EQ Bank Partners With TransferWise To Shake-Up International Money Transfers

EQ Bank is changing the game again and is announcing a partnership with TransferWise, the global technology company for international money transfers, shaking up how Canadians send money overseas. The result is fully transparent, remarkably fast international money transfers that are up to 8x cheaper for EQ Bank customers.

Working with TransferWise for Banks, EQ Bank has integrated TransferWise’s API directly into their infrastructure. This integration allows EQ Bank customers to send money right from their Savings Plus Account at the real exchange rate, paying only a small, transparent TransferWise while being able to earn 2.30 per cent interest until the moment they hit send.

As a leader in digital banking, and the first Canadian bank to move its core system to the cloud, this partnership marks another significant step for EQ Bank in driving innovation in financial services.

While Canada is on the cusp of delivering open banking, partnerships with fintechs, improving digital technologies and investing in agile cloud architectures, will be critical in delivering first-class services across Canada, paving the way for more sophisticated ways for Canadians to bank.

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