r/EQBank

Hey, just wondering if anyone has had their account closed by EQ bank and I have not received a cheque with the amount left. I’ve been waiting for 2 months. Obviously they won’t tell me why they closed my account but they also have not sent my money. Yes I had the correct address on my profile and even went over it via phone. All they keep saying is they’re in the process of closing my account! BUT ITS BEEN TWO MONTHS.
Has anyone gone through this ? And how long till you got your cheque ?
Thanks in advance

So apparently they do this to all their customers. They just freeze your access to your money without informing you ahead of time.

Then they ask for proof of ID, income and address On a bill and the wait is 1-3 days. But usually on the 3rd day you have to give them a call to know what exactly is happening, only to realise they've rejected your documents.

So this is the 3rd time that I redo the process... I went on Reddit and learned that people have lost access for over a month and went into financial trouble...

My question is... What's legal in all this?

They cannot just stop someone's access to their money... I have been with them for over two years before they decide to do this.

They refuse to close my account and send me the check because the account has to be unlocked..

They refuse to give a solution all they do is apologize and ask me to wait 3 days....

TBH it seems like phishing and collecting new identity info.....

Can someone inform me of my options please?

The check holds are too long. The check was already cleared at the senders bank last Thursday and they still hold a portion of the check til now. I could have easily deposited into any major bank and whole thing would be released in 2 days. I dont know why anyone uses EQ bank. Ive been with them for many years but might close my account.

I opened an account, which took a while because I have credit freezes with both Equifax and Transunion - I had to call them back for them to actually do something. But whatever, it's fine.

Then I sent myself a $750 interac transfer. I thought I'd be able to link the account to Wise, to load up a card in EUR for an upcoming travel. The linking through Plaid didn't work, and the other option didn't list EQ bank.

So I had to do the wise thing through other means with my regular Brick and Mortar bank.

I thought I'm gonna send back out $650, leaving some cash in. So I sent myself an Interac transfer. Didn't work. I thought maybe sending them to your own email causes a problem, so I added my wife through her Mobile Phone, since we have a joint checking with our main bank. Didn't work. Neither on mobile app or desktop.

Then I thought. Hey, it's a brand new account. I'll try again tomorrow.

This morning, same problems. Chat was completely useless and made me jump through a bunch of so called "resets". And no, I'm not clearing cache on my browser - since the problem exists on two different browser and the mobile app.

Called instead. Equally unhelpful. Girl asked me to register for Autodeposit. LMAO. You think I'll have all interac transfers auto-deposit to an account from which I can't take money out? Hells no and also what does this have to do with anything.

What an absolute disaster. Stay away from this mess.

EQ Bank announced May 5 it has received final approval to acquire PC Financial. Deal to close this summer. No immediate changes announced but PC MasterCard expected to get EQ branding.

Haven’t been able to open a biz account due to some error after filling out the email. The person on the phone told me to use incognito chrome but that didn’t work either. It’s been like two days, how come it’s a thing?

Anyone else? Android for me

Hi there I just applied for an account and it said they would contact me in two days. I'm wondering what is current wait times to get the MasterCard as I'm leaving country soon and I'm in Northern Ontario.

As the title says. Been waiting for the card launch and hoping to know when it will happen so I can fully close out accounts with my previous business bank.

I have been using eq now for about 8 months. If been fine with the occasional app hiccup that just needed a 2nd try to work. no 3rd, 4th and beyond.

The primary reason for not fully moving over is cash transactions. I get cash now and then, would like to deposit it. The card is not a interact debit card from my understanding.

Overdraft, while I rarely use mine now, its more of a miscalculation for available funds for that month and the overdraft covers it.

With pcfinancial being acquired by eq, who knows what this brings, maybe we will see other offerings like a LOC, loans down the road.