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Frequently Asked Questions

Accounts and banking services

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Most frequently asked

Tips for achieving your goals

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General

What is the difference between a chequing and a savings account?

You can use your chequing account for day-to-day transactions like making bill payments and transferring money to other people or accounts. A chequing account comes with cheques and a debit card. You can access your chequing account online, through the mobile app and by calling our telephone banking service.

A savings account is an account that earns interest. It’s a great way to save up for a specific goal, like a vacation or a new car, or to ensure you have an emergency fund available when you need it. You can access your savings account online, through the mobile app and by calling our telephone banking service.

Explore our chequing and savings accounts.

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Tip

Enjoy savings through our offers for professionalsstudents and newcomers to Canada.

You could save with our offer for new clients, one of our offers for professionals or students, or our offer for newcomers to Canada.

How do I decide which account is right for me?

You can use our account selector to find the right bank account for you.

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Tip

Tired of paying fees for going over your monthly transaction limit? The The ConnectedMC and The TotalMC chequing accounts come with several types of transactions in an unlimited number.

Are there special offers available to help me save on banking fees?

Yes. Find out if you're eligible for one of our exclusive offers:

How do joint accounts work?

You can open a joint account for shared expenses such as groceries and mortgage payments to help simplify your household finances. You can also save for a specific goal you're working towards, like a vacation. Anyone designated as an account holder can carry out transactions in this account.

To open a joint account, make an appointment at the branch.

Interested in learning more? Check out our page about joint accounts.

When I deposit money in my accounts, are the funds insured?

National Bank is a member of the Canada Deposit Insurance Corporation (CDIC). This means that amounts between CAD 1 and CAD 100,000 deposited to your chequing or savings account are insured. Term deposits are also insured.1

Use CDIC's calculator to find out how much of your deposit is insured.

Managing my account

How do I open a chequing account?

To open an account, make an appointment at a branch of your choice.

How do I change or cancel a banking package?

Thanks to National Bank Online or the National Bank Mobile App for smartphones and tablets, you can now change or cancel your banking package. Find out more by reading our Online Banking FAQ.

Use our account selector to find the banking package that best suits your needs.

How do I close my account?

You can close your account at any National Bank branch.

How do I order cheques?

You can place an order by signing in to online banking. Browse a range of different designs and covers and compare prices. For step-by-step instructions, see our Online Banking FAQ.

You can also order cheques by calling us at 1-888-483-5628.

Can I open an account for my child or a minor in my care?

Yes. Just visit one of our branches.

Children under 6 years of age

  • The child does not need to be present.
  • The parent or legal guardian will have to show two pieces of ID (one with a photo).

Children aged 7 to 12

  • The minor must be present when you make the request.
  • The parent or guardian will have to show two pieces of ID (one with a photo).

Children aged 13 to 17

  • The parent or legal guardian will have to show two pieces of ID (one with a photo).
  • If the child's identity cannot be verified, we will need the complete name and address of the parent or guardian and confirmation of the child's name and date or birth from a third party.
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Tip

Want to start planning for your child's future? Open an RESP to save for their postsecondary education and watch your investments grow tax-free.

What terms and conditions apply to my account?

To review the terms and conditions for transaction, margin and investment accounts, download the Contract governing personal deposit and investment accounts brochure [PDF].

Can I authorize someone else to manage my account?

Yes. You can appoint another person to act on your behalf through a power of attorney. For more information, visit our power of attorney webpage.

Debit cards

How do I get a debit card?

You will receive a debit card when you open a chequing account. You'll be able to set your personal Identification number (PIN) at the branch ABM. If there is no ABM at your branch, you will receive your card and PIN by mail.

What is the withdrawal limit for my debit card?

Debit card payments using your PIN

The daily limit for debit card transactions is $2,000. Contactless payments are included in the daily limit.

Interac Flash® contactless payments

The transaction limit for contactless payments is $100.

