Equitable Bank mortgage
Pay your Equitable Bank mortgage with Chexy.
Pay your Equitable Bank mortgage through Chexy from the chequing account you already use, and earn 1 Aeroplan point per $1 on eligible payments.* Same lender, same rate, same term.
$2B+
bills processed
200K
Canadians on Chexy
$40M
rewards earned
How to
How to pay your Equitable Bank mortgage with Chexy
1
Sign up for Chexy
Create your account, verify your identity and add the chequing account you pay your mortgage from today, plus your Aeroplan number.
2
Set up your mortgage
Pick Equitable Bank as your lender and confirm your mortgage details. Chexy gives you its account details and a void cheque for Equitable Bank.
3
Tell Equitable Bank about the new account
Call Equitable Bank, ask for the mortgage servicing team and ask to change the account your mortgage payments are withdrawn from (pre-authorized debit). Give them your Chexy details and authorize the change.
4
Chexy pays Equitable Bank
On your usual payment date, Chexy debits your chequing account and pays Equitable Bank as usual. Points arrive after every payment.*
What you can pay
How it works with your mortgage
Your Equitable Bank mortgage
Your Equitable Bank mortgage stays exactly as it is. Chexy only changes which account your payment comes from.
- Your regular mortgage payment. The same amount, on your usual payment date.
- No changes to your mortgage. Same lender, same rate, same term. Nothing to refinance, nothing to re-apply for.
1.75% per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75.
Timing
When Equitable Bank gets paid
- At least two weeks before your next payment
- Give your lender your Chexy account details, so the change is in place in time.
- Your usual payment date
- Chexy withdraws your payment plus the fee from your chequing account, never in advance, and pays Equitable Bank on schedule.
Paying your Equitable Bank mortgage with Chexy: questions
Can I pay my Equitable Bank mortgage through Chexy?
Yes. Chexy pays Equitable Bank from the chequing account you already use, on your usual payment date, and you earn 1 Aeroplan point per $1 on eligible payments.*
How do I tell Equitable Bank?
Call Equitable Bank and ask for the mortgage servicing team. Ask to change the account your mortgage payments are withdrawn from, ask how they accept the change, give them your Chexy institution, transit and account numbers and authorize it. Before you hang up, ask them to read the details back and confirm the first payment date from the new account.
Do I pay with my credit card?
No. Mortgage payments through Chexy come from your chequing account, the same account you pay from today. You earn Aeroplan points directly through Chexy, no credit card required.
What does it cost?
There’s a 1.75% fee per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75. You also earn 2,500 Aeroplan points on that payment.*
Does this change anything about my mortgage?
No. Your rate, term, amortization and payment schedule all stay exactly the same.
The fine print
- *Conditions apply. 1 Aeroplan point per $1 on eligible mortgage payments made through Chexy.
- Your Chexy account details are held at Peoples Trust Company. If it doesn’t show up in your lender’s system, ask the representative to enter the details by hand and read them back to you.
- If your mortgage has two borrowers, Equitable Bank may need both of you to authorize the change.
- Keep your old account funded until you see a mortgage payment come out through Chexy. Until the change takes effect, your lender still draws from the old account.
- Chexy is not a mortgage lender, mortgage broker or party to your mortgage.
Sources: How to switch your mortgage payments to Chexy · Chexy mortgage payments · How much does Chexy cost?. Equitable Bank is not affiliated with Chexy.
Also: Pay your TD mortgage with Chexy · Pay your RBC mortgage with Chexy · Pay your CIBC mortgage with Chexy · Pay your Scotiabank mortgage with Chexy · Pay your BMO mortgage with Chexy · Pay your First National mortgage with Chexy · Pay your National Bank mortgage with Chexy · Pay your MCAP mortgage with Chexy · All payees
Earn Aeroplan points on your Equitable Bank mortgage.
1.75% per payment, added to your withdrawal