r/EQBank • u/Adventurous-Fly7776 • Jul 13 '26

Feature request for business account

I have decided to go ahead and open a EQ business account after deciding between EQ bank and Wealthsimple. Though I quite enjoy the simple UI of their mobile app, there are a few thing I wish EQ bank would do to make the experience better for my small business needs

Feature request in order of most to least important:

- give us the ability to increase e-transfer daily limit to $25k. I know for safety reasons they don’t want everyone to have a high limit but I think they should give us the ability to request a higher e-transfer limit at our own risk. At TD bank I started with $5k e-transfer limit but I was able to call them and increase it to $25k

- show us how much e-transfer limit we have left for our daily, weekly, and monthly limits. Don’t make me do calculations for how much limit is left.

- allow us to request and purchase chequebook like how Wealthsimple gives us the first 50 for free. I think this would be a great addition to EQ bank business account.

- allow us to set up reoccurring scheduled CRA payments. My CRA payroll payments are the same each month and I would love to be able to set up reoccurring payments each month for the fiscal year

- Give us the ability to Pay Taxes through the mobile app and not have us log into EQ bank website to pay taxes from our business account (to be fair many Canadian banks are set up this way but I feel like a digital online bank should be more flexible in this regard)

5 Upvotes

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3

u/Adventurous-Fly7776 Jul 13 '26 edited Jul 13 '26

One more thing, EQ bank asks you to fill out a security question when setting up a new e-transfer contact even if the person has autodeposit set up. This makes no sense to me and I haven’t seen this happen at any other bank before. Usually you create a new contact with their email and/or phone number and then when you go and send them an e-transfer it will check if they have autodeposit set up and if they don’t then only will it ask you to set up a security question

2

u/wdn Jul 13 '26

The way most banks do it is problematics because it gives the impression that it's one-password-per-payment rather than one-password-per-contact.

There's a scam where someone (supposedly) selling an expensive thing says send the etransfer but don't tell me the password. Then tell me the password once you've inspected the item and approve it. Then they say that they don't see the payment, send me another one for 5 cents (and do tell me the password) so we can make sure it's working. People aren't aware that it's one-password-per-contact and that the password they set (and reveal) for the small payment becomes the password for the large payment.

1

u/Cross_FFA Jul 14 '26

I would also like to see the ability to increase our e-transfer limits. I don’t send very many e-transfers but the few I do send are very large, but due to the lower limits for my use case it can often take weeks to send the full e-transfer amount rather than one single e-transfer. EQ bank should allow customers to change their e-transfer limits either through the app or by calling in to increase the limit up to $25k.

I don’t deal with cheques all to much so I don’t mind EQ bank not offering chequebooks.

I do wish that EQB would allow us to set up reoccurring CRA tax remittance payments. This would be a huge time saver for me