EQ Bank launches EQ Bank Business Card, a smart way for Canadian small business owners and entrepreneurs to spend, save and grow

• New Business Card is built to help small business owners and entrepreneurs transact with ease while keeping their hard-earned dollars growing
• Offers high interest on balances, unlimited cashback on spending with a minimum of $10,000 monthly spend, and no monthly or annual fees
• Low foreign exchange fees make international business spending more affordable

TORONTO, June 18, 2026 /CNW/ - EQ Bank today announced the launch of the EQ Bank Business Card, a prepaid, reloadable Mastercard® for Canadian small business owners, which is designed to provide greater control over spending and keep more of their hard-earned dollars. As the latest addition to EQ Bank's growing Business Banking suite, the card offers high interest and cashback without annual fees, standing firmly on the side of small businesses in a landscape where business payment options often force a trade-off between access, cost and value.

EQ Bank launches EQ Bank Business Card

"EQ Bank's goal has always been to help Canadians get ahead, with banking that is simpler, accessible and more rewarding. This includes our country's dedicated small business owners and entrepreneurs, who deserve a truly competitive banking option now more than ever," said Daniel Rethazy, EVP, Personal Banking, EQ Bank. "With the new EQ Bank Business Card, we're removing barriers that businesses face to put control and value back in the hands of Canadians. We are thrilled about this launch and the value it can create for millions of Canadian business owners."

Traditional business credit cards can offer flexibility but often include annual fees and may require an established credit history – factors that can be challenging for some early-stage small businesses. Debit options, meanwhile, provide a straightforward way to spend existing funds, but typically don't offer additional earning potential or cashback; the equivalent of leaving money on the table. The EQ Bank Business Card is designed to complement these options by giving entrepreneurs a new way to make the most of their money – allowing them to spend their own funds while being rewarded with consistently high interest and cashback with no caps or category restrictions, ensuring their hard-earned dollars continue working in the background.

Built on the Mastercard network, the Business Card integrates seamlessly with EQ Bank's high-interest, no-monthly-fee Business Account, providing a clear, real-time view of balances and transactions. Together, they offer a more streamlined way to manage day-to-day spending, support smarter budgeting and reduce the friction of managing multiple financial tools across different platforms.

EQ Bank Business Card highlights:

• Earn high interest of 2.25%^* on balances, so earnings continue growing,
• Cashback of 1%^** on all purchases, without limits or category restrictions, on monthly spend of $10,000 or more,
• Zero annual or monthly fees, helping businesses keep more of what they earn,
• Low foreign exchange fees for more accessible international spending,
• No credit checks or paperwork for sign up, with instant funding and mobile wallet compatibility.

"Canadian small businesses and entrepreneurs are managing so much in real time, from cash flow and payments to expenses and savings - and their banking needs to keep pace with the demands they're navigating," said Dan Broten, SVP and Head of EQ Bank. "The EQ Bank Business Card is designed to give our customers more control over their spending, better earnings on their balance and more value from every transaction. By lowering barriers and making these tools more accessible, we're helping more Canadians build, run and grow their businesses."

To learn more about the EQ Bank Business Card, available to EQ Bank Business Banking customers, visit eqbank.ca/business/card.

Disclaimers
The EQ Bank Business Card is not available in Quebec.

^* Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

^** You will earn 1% cash back when you make $10,000 or more in purchases with the Business Card in a given month. Cash back will be paid monthly and deposited onto your Business Card. Fees, ATM withdrawals, cash advances, and any credits do not qualify as purchases and do not earn cash back. Refunds will reduce purchases and cash back earned.  

^®Mastercard is a registered trademark of Mastercard International Incorporated. Used under license.

About EQ Bank
Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 827,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB), a leading digital financial services company with more than $144 billion in combined assets under management and administration (as at April 30, 2026). Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of the top banks in Canada on the Forbes World's Best Banks list (2021 – 2025).

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

Investor contact:
Lemar Persaud
VP and Head of IR
[email protected]

Media contact:
Danielle Mason
Director, PR & Communications
[email protected]

SOURCE EQ Bank