Withdrawals using your card

You can withdraw up to the maximum limit set for you by the Bank. For more information, call 1-888-483-5628 or contact your National Bank branch.

Can I change the withdrawal limit for my debit card?

Yes. You can change the limit for purchases and ABM withdrawals, up to the maximum permitted by the Bank. You can also set different limits for within Canada and abroad. You can change these settings under your online banking profile. Find out more by reading our Online Banking FAQ.

These changes will not affect the limits on any other transactions carried out in your bank account, such as money transfers and cheque payments.

If you have a joint account, you can only change the limit for your own debit card. Other account holders will not be affected.

When I deposit a cheque at an ABM, I can only access a portion of the funds. Why?

When you receive your card, it will have a rating based on your file. This rating determines the portion of a deposit that you can immediately withdraw. To find out your rating, contact our telephone banking service at 1‑888‑438‑5628 or your National Bank branch.

How can I increase the withdrawal limits on my debit card?

You can request to increase your limits by calling our telephone banking service or by signing in to online banking and sending us an email. Find out more by reading our Online Bank FAQ. A credit check is required.

Can the Bank authorize a purchase that is over the $2,000 daily withdrawal limit on my card?

The $2,000 limit on purchases made with a debit card applies to most National Bank clients. For larger purchases, consider using a line of credit or Mastercard credit card (depending on the approved limit). If you have a joint account, you can also use the debit card for this account.

I forgot my PIN. How do I get a new one?

Visit a National Bank branch with your card and two pieces of ID (including one photo ID).

Can I change my PIN without changing my card number?

Yes. You can change your PIN at a National Bank ABM by selecting “Change my PIN” from the main menu.

I just received a new bank card. Can I use the same PIN and login information for online banking and the mobile app?

You can use the same PIN and login information for the various banking platforms.

Your new card will provide access to the same accounts, and your withdrawal and purchase limits will be the same.

What is Interac Flash® technology and how does it work?

Your new debit card is equipped with Interac Flash® technology, allowing you to pay retailers with a simple tap of your card.

Wherever the Interac Flash® logo is displayed, simply hold your debit card up to the reader—no more entering your PIN!

Need more info? Find out more.

Is my debit card automatically equipped with Interac Flash® technology?

Effective March 5, 2018, all new debit cards will be equipped with Interac Flash®. If you already have a National Bank debit card, you’ll receive your new, Interac Flash®-enabled debit card by April 2019.

Your new card will be active as soon as you receive it, and all the settings on your old card will be transferred automatically to your new one. The first time you use your card to make a payment, you'll have to insert it in the terminal and enter your PIN.

National Bank online

What new features are being added to National Bank's online banking platform?

In addition to your day-to-day banking, you will be able to check your account balances at other banks, track your expenses by category and view a summary of your finances.

With our bill payment (Send money) and accelerated transfer features (Quick pay), carrying out transactions is faster and more convenient than ever.

Some of these new features will only be available through online banking, not the mobile app.

Are all the new features currently available?

At the time of publication, the final version of our online banking platform is almost ready, but some features are not yet available. In the meantime, you can still access the old platform.

Why is National Bank changing its online services?

To make things simpler for you! The new platform will make day-to-day banking quicker and easier. You can manage your finances more effectively with new features that let you track your expenses by category and view all your Canadian bank accounts.

Can I still use the old version of the online banking site?

Yes. You will be able to access the old version of our online banking website until the new one has been finalized.

Will I be able to sign up for the new online bank a later date, or do I have to do it now?

Yes. Throughout 2018, we will be sending out emails to clients in waves, inviting them to sign up for online banking and create a new profile. Eventually, all our clients will be able to access this new service.

Why haven't I received the email inviting me to sign up for the new website? A friend of mine is already using it.

This could be due to a number of reasons.

  • We may not have sent you an email yet since we're granting access to the new platform in waves. You should be receiving the email in the coming weeks.
  • Check your spam folder—the email may have been categorized as junk mail by mistake.
  • Make sure your email address is correct in your online banking profile, in the Profile/Preferences section.

