National Bank of Canada Review

Jun 17, 2026

National Bank of Canada is a full-service bank headquartered in Montreal. It’s strongest in Quebec and may be a good choice for residents of the province who prefer a big bank that offers a wide variety of accounts.

Written by Siddhi Bagwe

Editor & Content Strategist

Edited by Athena Cocoves

Managing Editor

Written by Siddhi Bagwe

Editor & Content Strategist

+ 1 more

Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

National Bank of Canada overview

🏦 The National Bank of Canada was founded in 1859 and is one of Canada’s six largest banks.

National Bank is not the obvious pick for the highest savings rate or the biggest branch network. It makes more sense if you want a full-service bank, live in Quebec or Western Canada, qualify for one of its bundled offers, or are comfortable banking digitally.

Canadians, especially those in Quebec, who prefer a large bank with a wide range of account options.

National Bank's long history and large-bank reputation mean that it can offer banking, lending, investing and wealth-management products to customers with different needs and financial backgrounds.

National Bank's physical network remains most visible in Quebec, but its Canadian footprint has expanded after the Canadian Western Bank acquisition. The bank's branch and ABM directory lists locations across Canada; its Natbank subsidiary has four branches in Florida. Customers who are comfortable banking online can also use National Bank's digital banking features to deposit cheques, make payments and move money on the go.

Customers who are comfortable banking online can also use National Bank's digital banking features to deposit cheques, make payments and move money on the go.

National Bank of Canada full review

In 1979, Banque Canadienne Nationale and the Provincial Bank of Canada merged to form The National Bank of Canada, sometimes known as NBC CA, NBC or National Bank.

Today, National Bank is one of the country’s largest financial institutions. As of April 30, 2026, National Bank had $618 billion in assets and more than 35,000 employees.

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 has historically been concentrated in Quebec, National Bank’s 2025 acquisition of Canadian Western Bank expanded its footprint in Western Canada

WHAT ONLINE BANKING FEATURES DOES NATIONAL BANK OF CANADA OFFER?

Like most of Canada’s major banks and credit unions, the National Bank of Canada offers online banking through its website and mobile app.

Customers can use the digital portal and app for many everyday banking transactions, including Interac e-Transfers, bill payments, mobile payments and mobile cheque deposits. The Google Play listing says the app can be used for personal and business banking, including supplier payments and cheque deposits for business clients.

IS MY MONEY SAFE AT NATIONAL BANK OF CANADA?

National Bank is a Canada Deposit Insurance Corporation (CDIC) member. CDIC coverage protects eligible deposits up to $100,000 per depositor, per insured category, at each CDIC member institution. Eligible products include chequing accounts, savings accounts, term deposits and GICs; investments such as stocks, bonds, mutual funds, ETFs and cryptocurrencies are not covered by CDIC.

National Bank also describes security measures that include digital-banking safeguards and device/security monitoring. As with any bank, customers should use strong passwords, enable available security features and monitor accounts for unauthorized activity.

National Bank of Canada customer ratings

🚩 Customer ratings

We gather consumer feedback to understand how users feel about banking with the National Bank of Canada. While the bank performs well on mobile app stores, its score remains below average on the consumer review platforms and forums.

As of this writing, National Bank of Canada had the following ratings:

4.8 stars on the Apple App Store.
4.7 stars on the Google Play Store.
1.4 out of 5 possible stars, based on over 186 customer reviews on Trustpilot.

Note: Consumer review platforms tend to reflect a higher volume of negative feedback as satisfied users are less likely to leave comments. Additionally, individual reviews may not reflect the full experience of these users. That said, public forums can offer a helpful starting point for understanding how the financial institution handles account issues, customer service and overall support.

🕵️ What Reddit users are saying

Reddit’s impression of National Bank is different from the way people talk about the other Big Six banks. It doesn’t always come up as a default everyday banking choice, but when it comes up, it’s usually for a specific reason. Some recent discussions focused on how the 2025 acquisition of Canadian Western Bank will expand its physical network and product catalogue.

Reddit discussions include:

The most common reasons are professional packages, Quebec ties, National Bank Direct Brokerage or a desire to keep banking and investing under one roof. Users who like National Bank often point to practical perks: waived fees, credit card discounts, line-of-credit access, decent digital tools or commission-free online trades through NBDB.

The tradeoff is access. In everyday banking discussions, some users describe National Bank as adequate or useful for specific products, but not necessarily the bank they’d choose for broad branch access. That may not matter if you mostly bank online, use ABMs in THE EXCHANGE network or have a specific advisor. It may matter more if you want the comfort of seeing your bank everywhere.

Overall. National Bank seems less like the obvious default and more like a bank that makes sense when you fit one of its niches. It may be a good option if you qualify for a student, newcomer or professional package, live in Quebec or Western Canada, want a full-service bank with digital tools, or plan to use National Bank Direct Brokerage. If you mainly want the biggest branch network, the highest savings rate or a no-fee online account, Reddit users tend to point elsewhere.

