This Bank Has Ditched Fees On Everyday Banking & Even Pays Back Your ATM Charges In Canada

With inflation on the rise, prices going up and fees for practically everything, it can take a lot of work to stick to a budget, afford what you need, save for a big purchase or even begin to think about retirement money.

And when your bank is claiming chunks of your balance for the most basic of services, it feels doubly unfair. However, one Canadian bank wants to help you make money instead of always taking it from you.

Named Forbes' Best Bank in Canada for two years in a row, EQ Bank is offering Canadians some game-changing features — from never making you pay account or ATM fees in Canada to delivering high interest rates on your everyday bank balance.

Unlimited Canada-wide ATM reimbursement

How often have you needed cash, only to hit up an ATM and get slammed with fees — first by your bank and then by the machine itself?

It's hard to believe, but some ATMs (particularly third-party ones at convenience stores, bars and musical festivals) charge Canadians up to $9 just to get cash.

One of the biggest perks of having an EQ Bank Card is Canadian ATM reimbursements. And it's exactly what it sounds like: EQ Bank reimburses those pesky ATM fees in Canada and puts that money right back into your account, where it belongs.

Plus, EQ Bank cardholders earn monthly cash back on all purchases. Can your debit card do that?

No-strings-attached high interest rates

A chequing account with high interest is a rare, if not impossible, thing to find in Canada. For most people, earning high interest involves parking funds in a strict savings account or relying on limited-time promotional offers.

But when you're with EQ Bank, you earn a high interest rate on your everyday bank balance with no monthly fees, tricks or gimmicks. The more money you leave in your account, the more interest you earn — it's like getting paid to save money.

You can get started with a Savings Plus Account — which, name aside, works basically like a chequing account — and enjoy fee-free everyday banking and high interest rates up until the moment you spend.

Fee-free everyday banking

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It's hard to believe that Canadians are still being offered bank accounts that limit their number of cash withdrawals, transactions or Interac e-Transfers^®. On top of that, so many accounts tack on monthly charges.

EQ Bank's Savings Plus Account has no monthly fees, minimum-balance requirements or penalties for bounced cheques. They also offer an unlimited number of bill payments, transfers and transactions.

Plus, they explain things in terms everyone can understand, so you know what you're getting when you sign up.

If you're sick and tired of opening your banking app to find another bite taken out of your balance for fees, consider opening an account with EQ Bank.

By offering fee-free everyday banking, interest rates that make real money, and cash back on everyday purchases with the EQ Bank Card, they're helping Canadians enjoy more make and less take.

To learn more about EQ Bank, check out their website or follow them on Instagram, Facebook and Twitter.

This content is for general informational purposes only and does not constitute financial, investment, legal, tax or accounting advice.

ATM reimbursement is available in Canada only. The EQ Bank Card is not available in Quebec.

Cash back will be paid monthly. See the EQ Bank Card Agreement for details on earning cash back and other terms and conditions that apply to the EQ Bank Card.

Interac e-Transfer® is a trade-mark of Interac Corp. Used under licence.