How do I login to the new platform for the first time?

Once you receive an invitation, go to the regular online banking login page and open a session. Follow the steps to create a new profile.

Technical issues? Check out our Online Bank FAQ.

How do I sign in to the new platform once I've create a profile?

Shortly, you'll see a link to the new platform on the regular online banking login page. Meanwhile, use Log into my new online bank

When I signed into the new online banking platform, a new screen appeared asking me to create a profile. Why?

National Bank has developed a new transaction platform which will be gradually rolled out to clients in early 2018. Eventually, all our clients will be able to access this new service.

Why do I have to sign in using my email address now?

Your email address is a secure way to sign in and easier to remember than a card number.

Why didn't my online transaction go through?

For help, read our My online bank FAQ.

What is the new feature that lets me see all my accounts?

Your online banking summary will display all your bank accounts—including accounts at other financial institutions—for a clearer picture of your finances.

What is the new feature that shows expenses by category?

This new feature automatically organizes your expenses by category, giving you a clearer picture of your spending.

Online and mobile banking

Which account includes unlimited online and mobile transactions?

The The ConnectedMC and The TotalMC chequing accounts offer unlimited electronic transactions, whether through online banking, the mobile app or telephone banking, in stores, or at the ABM.

All our chequing and savings accounts can be accessed through online banking and the mobile app.

How do I carry out transactions through online banking or the mobile app?

Online banking

  1. Sign in to online banking.
  2. Follow the steps to open an account. A confirmation screen will appear once enrolment is complete.

Mobile banking

Open the mobile app on your tablet or phone and click on Sign up for Digital Banking. You will need your debit card, account number and branch number (transit). If you are already have an online banking profile, just enter your debit card number and password.

What devices can I use to do my banking?

You can use a PC or Apple Mac, Android smartphone or tablet, iPhone or iPad.

Not sure if your browser is compatible with our National Bank online platform? Check out our browsers page.

How do I install and use the National Bank app?

iPhone or iPad

Find the National Bank app in the Google Play Store and tap GET, then Install to download it.

Android smartphone or tablet

Find the National Bank app in the Google Play Store and tap Install to download it.

To sign up, open the application and select Become a client. You will need your debit card, account number and branch number (transit).

If you've already signed up for National Bank online, tap Sign in and enter your debit card number and password.

What transactions can I carry out online or through the mobile app?

You can do most of your day-to-day banking online, including:

  • Paying your bills
  • Transferring funds between accounts
  • Transferring funds to other National Bank clients
  • Sending Interac e-Transfers
  • Viewing your account balance and transaction history
  • Ordering cheques
  • Viewing your National Bank Mastercard account
  • Ordering foreign currency

Visit the Banking Services page for more information about online and mobile transactions.

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Tip

Can't make it to an ABM to deposit your cheque? We offer mobile cheque deposits.

Will the balance on my accounts be updated automatically?

The balances shown online for your National Bank accounts, Mastercard credit cards, loans, lines of credit and investments are updated in real time. For example, if you pay a bill through online banking, your online account balance will reflect the payment automatically (unless the transaction is postdated).

You will always be able to see your current balance. Please note that while your Mastercard balance is also updated automatically, the list of transactions is not.

Can I do my banking online whenever I want? Will transactions be processed right away?

Online banking is available 24/7.

Bill payments and transfers between accounts or to another person submitted before 9:00 p.m. (ET) on business days will be processed the same day. Transactions submitted after 9:00 p.m. will be processed the next business day.

Transactions submitted on weekends or holidays will be processed the next business day.

Postdated transactions will be processed early in the morning on the specified date.

Apple Pay and Google Pay

How much does it cost to use Apple Pay or Google Pay?

These services are free and National Bank does not charge anything to use them. Depending on your service provider, you may be charged data usage or other fees.

How do I use Apple Pay or Google Pay? Do I need to install the app on my phone?

