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Venn Vs. EQ Bank (Equitable Bank)

Venn helps you manage money, not just store it.

With multi-currency accounts, smarter payments, and automated controls, Venn gives Canadian businesses everything EQ Bank (Equitable Bank) doesn’t.

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VS

Supporting 10,000+ Canadian companies

Know what you pay.
Flat fees and nothing else.

Every fee shown before you confirm. No markups hidden in the rate.

EQ Bank (Equitable Bank)

Physical corporate cards

Virtual corporate cards

Free accounts with no minimums

CAD, USD, GBP & EUR accounts

Spend controls

Automatic receipt collection

Expense management software

Simplified Accounting Software Integration

Required branch visits

Venn is proudly built for Canada.  If your business needs more than just transfers — interest on your balance, cashback, CDIC insurance, expense management, and AP automation — Venn is built for that.

Open free Account

EQ Bank (Equitable Bank) isn't an all in one solution.

Venn handles your whole business banking.

Multi-currency accounts

Hold CAD, USD, GBP and EUR in local accounts for free. Earn USD and pay USD suppliers with no conversions or fees.

2% interest + 1% cashback

Your  balance earns 2% interest on CAD and USD. Your card spend earns 1% cashback with no cap.

Unlimited cards for your team

Issue unlimited physical and virtual cards with custom spending limits. Hold all your currencies with one card.

CDIC protected up to $100,000

Your USD & CAD are insured up to $100,000, giving you confidence your money is safe. Your funds are held and protected independently from Venn's business.

What our customers
are saying

Start sending and receiving globally in minutes, not days. And then do so much more.

With Venn, you get the best of both business banking and financial automation.

1

Apply online in 5 minutes

No branch visit or credit check required. Sign up in 5 minutes and get approved the same day. Once you're approved, you'll get your local multi-currency accounts (CAD, USD, GBP, and EUR) live immediately.

You can add funds in minutes using bank transfers or Interac e-Transfer®.

Venn is made for corporations and sole proprietors. If you are just starting your business, you can also use Venn to incorporate online with the lowest fees in Canada.

2

Add recipients and start sending payments in 60 seconds

Add recipients in minutes and start sending payments right away. Once added, recipients are saved for future payments, making it easy to pay vendors and partners.

You can also share your local Venn banking details across currencies to start receiving payments from clients and customers directly into your Venn account.

Receive USD into your USD account to avoid unnecessary FX markups and hidden fees from PayPal and other platforms, then convert within Venn.

3

Send via the cheapest rail automatically

Send local payments for free: EFT and Interac e-Transfer® for Canada, ACH for the US, SEPA for Europe, Faster Payments for the UK. Use SWIFT for everywhere else and pay less than $10 per wire, unlike the Big Banks that charge you $25+.

Convert your currency at rates starting at 0.25% instead of paying the 2-3% markups charged by leading banks.

You can learn more about our fees and rates on our Pricing page.

4

Create custom cards for your team immediately

Create virtual corporate cards for your team in minutes, with custom restrictions and limits, while tracking all of your company’s expenses in one place.

With Venn, you can create unlimited virtual cards, and each card can access all of your currencies, automatically using the local currency first whenever available.

Pay with a Venn card or through Apple Pay / Google Pay, upload receipts that auto-match in seconds, and make spreadsheets and manual expensing a thing of the past.

5

Automate your accounting and let AI handle month-end

Syncs to QuickBooks and Xero to automate your accounting: create custom rules and access all your clients through one portal. Create custom invoices and accept both credit cards and bank transfers while letting you choose who covers the fees.

You can also use Venn Intelligence, our growing suite of AI agents, to automate accounting workflows and decision-making to save even more time.

The fastest and most robust business banking platform, now with built in AI intelligence

AI Receipt Matching

Upload your receipts and Venn auto-matches and links the right transactions. Whether it's 3 receipts or 300: skip the manual work.

AI Category Suggestions

Venn learns from your history and suggests categories inline: no more manual entry or endless scrolling.

AI Rule Engine

Once a pattern repeats, Venn suggests rules you can implement. Your most common decisions are now automated.

Explore Venn Intelligence

Frequently asked questions

Everything you need to know about the product and billing.