Keep in mind: Reddit comments are anecdotal and may not reflect the average customer experience. Public forums can still be useful for seeing what questions, frustrations and tradeoffs real customers bring up when comparing banks.

National Bank of Canada account types

As one of Canada’s biggest banks, National Bank of Canada offers a wide selection of accounts for you to choose from. NerdWallet's picks for best banking products include:

National Bank The Connected® Chequing Account

4.0

NerdWallet rating

Monthly fee

$15.95

Transactions

Unlimited

APPLY NOW

on National Bank's website

NerdWallet's take

You get unlimited digital transactions, free unlimited e-transfers and a $30 discount on eligible credit cards when you open The Connected chequing account.
National Bank of Canada, or NBC, is headquartered in Montreal, Quebec, and is one of Canada’s Big Six banks offering bank accounts, lending and investment solutions, and wealth management services. Read our review of National Bank of Canada for more information.

Product details

Unlimited access to all digital transactions.
Unlimited and free Interac e-transfers.
Make international payments with Mastercard Send by Mastercard and Interac.
$30 off after enrolment of an eligible credit card.
Mobile or contactless payment with Apple Pay, Google Pay and Interac Debit contactless payments.
Access to cheque images and mobile cheque deposits.
Free online statements.
Access to ABMs in THE EXCHANGE network at no additional cost.
Eligible deposits are covered by CDIC.
Banking products are available only to those aged 18 and over.

National Bank Chequing Account Offer for Newcomers

Interest rateN/A

Monthly fee

$0-$11.96 for the first three years

APPLY NOW

on National Bank's website

NerdWallet's take

The National Bank Chequing Account Offer for Newcomers includes account fee savings for three years, unlimited ATM and e-transfer transactions, and your first cheque order free of charge.
National Bank of Canada, or NBC, is headquartered in Montreal, Quebec, and is one of Canada’s Big Six banks offering bank accounts, lending and investment solutions, and wealth management services. Read our review of the National Bank of Canada for more information.

Product details

Enjoy chequing account privileges with no fixed monthly fees for up to three years. Pay $0 monthly fee for the first year, $7.98 for the second year and  $11.96 for the third year (fees may be reduced or waived with a minimum balance or other qualifying conditions). l Bank’s Offer for students includes:
At the start of the fourth year, your account switches to The Connected package with a $15.95 monthly account, or $0 if you maintain a minimum daily balance of $4,500.
Unlimited online and Interac e-transfer transactions, plus free ATM and branch transactions for the first year.
Get free legal assistance by phone for 12 months through partner services.
Get your free cheque order for free.
Receive mailed paper statements free for the first year.
Apply for a Mastercard credit card without needing Canadian credit history. Subject to approval.
Eligible deposits are covered by CDIC.

National Bank of Canada saving account

🤓 OUR TAKE

National Bank’s High Interest Savings Account is convenient, but not especially competitive. It has no fixed monthly fee and allows free transfers between National Bank accounts, but the 0.55% interest rate is modest and some transactions cost extra.

Existing National Bank customers may find it useful for basic savings, but rate shoppers should compare it with online banks and higher-rate savings accounts.

Explore NBC savings accounts

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

National Bank of Canada chequing accounts

🤓 OUR TAKE

National Bank’s chequing lineup is stronger than its savings lineup. The accounts are best for customers who can use a student, newcomer, senior or professional offer, or who can maintain the minimum balance needed to waive a monthly fee.

The Minimalist package is a low-cost option for lighter users, while Connected and Total are better fits for people who want unlimited transactions and bundled perks.

Explore NBC chequing accounts

Minimalist chequing account: 18 digital transactions per month, including Interac e-Transfers.
Connected chequing account: Unlimited digital transactions and Interac e-Transfers included. The monthly fee is waived with a minimum balance of $4,500.
Total chequing account: Unlimited digital and in-person transactions, Interac e-Transfers included, 100 free cheques per year and more. The monthly fee is waived with a minimum balance of $6,000.
Newcomers: Banking offers for newcomers to Canada, including no fixed monthly fees for the first year.
Students and Youth: Discounted chequing account services for post-secondary students or customers under the age of 24.
USD Progress account: Hybrid account services for people 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

🤓 OUR TAKE

National Bank’s personal credit cards are Mastercard-branded. Purchase interest rates vary by card: many rewards cards charge a 20.99% purchase interest rate, while the Syncro Mastercard uses a variable lower-rate structure.

There are several cards for travel rewards, cash back, no-fee spending and lower interest, but the welcome bonuses may be less generous than those from some other major banks.

