EQ Bank launches Business Account beta, a new banking solution to better serve small business owners
- EQ Bank Business Account transforms Canadian business banking with high interest, no fees, unlimited transactions* and access to Business GICs, supported by an entirely digital onboarding experience
- Beta phase of launch provides account access to existing EQ Bank customers
"Small businesses are the backbone of the Canadian economy, and they deserve better banking options.
Available today, the EQ Bank Business Account provides business owners with a new, innovative solution that addresses their specific needs by offering:
- Free unlimited transactions*
- Competitive 2.50% interest rate on the entire balance∞
- No fees – monthly, hidden or otherwise
- No minimum balance requirements
- Option to purchase EQ Bank Business GICs
- Fully digital online sign-up and onboarding
- Easy, streamlined access to both personal and business accounts for EQ Bank customers
- Convenient platform to manage customer payments, bill payments and deposits
- Dedicated business customer service agents based in
Canada , available8:00a.m. to 12:00a.m. ET
Small business owners face many hurdles in their banking experience and can find their needs unmet. Despite representing a core pillar of the Canadian economy, they are often faced with onerous, in-person onboarding processes and earn little-to-no interest rates on deposits paired with high fees and minimum balance requirements. The new Business Account helps transform the world of business banking with a stress-free way to save and transact, setting a new standard in business banking efficiency and convenience.
The beta phase roll-out comes after close collaboration with early pilot program customers. It is currently available on desktop and mobile for iOS, with Android expected to follow in the coming weeks. The account offering will further evolve for small business customers as critical developments like open banking and real-time rail infrastructure become a reality in
To open an EQ Bank Business Account today, or to join the waitlist to learn when this account will be available to all Canadian business owners, visit eqbank.ca/business-bank-account.
About
To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.
* Transactions are subject to certain dollar limit maximums.
∞ Interest is calculated daily on the total closing balance and paid monthly.
Media Contact:
Director,
maggie.hall@eqbank.ca
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