EQ Bank

EQ Bank is the online-first Canadian bank that people usually choose for savings and everyday no-branch banking. By our assessment, it is good at keeping the experience minimal: accounts, transfers, and basic money management are front and center, without the clutter of a branch network. The limit is the same as the strength, because a digital-first bank is not trying to be a full physical institution with staff across town. In practice, EQ Bank feels spare and direct, with the app or website doing most of the work and very little ceremony around it. Against the big Canadian banks, it looks leaner and more focused; against app-only money tools, it is still a bank with ordinary deposit-and-transfer duties. EQ Bank is for people who want a simple online place for money and do not need a branch experience at all.