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EQ Bank and Wise Platform: Changing the global payments narrative for Canadians

Carly Giltrap
Carly Giltrap
15.12.25
Read time 1 minute

Discover how EQ Bank launched international payments in just one month - with 75% arriving instantly* and 70% becoming repeat users.

EQ Bank's customers are clear about what they want from their financial provider: Fair exchange rates, minimal fees, and an experience that just works.

With over 600,000 personal and business customers, the Canadian digital-first bank knew it needed to offer cross-border payments services that reflected its ethos of convenience, transparency, and low cost.

That’s where Wise Platform came in. Through our partnership, EQ Bank is able to offer international payments that use the real exchange rate - with no markups or hidden fees - directly within the EQ Bank app.

We spoke with Michael Cebo, Associate Director of Payments at EQ Bank, about how our collaboration is helping the bank deliver on its mission to drive change in Canadian financial services.

EQ Bank has one streamlined connection to our global payments network, and its customers get fast, cheap, and transparent transfers - all without ever leaving the EQ Bank app.

In this interview, Michael shares how 70% of the bank’s customers are repeat users, regularly sending money to the same friends and family. What’s more, 75% of payments arrive instantly.* In fact, leveraging our infrastructure, EQ Bank delivers fast payouts in over 18 currencies and to over 140 countries - including CNY, INR, and PHP.

Michael also shares three reasons our partnership has been so successful:

  • Speed to market. The bank needed to launch its global payments service quickly and securely, and our delivery team got them live in just one month.
  • Aligned values. EQ Bank and Wise share a commitment to transparency, low fees, and putting customers first.
  • Operational simplicity. By tapping into our global payments infrastructure, the bank was able to reduce the complexity of managing licenses, settlement accounts, and multiple relationships.

Through one simple API integration, EQ Bank has one streamlined connection to a global payments network, and its customers get fast, cheap, and transparent transfers - all without ever leaving the EQ Bank app.

Meet EQ Bank

EQ Bank is the digital platform of Equitable Bank, Canada’s Challenger Bank™.

Founded over 50 years ago, Equitable is the country’s seventh largest bank by assets. It serves nearly 780,000 customers and more than 6 million credit union members through its businesses with personal and commercial banking.

Together, with its parent company, EQB, it has $138 billion in assets under management and administration (as at October 31, 2025).

For more information, visit https://www.eqbank.ca/

Discover how Wise Platform is helping global banks transform how they send and receive global payments.

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***Transaction speed claimed depends on individual circumstances and may not be available for all transactions.*

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