National Bank of Canada Review
National Bank of Canada overview
🏦 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
Canadians, especially those in Quebec, who prefer a big bank that offers a wide variety of account options.
The National Bank of Canada’s long history and big bank reputation mean that it can offer a range 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 and Ontario, as well as a few major cities in western provinces. 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
There’s plenty to like about 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
- Ability to bank online or in-person.
- A wide variety of chequing account options.
- Discounted services available for customers of certain ages, newcomers to Canada and professionals in certain industries, such as healthcare or IT.
Cons
- Only one savings account.
- Fewer branch locations outside of Quebec.
National Bank and Fairstone Bank are acquiring Laurentian Bank in a nearly $2-billion split deal.
Find out who gets what, how it affects you, and what to do now.
National Bank of Canada full review
IIn 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, NBC is one of the country’s largest financial institutions, with more than 32,000 employees and $552 billion in assets as of July 31, 2025.
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 390 branches and over 950 banking machines across 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 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 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.
🚩 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 and 4.7 stars on the Google Play Store.
1.3 out of 5 possible stars, based on over 120 customer reviews on Trustpilot.
What Reddit users are saying
Fewer Reddit users commented on the National Bank and its services. Some recent discussions focused on how the 2025 acquisition of Canadian Western Bank will expand its physical network and product catalogue.
Reddit discussions include:
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.
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:
NerdWallet's take
NerdWallet's take- The offer for students includes a free account, a Platinum Mastercard credit card and a line of credit with personalized benefits based on your field of study and everyday needs.
- 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
Product details- The National Bank’s Offer for students includes:
- A chequing account with no fixed monthly fees and chequing privileges.
- A Platinum Mastercard credit card, subject to credit approval by the National Bank of Canada. Certain conditions apply.
- A personalized line of credit, subject to credit approval by National Bank. Certain conditions apply.
- Fields of study: CEGEP, university and specialized training include healthcare, engineering, teaching, administration, law, accounting and business.
- Manage your accounts whenever and wherever you want with the National Bank mobile app, a simple digital experience is at your fingertips.
- Access to National Bank’s team of expert advisors, who can offer you financial solutions throughout every stage of life.
- With the offer for students, get personalized solutions that help you save money and make your daily life easier.
- To get the offer, make an appointment at the branch of your choice.
- Eligible deposits are covered by CDIC.
NerdWallet's take
NerdWallet's take- Cash Advantage Solution offers tiered interest rates that top up your savings as your balance grows.
- 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
Product details- The Cash Advantage Solution is an investment that must be held in a registered or non-registered account to grow your funds.
- Eligible registered accounts include registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs) and first home savings accounts (FHSAs).
- The minimum investment required is $1.
- Earns incremental interest rates depending on the total amount of the deposit.
- Interest is calculated at the end of each day on the total daily balance. It is compounded and paid on the last business day of each month.
- Eligible for Canada Deposit Insurance Corporation (CDIC) or Autorité des marchés financiers (AMF) deposit insurance based on the application conditions.
National Bank of Canada saving account
🤓 OUR TAKE
The National Bank of Canada's only savings account offers a base interest rate of 0.75%, usually without any new account offers or promotional rates. If you have specific savings needs, you’ll find a wider selection elsewhere, but if you're just looking for a basic account, this could be a solid choice..
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
The National Bank of Canada’s chequing accounts carry monthly fees that vary based on the account holder's age and account balance minimums, usually around $5,000. Students and people who work in certain professions can also enjoy low- or no-fee transactions and perks. These chequing accounts, however, rarely come with new account offers comparable to other Big Six banks.
Explore NBC chequing accounts
Minimalist chequing account: Up to 12 transactions a month and free Interac e-transfers.
Connected chequing account: Unlimited digital transactions, free Interac e-transfers and up to $30 off credit card fees. The monthly fee of $15.95 is waived with a minimum balance of $4,500.
Total chequing account: Unlimited digital and branch transactions, unlimited Interac e-transfers, up to $150 off credit card fees and more. The monthly fee of $28.95 is waived with a minimum balance of $6,000.
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
🤓 OUR TAKE
All the National Bank credit cards are Mastercard-branded, and most charge a 20.99% purchase interest rate. New cardholders get welcome bonuses, but they tend to be less generous than those from major banks.
Explore NBC credit cards
The National Bank of Canada offers a variety of branded Mastercard options, including:
mycredit Mastercard.
Syncro Mastercard.
Allure Mastercard.
Platinum Mastercard.
National Bank of Canada investing accounts
🤓 OUR TAKE
National Bank’s registered accounts earn 0.65% to 2.75%, depending on the balance, and come with standard admin fees. The bank offers managed portfolios, as well as a Direct Brokerage that has commission-free online trading, but charges fees for trades that require agent assistance. Investors seeking long-term growth for lower fees may find better value at low-cost robo-advisors or discount brokerages.
Explore NBC investment options
Registered and non-registered Cash Advantage Solution.
Other National Bank of Canada services
🤓 OUR TAKE
National Bank is part of Canada's Big Six, but its branch and ATM network are a bit smaller than those of the other big banks. However, they have increased slightly since the acquisition of Canadian Western Bank on February 3, 2025.
Explore other services
Other services you can find at National Bank of Canada include:
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.
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: $45.
Overdraft fee: $5 per transaction or per day.
Paper 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.
How the National Bank of Canada compares to other Big Banks
ATMS AND BRANCHES | ARE DEPOSITS INSURED? | |
|---|---|---|
ATMs: 4,000+ Branches: 1,200+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 950+ Branches: 390+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 2,500+ Branches: 1,000+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 5,700+ Branches: 1,800+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 3,000+ Branches: 900+ | Yes, by the Canada Deposit Insurance Corporation. | |
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.
Frequently asked questions
Is the National Bank of Canada only in Quebec?
Most of the National Bank of Canada’s branch locations are concentrated in Quebec. However, the bank serves all provinces and has affiliate branches and even has ATMs in parts of the U.S., such as Florida.
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.
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