TORONTO, April 19,
2022 /PRNewswire/ - EQ Bank, powered by
Equitable Bank, Canada's Challenger Bank™, has been named
the top Schedule I bank in Canada
for the second year in a row on the Forbes list of World's Best
Banks 2022. The World's Best Banks were selected based on over
45,000 consumer surveys representing 27 different countries.
"Being recognized by our own customers in this way is really
gratifying and a proof point that we are on the right track in
building a modern digital bank," said Andrew Moor, President and CEO of Equitable
Bank. "We put enormous emphasis on no-nonsense banking that
delivers exceptional value – like all-in-one combined chequing and
savings accounts, and fast international money transfers. This
recognition is validation that we're following through on those
commitments."Participants in the global surveys were asked to rate
every bank at which they have a chequing or savings account on
overall recommendation and satisfaction, as well as rate the banks
in five different criteria: Trust, Terms & Conditions, Customer
Services, Digital Services, and Financial Advice. All credit
institutions offering chequing and/or savings accounts were
eligible to be considered for this recognition.EQ Bank launched in
2016 and from the start has challenged the notion of what everyday
banking should be. Its first product, the EQ Bank Savings Plus
Account combined features found in chequing accounts with savings
accounts. Add in no everyday banking fees, unlimited transactions,
unlimited free bill payments and Interac e-Transfers®,
seamless free transfers between Canadian banks, international money
transfers powered by Wise, and GICs that can be purchased at the
touch of a button, and you can see some of the reasons more people
are choosing EQ Bank. EQ Bank now has more than $7 billion in deposits and over 250,000
customers, and later this year it plans to launch its own card,
making point of sale payments and access to funds even more
convenient. The World's Best Banks 2022 was announced on
April 13, 2022, and is presented by
Forbes and Statista Inc., the world-leading statistics portal and
industry ranking provider. The final list recognizes the top 500
companies around the world and can be viewed on the Forbes
website.
About EQ Bank
EQ Bank, the digital banking platform launched in 2016 by
Equitable Bank (a federally regulated Schedule I bank), provides
state-of-the-art digital banking services. The Savings Plus Account
reimagines banking by offering an everyday high interest rate, plus
the flexibility of a chequing account, with free transactions, no
everyday banking fees, no minimum balances, fast, cheap, and fully
transparent international money transfers, and more—all from one
account. Its Guaranteed Investment Certificates (GICs) also offer
Canadians a wide range of options with competitive rates. To learn
more, please visit www.eqbank.ca.
About Equitable Bank
Equitable Group Inc. trades on the Toronto Stock Exchange (TSX:
EQB, EQB.PR.C and EQB.R) and serves more than 325,000 Canadians
through its wholly-owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank has
a clear mandate to drive change in Canadian banking to enrich
people's lives. Founded over 50 years ago, Equitable Bank provides
diversified personal and commercial banking services. Please visit
equitablebank.ca for details.
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SOURCE Equitable Bank