I Fired My Big Bank — And I’m Not Looking Back
I used to be a big-bank customer for years, with TD as one of my primary banks. I had pretty much everything with them—chequing, credit cards, investments, and day-to-day banking.
A few years ago, I decided to move away from the traditional big-bank model and switched my everyday banking to EQ Bank. Honestly, it has been one of the best banking decisions I’ve made.
Yes, EQ Bank doesn’t have physical branches. But personally, I rarely—if ever—need to visit a branch. If I need cash, I can use an ATM, including when travelling internationally, without worrying about ATM fees from EQ.
There’s also no minimum balance requirement and no monthly account fee. Instead, you actually earn interest on your money. The rate is currently around 2.75%, and I’ve seen it as high as 4% in the past.
For anyone who does most of their banking online and doesn’t need branch access, I genuinely recommend giving EQ Bank a serious look.
Sometimes the best way to beat the big banks is simply to stop paying them for things you don’t need.
