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EQIBank review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

EQIBank suits businesses that want to hold and spend several currencies without a monthly charge. Its monthly fee is $0, its currency conversion fee is 1% across 100 currencies, its card is a debit card on the visa network, and support runs on email and help centre.

Key facts

Best for
Business accounts that want multi-currency spending with no monthly charge and a 1% conversion fee.
Monthly fee
$0 (Source, checked September 26, 2026)
Currency conversion fee
1% (Source, checked September 26, 2026)
Card type
Debit (Source, checked September 26, 2026)
Card network
Visa (Source, checked September 26, 2026)
Currencies
100 (Source, checked September 26, 2026)
Legal entity
EQIBank Limited (Source, checked September 26, 2026)
Headquarters
Dominica (Source, checked September 26, 2026)
Founded
2015 (Source, checked September 26, 2026)
Support channels
Email, Help-centre (Source, checked September 26, 2026)
Features
Multi-currency, Travel, Virtual card
Audience
Business
Official website
eqibank.com

Credit cards

Currency conversion fee
1% (Source, checked September 26, 2026)
Perks
No spending limits, spend up to the amount deposited on the card, Accepted in over 44 million locations worldwide, 24/7 customer support, Digital wallet and web application, SMS and email notifications, EMV chip and PIN security, On/off software switch for extra control, Multiple cards per corporate or personal account, Card delivered in as little as five days (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
EQIBank Limited (Source, checked September 26, 2026)
Headquarters
Dominica (Source, checked September 26, 2026)
Founded
2015 (Source, checked September 26, 2026)
Support channels
Email, Help-centre (Source, checked September 26, 2026)
Features
Multi-currency, Travel, Virtual card
Audience
Business

Apps and profiles

Elsewhere
TrustpilotLinkedInXinstagram.com

Pros and cons

Pros

  • The monthly fee is $0, the same as Wise at £0 and Bitpanda at €0, so keeping the account open costs nothing.
  • Holds 100 currencies at a 1% conversion fee, with multi-currency, travel and virtual-card all on the multi currency, travel and virtual card list.
  • Card controls that matter day to day: an on and off software switch, several cards per account, and no spending limit beyond the balance deposited on the card.
  • A debit card on the visa network, accepted at many locations worldwide, with EMV chip and PIN security, SMS and email notifications, and a digital wallet and web application.

Cons

  • The 1% conversion fee bites on foreign spend and places it 125 of 259 brands on that measure, where travel cards on the site run at 0%.
  • Support runs on email and help centre only, with no phone line or live chat listed for a card that gets used abroad.
  • The account runs on a credit model for business customers, so personal everyday banking sits outside its remit.
EQIBank

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Who it suits

  • Businesses paying staff or suppliers abroad who want 100 currencies on a single account.
  • Firms that need spend controls, with an on and off switch and several cards per corporate or personal account.
  • Buyers comfortable holding money in Dominica, regulated by the Financial Services Unit of the Commonwealth of Dominica.

Who should look elsewhere

  • Personal banking customers, who get a plainer setup from Starling Personal Account Debit Card at £0 a month.
  • Travellers chasing the lowest conversion cost, since Wise and Bitpanda also take no monthly fee at £0 and €0 and focus on personal multi-currency spending.

How EQIBank compares

Where EQIBank is available

Available
Everywhere except Belarus, Cuba, Dominica, Iran, North Korea, Russia, Syria
Licence in Dominica
Financial Services Unit of the Commonwealth of Dominica, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does EQIBank charge to keep an account?+

The monthly fee is $0, so the account costs nothing to hold open. The other charge given is a currency conversion fee of 1% on money spent in another currency. Several cards per account and the on and off switch come as card features, and round-the-clock support is listed as a perk on the card.

How many currencies can I hold, and what does conversion cost?+

The account covers 100 currencies, and converting between them costs 1%. Multi-currency appears on the feature list alongside travel and virtual-card options, so a business paying overseas suppliers can hold balances in the currency it needs and convert at a known cost.

Who regulates EQIBank, and where is the money held?+

The provider is EQIBank Limited, based in Dominica, and the account falls under the Financial Services Unit of the Commonwealth of Dominica. It has traded since 2015. Balances sit with a Dominica-regulated business bank rather than a UK high-street bank, so UK savings protection is not the reference point here.

Can an individual open an EQIBank account?+

The account is built for business customers, so it is opened around company activity rather than everyday personal current banking. The card itself is listed as a debit card on the visa network. Eligibility follows business account rules, so personal applicants should look at a personal account instead.

What card controls and security do I get?+

There are no spending limits beyond the amount deposited on the card, plus an on and off software switch, several cards per corporate or personal account, EMV chip and PIN security, and SMS and email notifications. A virtual card sits on the feature list for staff and online payments, and cards arrive quickly after ordering.

How do I reach EQIBank customer support?+

Support runs on email and help centre, so email and a help centre are the channels listed. A digital wallet and web application handle everyday tasks, and the card carries round-the-clock support as a perk. Help stops at those channels, with no phone line or live chat among them.

How does EQIBank compare on cost?+

Its monthly fee is $0, the same as Wise at £0 and Bitpanda at €0, so upkeep does not separate the three. Conversion is where the gap opens: EQIBank charges 1%, which places it 125 of 259 brands on that measure.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Free ATM withdrawals, Protection.

EQIBank

EQIBank

Business accounts that want multi-currency spending with no monthly charge and a 1% conversion fee.

9.0/10See alternatives