EQ Bank has expanded its challenger-bank model to Canadian small businesses with the launch of its new Business Banking platform. The digital service offers a 2.25 percent high-interest account, Business GICs up to 3.30 percent, no monthly fees, and ten sub-accounts for taxes and payroll. Backed by Canada-based support, the move targets owners frustrated by high fees and low returns.
“Entrepreneurs deserve a banking experience that reflects their ambition,” said Dan Broten, SVP of EQ Bank. A prepaid Business Card with cash-back rewards is next, bringing long-overdue competition to the business-banking market.
Want to know more? Check out the source code on Fintech.ca.