What is the best business bank account in Canada in 2026?
Is Venn a real bank?
Are there really no monthly fees?
How does the 2% interest work?
Can I keep my existing bank account and use Venn too?
How long does it take to open an account?
Does Venn integrate with QuickBooks or Xero?

Join 10,000+ Canadian businesses that are saving millions of dollars today

Open a free account

Built in Canada, for Canadians

Venn vs.

EQ Bank (Equitable Bank)

Venn helps you manage money, not just store it.

With multi-currency accounts, smarter payments, and automated controls, Venn gives Canadian businesses everything EQ Bank (Equitable Bank) doesn’t.

4.8

trusted by 10,000+ Canadian businesses

A peak of the Venn platform and a Venn/Vault card

Compare Venn vs. EQ Bank (Equitable Bank)

Venn
EQ Bank (Equitable Bank)

Physical corporate cards

Venn

EQ Bank (Equitable Bank)

Virtual corporate cards

Venn

EQ Bank (Equitable Bank)

Free accounts with no minimums

Venn

EQ Bank (Equitable Bank)

CAD, USD, GBP & EUR accounts

Venn

EQ Bank (Equitable Bank)

Spend controls

Venn

EQ Bank (Equitable Bank)

Automatic receipt collection

Venn

EQ Bank (Equitable Bank)

Expense management software

Venn

EQ Bank (Equitable Bank)

Simplified Accounting Software Integration

Venn

EQ Bank (Equitable Bank)

Required branch visits

Venn

EQ Bank (Equitable Bank)

Sign up online in 5 minutes

"We live in Europe and had no way of visiting the branch for simple things like creating corporate cards, but Venn has revamped our expense management, allowing us to focus on our clients as we expand to Canada."

Read the Case Study

— Jasper Beirens

Head of Finance, Alan

Team facing the camera happily

Compare Venn vs.

EQ Bank (Equitable Bank)

Venn
EQ Bank (Equitable Bank)

Unlimited Multi-currency corporate cards

Vault

EQ Bank (Equitable Bank)

Virtual corporate cards

Vault

EQ Bank (Equitable Bank)

CAD, USD, GBP & EUR accounts

Vault

EQ Bank (Equitable Bank)

Expense management software

Vault

EQ Bank (Equitable Bank)

Spend controls

Vault

EQ Bank (Equitable Bank)

Automated payables

Vault

EQ Bank (Equitable Bank)

Market leading FX (.45-.25% FX with Venn)

Vault

EQ Bank (Equitable Bank)

Invoicing

Vault

EQ Bank (Equitable Bank)

Up to $100,000 of CDIC protection

Vault

EQ Bank (Equitable Bank)

Canadian Accounting Logic and Integrations (QBO & XERO)

Vault

EQ Bank (Equitable Bank)

Free EFT and ACH transfers

Vault

EQ Bank (Equitable Bank)

Built by Canadians for Canadians

Vault

EQ Bank (Equitable Bank)

Here's what you can get done with Venn in just 7 days

Pay global vendors and employees globally, at rates you can’t beat. Forget about high fees and in-branch visits just to send a $10,000 transfer. Skip the line, join the revolution.

Get Started

Get started.

  • Sign up for an account in < 5 minutes

  • Link your account

  • Let us do the hard work

Get comfortable.

  • Setup up expense management

  • Set up approvals and controls

  • Issue cards to employees

Ask why you didn't switch years ago.

  • Move 100% of business spend to Venn

  • Eliminate legacy tools and make your team 5x more efficient

  • Close your books faster

“Venn's solution clearly differentiates from that of major banks and credit card companies in its speed, cost, and operational simplicity. Venn's product and customer service is substantially ahead of the competition.”

— Tonny Lam

CEO, Hook + Ladder Digital

Frequently asked questions

Everything you need to know about the product and billing.

What is Venn?
Are my funds CDIC insured?
Which currencies does Venn support?
Does Venn have any hidden fees?
With Venn, is there a minimum balance requirement?
How long does it take to set up my account?
Does Venn offer customer support?
Does Venn integrate with accounting software?

Join 10,000+ businesses banking with Venn today

Streamline your business banking and save on your spend and transfers today

No personal credit check or guarantee.

Venn platform UI on desktop and mobile