Sr. Member
Sep 19, 2009
816 posts
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Toronto
New links still don't work. Has anyone heard any updates?
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andrew4321 wrote:
Nov 3rd, 2017 6:46 pm
New links still don't work. Has anyone heard any updates?
No updates from the status page since yesterday...so dont expect anything till next week at the earliest. They are probably trying to fix the base problems still before getting back to the functions.
「もし、奇跡を起こせたら……」
Sr. Member
Sep 19, 2009
816 posts
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Toronto
angel_wing0 wrote:
Nov 3rd, 2017 7:09 pm
No updates from the status page since yesterday...so dont expect anything till next week at the earliest. They are probably trying to fix the base problems still before getting back to the functions.
So... how long shall I wait before I submit the CDIC claim?
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Aug 9, 2013
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Toronto
905P4N6 wrote:
Nov 3rd, 2017 6:41 pm
I used Tangerine chat function to empty my savings account and move it all over to Simplii HISA.
They did ask "Why are you moving so much money out?" I just responded "Simplii has a better rate until Feb.28/2018."
Without being prompted he responded "I can respect your decision as the best we can give you is the 2.75%", then quickly transferred my funds over and gave me a confirmation #.
And they charge $50 for that right?
Newbie
Jun 24, 2015
91 posts
14 upvotes
Toronto, ON
andrew4321 wrote:
Nov 3rd, 2017 7:17 pm
So... how long shall I wait before I submit the CDIC claim?
Wait until EQ bank go bankrupt.
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Jan 30, 2012
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15june wrote:
Nov 3rd, 2017 8:08 pm
Wait until EQ bank go bankrupt.
you may have to wait a few more years after bk to get yr money back ...
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Jan 29, 2017
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mkl38s wrote:
Nov 3rd, 2017 5:42 pm
3% (or even 3.25%) won't get me back. I rather stay with SImplii (even 0.25% more not worth the hassle), for at least till Jan to see what Tangerine Lottery offer is and then March to see if Simplii counter Tangerine with another one. Tangerine probably have learned their mistake, cheaping out 0.25% and now see most of their clients leaving. If they were to give out 3% instead of 2.75%, then I wouldn't have bothered
It is going to be interesting to see the January promotion from TING as Simplii one will still be in effect for an extra two months. In order to provide immediate incentive to those who transferred out, they will definitely have to step up the game. Or maybe they will wait out to see Simplii next move past February.
[OP]
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Doesnt seem like the add new external bank account feature is fixed nor can their csr access the customer's accounts, there is probably something really wrong fundamentally in their DB which is the reason it took them so long just to fix the access initially, and even though we can login now, it's still quite slow in terms of website speed. Definitely need to avoid in the short-term.

And this outage actually ended up on Chinese newspaper as well, saw the article yesterday morning.
「もし、奇跡を起こせたら……」
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angel_wing0 wrote:
Nov 4th, 2017 2:10 pm
Doesnt seem like the EFT functions is fixed nor can their csr access the customer's accounts, there is probably something really wrong fundamentally in their DB which is the reason it took them so long just to fix the access initially, and even though we can login now, it's still quite slow in terms of website speed. Definitely need to avoid in the short-term.

And this outage actually ended up on Chinese newspaper as well, saw the article yesterday morning.
this will make thing worse for EQ ... as the chinese will now pull the remaining of their cash out ...
the run continues ...
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2x Telus prepaid plan
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