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Email this5:52 pm
September 30, 2017
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Deposit new funds into a TFSA, FHSA, or RRSP Savings Account by March 2, 2026. Maintain (or grow) your balance for at least six months after the offer ends.
The more you deposit, the more you can earn:
a. $4,000 - $6,999 → $100 bonus
b. $7,000 - $9,999 → $150 bonus
c. $10,000 + → $200 bonus
EQ Bank Registered Season Bonus Promotion Terms & Conditions
...
4. Payment of Bonus PaymentThe Bonus Payment will be credited to the first EQ Bank Personal Account you opened that remains in good standing (provided that it will only be credited to a Joint Account if you do not have any individual Personal Accounts open and in good standing at the time of the Bonus Payment). The Bonus Payment will be credited within 10 business days of the end of the Hold Period. Both your Registered Cash Savings Account(s) and Personal Account must be in good standing at the time the Bonus Payment is credited.
5. Taxes
You acknowledge that you are responsible for any obligations relating to tax reporting that arise from Bonus Payments made to you under this Promotion.
...
7:12 pm
September 28, 2023
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Not being eligible for the direct deposit top up, the rate is pretty lame: 1.5% on all their registered accounts.
I may still take advantage with next years TFSA allotment because the bonus is basically a 2.1% interest rate top up, and then can transfer out before end of year to get the room back.
I recommend not doing this with RRSP & FHSA, because you will have to pay high transfer fees in the future to move the money, or withdraw and lose the room forever (and pay tax).
5:36 am
September 30, 2017
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This year's offer is quite different from last year's "2% Match" offer.
If one put money there, Nov 30 is the third quarter bonus calculation date. Can one pull the *TFSA* money out before Dec 31st and re-position the funds to be eligible for this year's offer?
3:16 am
September 30, 2017
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EQ has been marketing this *EQ Bank Registered Season Bonus Promotion* & it's also on the Promos page.
($4,000 * 5% p.a.) / 2 = $100 for ~6 months
Yet it seems the rate of return decreases when you deposit more. Therefore I will only wager $4,000 TFSA new deposit by March 2nd over my Nov 27 balance.
... hoping for a rival offering from another FI
7:24 am
March 15, 2019
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hwyc said
EQ has been marketing this *EQ Bank Registered Season Bonus Promotion* & it's also on the Promos page.($4,000 * 5% p.a.) / 2 = $100 for ~6 months
Yet it seems the rate of return decreases when you deposit more. Therefore I will only wager $4,000 TFSA new deposit by March 2nd over my Nov 27 balance.
... hoping for a rival offering from another FI
Be careful with any institution that offers an above market interest rate on your money. Could mean they are in trouble.
8:47 am
January 3, 2024
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everhopeful said
I recommend not doing this with RRSP & FHSA, because you will have to pay high transfer fees in the future to move the money, or withdraw and lose the room forever (and pay tax).
I don't believe EQ Bank charges a transfer out fee for RRSP accounts.
https://www.eqbank.ca/personal.....d-features
Balance transfers to another financial institution - Free
4:05 pm
November 9, 2025
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Notice the funds must come from an external source. Funds already in EQ then transferred to registered account do not apply.
"New Deposits must be new funds transferred from outside of EQ Bank into a Registered Cash Savings Account during the Promotional Period. Internal transfers of existing funds between EQ Bank accounts do not qualify as New Deposits; however, internal transfers of funds from an external source that are first deposited into a Personal Account (for clarity, references to Personal Accounts in these Terms include Joint Accounts, unless specified otherwise) during the Promotional Period and subsequently moved into a Registered Cash Savings Account during the Promotional Period may qualify, provided that for Joint Accounts, transfers of New Deposits from the Joint Account will only qualify for the Bonus Payment if transferred to the primary Joint Account holder’s Registered Cash Savings Account."
1:44 pm
September 30, 2017
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What now? ... Maintain (or grow) balance until September 2, 2026.
11:27 pm
October 15, 2015
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So i had this 200.00 promo. I believe the 200.00 is deposited sept 4th and then the funds can be pulled out of the tfsa at that point. Is that correct? Does the 200.00 go in the regular savings account or the tfs savings account?
1:13 am
November 9, 2025
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Sep 6. Still waiting.Anybody get their bonus?
11:42 pm
February 16, 2026
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September 6, no bonus yet either for me. The bank still has time though; the terms & conditions say within 10 business days after the end of the hold period (end of hold period: September 2, 2026). Also, not sure where September 4, 2026 came from.
Tera Káktos | @TeraKaktos@furry.engineer
11:52 pm
February 16, 2026
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christinad said
Does the 200.00 go in the regular savings account or the tfs savings account?
Edit: I made a mistake here, please read my next post instead
This was never made clear. I can see it going any one of three ways--depositing into the registered account, depositing into the Personal Account and including on the T5 tax slip, or potentially depositing into the Personal Account and not bothering to include this on the T5 (so you would report this income manually for income tax purposes.)
Tera Káktos | @TeraKaktos@furry.engineer
11:57 pm
February 16, 2026
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TeraKaktos said
This was never made clear. I can see it going any one of three ways--depositing into the registered account, depositing into the Personal Account and including on the T5 tax slip, or potentially depositing into the Personal Account and not bothering to include this on the T5 (so you would report this income manually for income tax purposes.)
Correction: My apologies, the terms & conditions actually said it will be deposited into the Personal Account. However, whether it would be scenario #2 or scenario #3 was never made clear and that was the issue I was recalling about here.
Tera Káktos | @TeraKaktos@furry.engineer
4:04 am
January 3, 2024
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I've never received a T5 for sign up bonuses and the like received from other banks before. Whether it is considered 'income' would be a question for the CRA I guess.
7:33 am
January 13, 2022
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Account Sign-Up / Cash Bonuses: A flat promotional cash bonus for opening an account (e.g., "get $300 when you set up direct deposit") is generally treated as a non-taxable promotional windfall or rebate rather than investment income. Banks typically do not issue a T5 slip for flat sign-up cash bonuses.
