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National Bank of Canada at a glance

The National Bank of Canada was founded in 1859 and is the country’s sixth largest bank.

National Bank of Canada account options
Savings
Chequing
Mastercard credit cards
Investing
Other National Bank of Canada services
Mortgages
Loans and lines of credit
Wealth management
Small business banking and lending
Insurance

National Bank of Canada overview

In 1979, Bank Canadian National and The Provincial Bank merged to form The National Bank of Canada, sometimes known as NBC CA, NBC or National Bank. Today, NBC is one of the country’s largest financial institutions, with more than 30,000 employees and $454 billion in assets as of July 31, 2024.

The National Bank of Canada provides bank accounts, lending and investment products, and wealth management services to millions of individuals and businesses across the country. Although it primarily serves Quebec, the National Bank of Canada has more than 360 branches and over 940 banking machines across Canada.

Online banking capabilities at National Bank of Canada

Like most of Canada’s major banks and credit unions, the National Bank of Canada offers a full suite of online banking services through its website (www.nbc.ca) and mobile app.

NBC customers can use the online portal and app to conduct just about any banking transaction, and enjoy access to features such as mobile cheque deposit, mobile payments and Interac e-transfers. To log in to the National Bank of Canada, visit its online banking portal via your desktop or mobile device. If you’re a new account customer, you may need to register your account first.

Is my money safe at the National Bank of Canada?

The National Bank of Canada is a member of the Canada Deposit Insurance Corporation, or CDIC, providing protection of up to $100,000 of chequing, savings and other funds in the unlikely event of bankruptcy.

Furthermore, NBC says that it ensures the confidentiality and security of customers’ financial information through two-factor authentication, encryption systems, optional SecurID tokens for business clients, and the option to enroll in enhanced identity theft and credit monitoring tools.

National Bank of Canada account types

National Bank of Canada saving account

High-interest savings account (HISA): Earn a modest interest rate with no fixed monthly fees.

National Bank of Canada chequing accounts

Many of the National Bank of Canada’s chequing accounts have monthly fees that vary based on the age of the account holder and their account balance. Clients in certain professions can also take advantage of customized banking offers.

Minimalist chequing account: Up to 12 transactions a month and free Interac e-transfers.
Modest chequing account: Up to 30 digital transactions and free Interac e-transfers.
Connected chequing account: Unlimited digital transactions, free Interac e-transfers and up to $30 off credit card fees.
Total chequing account: Unlimited digital and branch transactions, unlimited Interac e-Transfers, up to $150 off credit card fees and more.
Newcomers: Discounted chequing and debit card services designed for immigrants.
Students and Youth: Discounted chequing account services for those enrolled at a post-secondary institution, or under the age of 24.
USD Progress account: Hybrid account services for those who travel to the U.S. or transact in U.S. dollars. Earn a small amount of interest with a minimum balance of US$5,000.

National Bank of Canada credit cards

The National Bank of Canada offers a variety of branded Mastercard options, including:

World Elite Mastercard.
MC1 Mastercard.
Syncro Mastercard.
Allure Mastercard.
ECHO Cashback Mastercard.

National Bank of Canada investing accounts

Other National Bank of Canada services

Guaranteed investment certificates (GICs).
Personal loans and lines of credit.
Mortgages and home equity lines of credit (HELOCs).
RRSP loans and lines of credit.
Car loans.
Insurance.
Private wealth management.
Estate planning.
Business banking services for entrepreneurs.

National Bank of Canada fees

Banking fees can vary based on the accounts you have and how you use them. Here are some of the common fees you may encounter using the National Bank of Canada’s financial products and services:

Non-sufficient funds fee: $45.
Overdraft fee: $5 per transaction or per day.
Mailed statements: $2.50 per month for some accounts.
Dormant account fee: $20 to $60.
Transfer TFSA or GIC to another financial institution: $86.97 plus taxes.

Who’s the National Bank of Canada best for?

Quebecers who want a big bank that offers a wide variety of chequing or registered account options.

The National Bank of Canada’s long history and big bank reputation mean that it can offer a wide variety of banking products to customers of all ages and financial backgrounds. If you prefer to bank in person, branches may be harder to find outside of Quebec, but if you’re comfortable with online banking, NBC’s suite of digital banking features will make it easy to deposit and transfer money on the go.

Pros and cons of National Bank of Canada

There’s plenty to like about the National Bank of Canada, but no bank or credit union is without its drawbacks. Here’s what to consider before you open an account.

Pros of National Bank of Canada

Ability to bank online or in-person.
A wide variety of chequing and registered account options.
Discounted services available for customers of certain ages, newcomers to Canada and professionals in certain industries, such as healthcare or IT.

Cons of National Bank of Canada

Only one savings account.
Fewer branch locations outside of Quebec.

How the National Bank of Canada compares to other Big Banks

	ATMs and branches	Are deposits insured?
RBC	ATMs: 4,000+ Branches: 1,100+	Yes, by the Canada Deposit Insurance Corporation.
National Bank of Canada	ATMs: 2,000+ Branches: 360+	Yes, by the Canada Deposit Insurance Corporation.
TD Bank	ATMs: 2,500+ Branches: 1,000+	Yes, by the Canada Deposit Insurance Corporation.
BMO	ATMs: 3,200+ Branches: 800+	Yes, by the Canada Deposit Insurance Corporation.
CIBC	ATMs: 2,900+ Branches: 1,000+	Yes, by the Canada Deposit Insurance Corporation.
Scotiabank	ATMs: 3,500+ Branches: 900+	Yes, by the Canada Deposit Insurance Corporation.

» MORE: Read our Banking reviews of other Big Banks, credit unions and online-only banks.

Most of the National Bank of Canada’s customers and branch locations are concentrated in Quebec. However, the bank serves all provinces, and has foreign-exchange counters, commercial banking centres and automated banking machines in several countries around the world, including the US.

No, despite its name, the National Bank of Canada is a commercial bank. The Bank of Canada, a different institution, is federally controlled.

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