ATM Fee Update: EQ Bank and Wealthsimple Policy Changes (October 2026)

A quick update for anyone who read our Canadian debit cards for international travel guide: while reviewing it this week, we found two ATM fee details that needed correcting. Both matter if you carry either card abroad.

EQ Bank: Reimbursement Is Canada-Only

EQ Bank still charges $0 in its own fees on foreign ATM withdrawals and still applies the mid-market exchange rate with no markup. What we got wrong: the ATM operator fee reimbursement only applies at ATMs in Canada. At a foreign ATM, whatever surcharge the machine’s owner charges is on you.

In practice, that means a European ATM that tacks on a €3–5 surcharge costs you that amount even though EQ’s own fee is $0. Always choose the local currency and decline dynamic currency conversion, that part of the advice is unchanged.

Wealthsimple Cash: Unlimited Reimbursement

Better news in the other direction. We had listed Wealthsimple’s operator fee reimbursement as capped at $5 per transaction. It is not capped. Wealthsimple reimburses foreign ATM operator fees globally, with no limit. Combined with the $3,000 CAD daily ATM limit, instant lock/unlock, and 0% FX markup, that makes it the clear winner for cash withdrawals abroad.

What This Changes in Our Stack

Nothing structural. Wealthsimple Cash was already our primary ATM card and EQ Bank the backup, and that is still the setup. But the gap between them is wider than we described: if you are only going to carry one debit card for cash abroad, Wealthsimple is the answer.

Full details, including the Wise comparison and the dynamic currency conversion trap, are in the updated guide: Best Canadian Debit Cards for International Travel: Wealthsimple vs EQ Bank vs Wise (2026)