Apple Pay

Apple Wallet is preinstalled on all eligible Apple devices. You simply have to install the latest version of the National Bank mobile app on your iPhone or iPad.

With Apple Watch, you will need to use the iPhone linked to your watch to add your card. After that, you won't need the iPhone to make payments.

Google Pay

To make contactless payments using an Android phone, install the Google Pay app from the Google Play Store and make sure you have the latest version of the National Bank app.

How do I add my National Bank Mastercard® credit card to Apple Pay/Google Pay?

Apple Pay

  1. Open the Wallet app
  2. Sign in to iCloud
  3. Tap + in the top right-hand corner of the screen
  4. Follow the instructions

Want to make your Mastercard credit card your default card? Open Wallet, drag the Mastercard credit card to the front of your cards, or tap on Default Card and choose the Mastercard credit card.

To add your card to Apple Pay for your Apple Watch:

  1. Open the Watch app on your iPhone and go to the My Watch tab.
  2. Tap Wallet & Apple Pay.
  3. Tap Add Credit or Debit Card. If you're asked to add the card to iTunes, enter its security code.
  4. Tap Next, and accept the terms and conditions.
  5. The Bank may ask for additional information to verify your card. When you have the information, go back to Wallet & Apple Pay and tap your card.
  6. After the Bank has verified your card, tap Next and start using Apple Pay
     

Google Pay

  1. Open the Google Pay app
  2. Tap + in the bottom right-hand corner of the screen
  3. Follow the instructions

The first card you add to Google Pay will be your default card. If you want to change it:

  1. Open the Google Pay app
  2. Double-tap the card you want to be the default, then tap Set as default card.
  3. Alternatively, drag the card you want to change to the default card to the top of the app's home screen
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Tip

Don't have a credit card yet? Explore the great features of our Mastercard credit cards.

How do I make payments using Apple Pay or Google Pay?

It's easy! For transactions of $100 or less, simply press your finger on the Touch ID sensor (or unlock your Android phone) and hold your phone against the terminal. For transactions over $100, you must use your plastic credit card and enter your PIN.

To pay with an Apple Watch, double-click the side button and hold the watch screen against the terminal. For transactions over $100, you must use your plastic credit card and enter your PIN.

What will happen with Apple Pay or Google Pay if my phone or credit card is lost or stolen?

Just call us at 1-888-622-2783.

If your credit card is lost or stolen, your plastic card will be replaced. After your call, the lost card will be deactivated so that no transactions can be carried out until you activate your new card. You don't need to make any changes on your phone—National Bank will take care of it! Remember that you're protected by National Bank's Peace of Mind Guarantee2 and Mastercard's Zero Liability policy.3

If your phone is lost or stolen, report it immediately by calling 1-888-622-2783.

How do I return items purchased with Apple Pay or Google Pay?

The merchant will issue the refund directly to your phone, so you'll need to bring the phone you used to make the purchase as well as your receipt.

Do I need to do anything when my credit card is renewed?

When you activate your new card, the app will be updated automatically.

If your card has expired or been replaced, you won't be able to use contactless payments until you activate your new card. The card information will be automatically be updated in the app.

If your new card is a different type of card or has a different number, you will need to add it to your Apple Wallet or Google Pay app.

What happens if I get a new Android phone/iPhone/Apple Watch?

Simply remove your credit cards from the Wallet or Google Pay app on your old phone, then add them to your new one. If you've already replaced your phone, an advisor can do this for you. Just call us at 1-888-622-2783.

What if I no longer want to use Apple Pay or Google Pay?

Simply delete your cards from the app. Your physical cards won't be affected.

Apple Pay

In the app, select the card you want to remove and tap Remove Card.

Google Pay

Next to the payment method you want to delete, select Remove (in red).

Can I add my debit card to Apple Pay or Google Pay?

We plan to offer this option in the near future so you can take full advantage of contactless payments. Check our website regularly to find out when this option will be available.

