EQ Bank Direct Deposit Promo Lowered from 3.50% to 3.30% as of 2025-08-28 | EQ Bank | Discussion forum

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EQ Bank Direct Deposit Promo Lowered from 3.50% to 3.30% as of 2025-08-28
August 27, 2025
9:35 am
Andrew.Chow
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Received e-mail notification that they are lowering their promo rate to 3.20% effective August 28, 2025.

August 27, 2025
12:37 pm
Dean
Valhalla Mountains, British Columbia
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.
There's a old 'Tried & True' term for that ⬆️ . . .

      . . . It's called; "Bait & Switch".

As The Stomach Turns sf-confused,

    Dean

P.S.
Welcome to The Club, Andrew.Chow❗

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

August 27, 2025
5:02 pm
AltaRed
BC Interior
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3.5% was out-sized to begin with by about 50 bp. No one should have assumed that would be sustainable over any length of time vis-a-vis their competition. It is still higher than their 10 day and 30 day Notice period accounts and still higher than Oaken at 2.8% and PC Financial at 3.1%.

August 27, 2025
7:25 pm
NorthernRaven
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AltaRed said
3.5% was out-sized to begin with by about 50 bp. No one should have assumed that would be sustainable over any length of time vis-a-vis their competition. It is still higher than their 10 day and 30 day Notice period accounts and still higher than Oaken at 2.8% and PC Financial at 3.1%.  

They actually went up a quarter point on one of the BoC's 0.25% drops awhile back, to 4%. They adjusted to 3.50% awhile ago, which took it to where it would have been expected based purely on BoC changes, and now have shaved a bit off that. There's a certain margin that is probably worth it as client acquisition, since it only applies to non-reg with the $2000 direct deposit.

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