With the EQ Bank Mastercard, you can control your spending, earn cashback, and pay nothing for it.

The EQ Bank Mastercard is more than just a card, it’s the perfect solution for those living in Canada who want the freedom to travel, shop, and manage their spending without being hit by hidden fees.

Forget annual fees, abusive exchange rates, and unexpected charges: with this card, you have everything you need at your fingertips — with transparency and convenience.

Ideal for those who value financial control and simplicity, the card offers 0.5% cashback on all purchases, fair currency conversion at the official Mastercard rate, and no monthly fees. It also acts like a true financial passport, being accepted practically worldwide.

In this article, you’ll discover why the EQ Bank Mastercard is gaining popularity among Canadians, how it works, who can apply, and — most importantly — how it can transform your spending experience, at home or abroad.

A card designed for those who don’t want to overpay

Have you noticed how most cards charge small fees that, when added up, take a big bite out of your wallet?

Annual fees, conversion charges, withdrawal fees, monthly maintenance… all of this can turn a carefully planned trip into a budget disaster.

The EQ Bank Mastercard takes a different approach. The focus is simplicity and transparency: you don’t pay annual fees, monthly charges, or foreign transaction fees. Currency conversion is based on Mastercard’s official exchange rate — no extra margins, no tricks.

And as a great travel companion, it also offers free withdrawals at EQ Bank-compatible ATMs, ensuring you have access to your money when you need it, without unpleasant surprises.

Cashback on every purchase — even outside Canada

Anyone who travels knows: every cent counts. And that’s where the EQ Bank Mastercard shines. Every purchase made with the card earns 0.5% cashback, deposited directly into your account.

That’s right — every expense returns a small portion of what you spent, automatically.

No need to wait months or collect points for rewards you might not even use. Here, the money comes back to you without any hassle, helping to lower the cost of your next purchases or future travels.

It’s a constant incentive to use your card — and a subtle way to save while you spend.

Works here, there, and anywhere

The EQ Bank Mastercard is accepted anywhere Mastercard is accepted — meaning virtually anywhere in the world.

Whether you’re grabbing a coffee in Toronto, booking a hotel in Paris, or scheduling a tour in Bali, you can use your card with total peace of mind.

And since it’s a prepaid card, you can only spend what you have available in your EQ Bank account. That means more control and less risk of debt.

Perfect for those who want to avoid credit card debt but still enjoy global convenience and acceptance.

Who should consider this card?

The EQ Bank Mastercard is a great choice for a variety of profiles, especially:

• Frequent travelers: save on every purchase outside Canada with fair exchange rates and guaranteed cashback;
• Young adults and students: full spending control, no credit risk, and real benefits;
• Remote professionals: ideal for those who mix work and travel, with easy access to money and global usability;
• People seeking financial simplicity: no fees, no hassle, fully digital management.

If you fit one of these profiles — or simply want to stop paying for banking services you don’t use — this card might be exactly what you’re looking for.

Anything to consider?

While it’s excellent for financial control and international use, the EQ Bank Mastercard has a few points to keep in mind:

• It’s a prepaid card: it doesn’t offer a revolving credit limit. You need available funds in your account to use it;
• Cashback is fixed at 0.5%: there are no higher-earning categories;
• External ATM fees may apply for international withdrawals: not charged by EQ Bank, but by the ATM provider.

These aren’t exactly disadvantages, but important features to align expectations. In practice, they make the card even safer for those looking to avoid debt or overspending.

How to apply for the EQ Bank Mastercard and what are the requirements?

Applying for the EQ Bank Mastercard is easier than packing your bag for your next trip. The process is fully online — no lines, no paperwork, and quick approval.

If you live in Canada and value convenience, this card could be in your hands within days.

Requirements to apply:

• Be a resident of Canada (with a fixed address);
• Be 18 years or older (or the legal age in your province);
• Have an active EQ Bank account;
• Provide a valid ID (such as driver’s license, passport, or provincial ID);
• Have a Social Insurance Number (SIN) for identity verification.

Step-by-step to apply:

1. Create your free digital account with EQ Bank
   Visit the official website or download the app. Sign-up takes just a few minutes.

2. Complete identity verification
   Upload your documents securely, 100% online.
3. Request the EQ Bank Mastercard
   Once your account is active, request your card directly through the app or online banking.
4. Receive it at home and activate with a tap
   The card is delivered to your registered address and can be activated instantly in the app.
5. Load and start using
   Transfer funds from your EQ Bank account to the card and it’s ready to use — in Canada or abroad.

Simple, direct, and hassle-free — just like banking should be.

Conclusion: your next travel card might be this one

The EQ Bank Mastercard is the ideal card for anyone looking for convenience, control, and savings — without giving up the freedom to shop and travel the world.

With cashback on every purchase, no monthly fees, and fair currency conversion, it stands out as a modern, accessible option for daily life and for those always ready to go.

If you live in Canada and want to escape hidden fees and traditional banking bureaucracy, this might be the time to try a card that thinks like you: simple, transparent, and smart.

And if you’re comparing your options before making a decision, don’t stop here. In our next article, we’ll break down the Scotiabank Momentum® — another Canadian card that offers competitive cashback and exclusive benefits. Could it be a better fit for your profile? Find out in the next post!