EQ Bank increases interest rate on US dollar accounts to 1.25%

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[{"type":"text","content":"\n \n \n \n EQ Bank increases interest rate on US dollar accounts to 1.25%\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n May 11, 2022\n \n /CNW/ -\n \n \n EQ Bank\n \n \n , powered by Equitable Bank,\n \n Canada's\n \n Challenger Bank™, announced it has increased its USD account interest rate by 25bps to 1.25%\n \n 1\n \n . The new rate is now in effect.\n \n \n \n \n \n \n \n \n \n Increasing the rate on US dollar accounts is just another way of providing more value to Canadians. By reimagining what a US account can be, EQ Bank's US Dollar Account takes leading interest rates and combines it with one of the lowest exchange rates in the Canadian market\n \n 2\n \n . Add to that no monthly fees and no minimum balances and you have the best place to manage your US dollars. Through its integration with Wise, EQ Bank has also made it simple to send those US dollars internationally, at a fraction of the cost of other banks, and without having to convert your funds to CAD first.\n \n \n Faced with dismally low interest rates in the broader market, today's rate increase brings an instant boost to Canadians' pockets.\n \n \n \"When we launched US dollar accounts, we wanted to give our customers a far better alternative to what was available in the market,\" says\n \n \n Mahima Poddar\n \n , SVP and Group Head of Personal Banking for EQ Bank.\n \n \"It's not just about a great rate, but it's truly the best account for people who want to grow and send US dollars.\"\n \n \n EQ Bank customers can open a US Dollar Account in just a few clicks, and with no paperwork or lineups, customers can start sending, saving and converting their US ...

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