Personal Finance

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

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Deal Addict
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Dec 17, 2008
2781 posts
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Winnipeg
VH99 wrote: it says no issue right now ... so is it back up now? :)
Hey I didn't say they were good with live updates, i just said they do notify customers of planned upcoming outages.
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Deal Addict
Jan 18, 2008
1663 posts
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Ottawa
My knowledge of EQBank may be dated, so before I do anything stupid :) let me check...

If i go to EQ site today (Fri) and initiate a pull from my TDCT chequing account, when does the money have to be in TD account? It's in TD epremium (?, 0.9%) right now and I have to move it back to EQ-linked chequing account. If I can wait until Mon or even Tue, I'm happy to get the 0.9% over the weekend.

When I set up EQ I think they only allowed pull into EQ but now you can push into EQ? Is there any beneft to doing that?

Thanks!
=aw
Member
Jan 17, 2018
294 posts
215 upvotes
aw1883 wrote: My knowledge of EQBank may be dated, so before I do anything stupid :) let me check...

If i go to EQ site today (Fri) and initiate a pull from my TDCT chequing account, when does the money have to be in TD account? It's in TD epremium (?, 0.9%) right now and I have to move it back to EQ-linked chequing account. If I can wait until Mon or even Tue, I'm happy to get the 0.9% over the weekend.

When I set up EQ I think they only allowed pull into EQ but now you can push into EQ? Is there any beneft to doing that?

Thanks!
=aw
I use both those banks and moved my money from TD to EQBank...average time was about 5 business days before the money left my TD account, but EQbank would give me interest from the date I started the move asfaik.
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Jan 18, 2008
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Ottawa
Thanks, that's why I'm hoping to do it today. If I can earn EQ rates starting today, I'll initiate now. I can move it TD(ePremium)-TD(AllInclusive) on Monday though later would be better. Don't want to get a refused transfer though!

Does anyone have different experience with pulling in from TD, initiated at EQ?

=aw
Member
Jan 17, 2018
294 posts
215 upvotes
aw1883 wrote: Thanks, that's why I'm hoping to do it today. If I can earn EQ rates starting today, I'll initiate now. I can move it TD(ePremium)-TD(AllInclusive) on Monday though later would be better. Don't want to get a refused transfer though!

Does anyone have different experience with pulling in from TD, initiated at EQ?

=aw
I just moved my monthly amount, and it won't move until Monday, so I won't get the interest over the weekend. I guess it has to be moved before noon EST on Friday to count for the weekend. That makes me guess it will be Friday or so before it is sucked out of my TD account.

If you really want the interest and it is a smaller amount, my suggestion is:

Move from epremium to your all inclusive account then e-transfer 3000 today, 3000 tomorrow.

Since I only sent $5000 there this month, I don't care about 3 days of interest on that money, so I can wait until Monday for them to start the pull. I don't like having to do etransfers if I have to do it more than once...but that is instant.
Deal Addict
Jan 18, 2008
1663 posts
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Ottawa
Those are Interac transfers right? I'm doing the linked account thing (the one that has a $100K max). I'm willing to do the pull into EQ today and move the money from ePremium to All-Inclusive today, if it's still possible to get the 2.3% starting today. But I'd be happier to also get the 0.9% on top of it for the weekend. :)

In the past (it might have been between Tangerine and EQ) a pull into EQ on Friday would come out of Tangerine chequing on Tuesday, so it was possible to leave it in Tangerine Savings over the weekend. Doing a pull Friday and having it not leave TD until the following Friday sounds crazy! Though I believe you, of course, but I wonder if I'm misunderstanding.

Thanks!
=aw
Member
Jan 17, 2018
294 posts
215 upvotes
So even though it said the transfer would hit Monday, it EQ added it to my account today. I still think it will be Friday before it gets pulled from my TD account though. The important thing is EQ will be adding interest to that 5k from the 2nd not the 4th or whatever....
Sr. Member
Apr 16, 2008
628 posts
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Etobicoke
Do the GICs have a separate "max" limit to deposits or are you still limited to 100k between both a savings account and GICs?
Member
Jul 31, 2007
304 posts
11 upvotes
Scarborough
Hi

I'm thinking of opening EQ saving account. What is the best and fast option to transfer funds. Pull from EQ account or transfer from external account.

If the first page it talks about ""When linking EQ through an external bank, use institution # (623) and transit # (80002)""
DO not full understand how to do this. Do you go into the bank and provide the account information to transfer fund or transfer money as of your adding a payee.

let me know. thanks
Deal Guru
Aug 5, 2006
10731 posts
7891 upvotes
Global Village
blazinpista wrote: Hi

I'm thinking of opening EQ saving account. What is the best and fast option to transfer funds. Pull from EQ account or transfer from external account.

If the first page it talks about ""When linking EQ through an external bank, use institution # (623) and transit # (80002)""
DO not full understand how to do this. Do you go into the bank and provide the account information to transfer fund or transfer money as of your adding a payee.

let me know. thanks
Once you open the EQ account you can use the EQ account website to do everything. If you want to link an external account you go to the EQ account page where your linked accounts are and you type the external bank account info there, EQ will then deposit 2 small amounts to your external account in a couple of days, you confirm what those amounts are and you're linked. The fastest way to send amounts under $3,000 from EQ to another bank is with a free Interac e-transfer which takes a few hours only. If it's over $3K then you do a regular transfer with takes a couple of business days. Hope this helps.
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Deal Addict
Mar 8, 2013
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deveritt wrote: Do the GICs have a separate "max" limit to deposits or are you still limited to 100k between both a savings account and GICs?
Savings and GICs ( C$ and no longer than 5 years) are lumped together for the purpose of the 100K limit. Note that is this for each separate "insured category". So you could have $90,000 in an account in your name, $80,000 in a joint account, $60,000 in a TFSA, all in a mixture of savings and GICs, and they would all be covered.
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Jun 23, 2016
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Jul 22, 2008
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Anyone having trouble with the website today? I'm trying to open a new account, just got the microdeposits in my external account and whenever I log in I get "Something went wrong".
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Apr 2, 2010
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GTA
Rishi wrote: Anyone having trouble with the website today? I'm trying to open a new account, just got the microdeposits in my external account and whenever I log in I get "Something went wrong".
Works for me when I test now.
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Sep 7, 2004
1599 posts
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Toronto
I just got an email from EQ bank about a 2.35% 3 month GIC but it was addressed to someone who isn't me although I am an EQ customer.

Did anyone else get an email like that today?
Deal Expert
Jan 7, 2002
29583 posts
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Waterloo, ON
gqbluez wrote: I just got an email from EQ bank about a 2.35% 3 month GIC but it was addressed to someone who isn't me although I am an EQ customer.

Did anyone else get an email like that today?
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?
veni, vidi, Visa
Deal Guru
Jan 30, 2012
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multi city dweller
gqbluez wrote: I just got an email from EQ bank about a 2.35% 3 month GIC but it was addressed to someone who isn't me although I am an EQ customer.

Did anyone else get an email like that today?
probably not from eq bank ... make sure you don't click on any links in the email ...

and also probably want to contact eq bank right away ... and let them know what has happened ...

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