National Bank at a Glance
| Feature |
Details |
| Full name |
National Bank of Canada (Banque Nationale du Canada) |
| Founded |
1859 |
| Headquarters |
Montreal, Quebec |
| Rank |
6th largest bank in Canada |
| Branches |
375+ (primarily Quebec, expanding nationally) |
| ATMs |
900+ |
| CDIC insured |
✅ Yes |
Why Consider National Bank
| Advantage |
Details |
| Commission-free trading |
NBDB offers $0 stock and ETF trades |
| Lower fees |
Often lower than Big 5 competitors |
| Strong in Quebec |
Best branch coverage in Quebec |
| Growing nationally |
Expanding presence across Canada |
| Full-service bank |
Branch access, mortgages, credit cards, investing |
Chequing Accounts
| Account |
Monthly Fee |
Fee Waiver |
Key Features |
| The Account |
$4.95 |
$1,500 balance |
12 transactions, 1 free Interac e-Transfer |
| The Account Plus |
$14.95 |
$3,000 balance |
Unlimited transactions, unlimited e-Transfers |
| All-In-One Account |
$26.95 |
$5,000 balance |
Premium perks, travel insurance |
| Digital Banking Account |
$0 |
None required |
Online-only, unlimited e-Transfers |
Digital Banking Account
National Bank’s no-fee digital account includes:
- No monthly fee
- Unlimited Interac e-Transfers
- No minimum balance
- Mobile deposit
- Apple Pay and Google Pay
Savings Accounts
| Account |
Interest Rate |
Minimum Balance |
| High Interest Savings |
2.50%* |
None |
| TFSA Savings |
2.50%* |
None |
| RRSP Savings |
2.50%* |
None |
*Rates as of March 2026. Promotional rates may be higher.
Comparison to Online Banks
| Bank |
Savings Rate |
| EQ Bank |
4.00%+ |
| Tangerine |
2.50–5.00% (promo) |
| National Bank |
2.50% |
| Big 5 average |
0.50–1.50% |
National Bank’s savings rates are better than most Big 5 banks but lower than dedicated online banks.
Credit Cards
| Card |
Annual Fee |
Key Benefit |
Best For |
| National Bank Syncro Mastercard |
$0 |
4% groceries, dining, recurring bills |
Everyday spending |
| National Bank World Elite Mastercard |
$150 |
Travel rewards, lounge access |
Frequent travelers |
| National Bank Cashback World Elite |
$99 |
2% unlimited cashback |
High spenders |
Syncro Mastercard Highlights
| Feature |
Details |
| Annual fee |
$0 |
| Earn rate |
4% on groceries, dining, recurring bills |
| Base earn |
1% on everything else |
| Redemption |
Cash back, statement credit |
| Income requirement |
None |
The Syncro Mastercard is one of Canada’s best no-fee cards for grocery and dining rewards.
National Bank Direct Brokerage (NBDB)
| Feature |
Details |
| Stock trading |
$0 commission |
| ETF trading |
$0 commission |
| US trading |
$0 commission |
| Options |
$6.25 + $1.25/contract |
| Minimum to open |
$0 |
| Account types |
TFSA, RRSP, FHSA, RESP, margin, cash |
NBDB vs Competitors
| Platform |
Canadian Stocks |
US Stocks |
Options |
| NBDB |
$0 |
$0 |
$6.25 + $1.25 |
| Wealthsimple Trade |
$0 |
$0* |
Not available |
| Questrade |
$4.95–$9.95 |
$4.95–$9.95 |
$9.95 + $1 |
| TD Direct Investing |
$9.99 |
$9.99 |
$9.99 + $1.25 |
*Wealthsimple charges 1.5% currency conversion on USD.
NBDB Advantages
| Feature |
Benefit |
| Full-featured platform |
Research, charts, screeners |
| Options trading |
Not available on Wealthsimple |
| No currency conversion fee |
USD accounts available |
| Margin accounts |
For advanced traders |
| Registered accounts |
TFSA, RRSP, FHSA, RESP |
Mortgages
| Product |
Current Rate* |
| 5-year fixed |
Competitive (check current rates) |
| 5-year variable |
Prime - discount |
| HELOC |
Prime + margin |
*Mortgage rates change frequently. Contact National Bank or a broker for current rates.
National Bank offers standard mortgage products. Rates are negotiable, especially through mortgage brokers.
GICs
| Term |
Current Rate* |
| 1 year |
4.00%+ |
| 3 year |
3.75%+ |
| 5 year |
3.50%+ |
*GIC rates as of March 2026. Check current rates before investing.
Mobile App and Online Banking
| Feature |
Rating |
| Mobile app |
Good (4.5+ stars) |
| Mobile deposit |
✅ Available |
| e-Transfer |
✅ Unlimited on some accounts |
| Bill payments |
✅ Available |
| Interac+ |
✅ Supported |
| Biometric login |
✅ Face ID, fingerprint |
Branch and ATM Access
| Region |
Branch Coverage |
| Quebec |
Excellent (300+ branches) |
| Ontario |
Good (major cities) |
| Western Canada |
Limited (major cities) |
| Atlantic Canada |
Very limited |
ATM Networks
| Network |
Access |
| National Bank ATMs |
900+ |
| THE EXCHANGE Network |
3,000+ additional |
| International |
Cirrus, Plus networks |
Who Should Bank with National Bank
| Profile |
Recommendation |
| Quebec residents |
✅ Excellent choice — best local coverage |
| Want commission-free trading |
✅ NBDB is competitive |
| Want Syncro card |
✅ Top no-fee card |
| Need extensive branches outside Quebec |
⚠️ Limited coverage |
| Want highest savings rates |
❌ Choose EQ Bank or online banks |
National Bank vs Big 5 Banks
| Feature |
National Bank |
Big 5 Average |
| Monthly fee (basic) |
$4.95 |
$4.00–$16.95 |
| Fee waiver threshold |
$1,500 |
$1,500–$4,000 |
| Trading commissions |
$0 |
$9.95–$9.99 |
| Savings rate |
2.50% |
0.50–1.50% |
| Branch coverage |
Quebec-focused |
National |
Pros and Cons
| Pros |
Cons |
| Commission-free trading (NBDB) |
Limited branches outside Quebec |
| Excellent no-fee credit card (Syncro) |
Savings rates below online banks |
| Lower fees than Big 5 |
Smaller ATM network |
| Strong mobile app |
Less brand recognition |
| Digital no-fee account |
Customer service in French primarily |
How to Open an Account
Online
- Visit National Bank website
- Choose account type
- Verify identity (may need to visit branch)
- Fund account
In-Branch
- Visit nearest branch
- Bring ID (2 pieces)
- Proof of address
- Initial deposit (often $0 minimum)
Customer Service
| Channel |
Availability |
| Phone |
1-888-483-5628 |
| In-branch |
375+ locations |
| Online chat |
Available |
| Social media |
Twitter, Facebook |
Service is available in English and French.
Key Takeaways
- National Bank is Canada’s 6th largest bank with strong Quebec presence
- NBDB offers commission-free trading competitive with Wealthsimple
- Syncro Mastercard is one of Canada’s best no-fee credit cards
- Monthly fees are lower or comparable to Big 5 banks
- Digital banking account has no monthly fees
- Limited branch access outside Quebec
- Good choice for Quebecers or those prioritizing commission-free trading