Explore NBC credit cards

The National Bank of Canada offers a variety of branded Mastercard options. Personal credit cards include:

Card	NerdWallet rating	Annual fee	Interest rates	Rewards rate	Apply Now
National Bank Syncro Mastercard					APPLY NOW on National Bank's website
APPLY NOW on National Bank's website	4.6/5	$35	10.75%/14.75%	N/A	APPLY NOW on National Bank's website
National Bank World Elite Mastercard					APPLY NOW on National Bank's website
APPLY NOW on National Bank's website	4.1/5	$150	20.99%/22.49%	1x-5x Points	APPLY NOW on National Bank's website
National Bank World Mastercard					APPLY NOW on National Bank's website
APPLY NOW on National Bank's website	3.5/5	$115	20.99%/22.49%	1.25x-2x Points	APPLY NOW on National Bank's website
National Bank Platinum Mastercard®					APPLY NOW on National Bank's website
APPLY NOW on National Bank's website	4.1/5	$70	20.99%/22.49%	1x-2x Points	APPLY NOW on National Bank's website
National Bank ECHO® Cashback Mastercard®					APPLY NOW on National Bank's website
APPLY NOW on National Bank's website	4.3/5	$30	20.99%/22.49%	1%-1.5%	APPLY NOW on National Bank's website

National Bank of Canada investing accounts

🤓 OUR TAKE

National Bank offers registered and non-registered investment accounts, managed portfolios and National Bank Direct Brokerage.

Its Direct Brokerage platform offers commission-free online trading on stocks and ETFs, though fees may apply for some transactions or trades that require agent assistance.

Investors seeking hands-off, low-cost long-term investing may want to compare National Bank’s managed options with robo-advisors and other discount brokerages.

Explore NBC investment options

Registered retirement savings plan (RRSP).
Tax-free savings account (TFSA).
Registered education savings plan (RESP).
Registered disability savings plan (RDSP).
First home savings account (FHSA).
Registered retirement income fund (RRIF).
Locked-in retirement income account (LIRA).
Life income funds (LIF).
Guaranteed investment certificates (GICs).
Registered and non-registered Cash Advantage Solution.
Mutual funds, managed portfolios and exchange-traded funds (ETFs).
National Bank Direct Brokerage accounts.

Other National Bank of Canada services

🤓 OUR TAKE

National Bank is part of Canada's Big Six, but its direct branch and ATM network is smaller than those of some other major banks.

Its presence expanded after the acquisition of Canadian Western Bank on February 3, 2025, and customers can also access nearly 2,500 ABMs in THE EXCHANGE network across Canada at no additional cost.

Explore other services

Other services you can find at National Bank of Canada include:

Guaranteed investment certificates (GICs).
Managed portfolios, mutual funds and exchange-traded funds (ETFs).
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:

Fees you should know about

Non-sufficient funds fee: $10, generally limited to one NSF fee per account within two business days.
Overdraft-related fees: $5 per transaction that creates or increases an overdraft; overdraft-protection transfers cost $5 per day.
Paper statements: $3.50 per month per account for some accounts.
Branch withdrawal, transfer or bill-payment withdrawal: $2.50 per transaction for some accounts.
Transfer a registered plan to another financial institution: $150, plus taxes where applicable.
High Interest Savings Account Interac e-Transfer: $1.25.
High Interest Savings Account debit transactions: one free eligible transaction per month; many branch or electronic debit transactions cost $5.

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: 3,300+ Branches: 400+	Yes, by the Canada Deposit Insurance Corporation.
TD Bank	ATMs: 3,300+ Branches: 1,000+	Yes, by the Canada Deposit Insurance Corporation.
BMO	ATMs: 1,400+ Branches: almost 900	Yes, by the Canada Deposit Insurance Corporation.
CIBC	ATMs: 1,100+ Branches/banking centres: 900+	Yes, by the Canada Deposit Insurance Corporation.
Scotiabank	ATMs: 3,600+ Branches: 900+	Yes, by the Canada Deposit Insurance Corporation.

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

Frequently asked questions

Is the National Bank of Canada only in Quebec?

No. Most of the National Bank of Canada’s branches have historically been concentrated in Quebec, but the bank serves customers across Canada. National Bank’s 2025 acquisition of Canadian Western Bank also expanded its presence in Western Canada. National Bank customers can access their accounts online, through the mobile app and at eligible ABMs in THE EXCHANGE network across Canada.

Is the National Bank of Canada owned by the government?

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

Is National Bank buying Laurentian Bank?

Not exactly. National Bank is not buying all of Laurentian Bank. Instead, National Bank is expected to acquire Laurentian Bank’s retail and SME banking portfolios, while Fairstone Bank is expected to acquire Laurentian Bank.

National Bank has already completed the purchase of Laurentian Bank’s syndicated loan portfolio. The retail and SME banking transaction is expected to move Laurentian customers in those businesses to National Bank once the deal closes.

For existing National Bank customers, the deal mostly matters as another sign that National Bank is expanding its presence in Quebec and in business banking. Laurentian customers should watch for direct communication from Laurentian, National Bank or Fairstone about what happens to their accounts.