Why Google Pay? What happened to Android Pay?

Google Pay is a new name and look for existing Google payment products. You’ll still be able to pay in stores and online with Google Pay, as you did with Android Pay.

Transactions

Bill payments

How do I make bill payments?

We offer several options for bill payments:

How long does it take for an online payment to go through?

Bill payments are processed in 1 to 2 business days. You should take processing times into account when paying your bills to avoid late fees.

Sending money

How do I send money to another person?

You can send money directly to another National Bank client or send an Interac e-Transfer to someone with an account at a participating Canadian bank. You can transfer money through online banking or the National Bank app. Find out more by reading our Online Banking FAQ.

Please note that until January 2018, fees may apply when you send Interac e-Transfers to clients with other financial institutions.

Can I transfer funds to an account at another financial institution through an Interac e-Transfer?

Yes. You can send an Interac e-Transfer to anyone who has an account at a participating financial institution in Canada. You can send e-Transfers through online banking or the National Bank app. Fees may apply.

How do I transfer funds using my phone?

Interac e-Transfer

  • Sign in to your account.
  • Tap the menu icon in the upper left-hand corner of the screen.
  • Select Transfers and payments, then Transfer to another person.
  • In the Transfer to section, tap New recipient.
  • Enter the recipient's information to add them to the list.
  • Complete the transfer.

Transfers to other National Bank clients

  • Sign in to your account.
  • Tap the menu icon in the upper left-hand corner of the screen.
  • Select Transfers and payments, then Transfer to another person.
  • Under Transfer to, select Add a recipient.
  • Enter the recipient's information to add them to the list.
  • Carry out the transfer.

How do I transfer funds using my tablet?

Interac e-Transfer

  • Sign in to your account.
  • Tap the menu icon in the upper left-hand corner of the screen.
  • Select Transfers and payments, then Transfer funds.
  • Select To another person.
  • Select Add a recipient.
  • Enter the recipient's information to add them to the list.
  • Complete the transfer.

Transfers to other National Bank clients

  • Sign in to your account.
  • Tap the menu icon in the upper left-hand corner of the screen.
  • Select Transfers and payments, then Transfer funds.
  • Select To another person.
  • Select Add a recipient.
  • Enter the recipient's information to add them to the list.
  • Complete the transfer.

What are the daily and weekly limits for transfers?

There is a $3,000 daily limit and $14,000 weekly limit for transfers to other people.

Does the person I'm sending money to need to be signed up for their bank's online services?

No, the recipient does not need to be signed up for online or mobile banking.

Can I reverse a transfer to another person?

Interac e-Transfer

You can cancel a transfer until the recipient accepts it. When you cancel a transfer, the funds will be returned to your account. Note that the $1 transfer fee will not be refunded. Find out more by reading our Online Banking FAQ.

Transfers to other National Bank clients

Unfortunately, National Bank cannot cancel or correct payments once a transfer is submitted.

Will the recipient receive a notification about the transfer?

Interac e-Transfer

The recipient will receive a notification by email or text when the Interac e-Transfer has been sent.

Transfers to other National Bank clients

The recipient will receive a notification if you include a message with the transfer and you have entered the recipient's email address.

What information do I need to create a recipient before sending a transfer?

Interac e-Transfers

  • Recipient's full name
  • Recipient's email address and/or telephone number

Transfers to other National Bank clients

  • Recipient's full name
  • Recipient's bank account number
  • Recipient's transit number
  • Recipient's email address (if you want them to receive a notification)

Is my transfer limit the same as my ABM withdrawal limit?

No. The amount of money you can withdraw from an ABM depends on your rating. There is a $3,000 daily limit and $14,000 weekly limit on transfers to other people.

Cheque imaging

What is cheque imaging?

This service lets you see the front and back of cheques in CAD and USD deposited after February 1, 2011.

Travel

I want to send money abroad. What information do I need?

You can send a wire transfer from any branch. Simply provide the recipient’s bank account, transit and institution number, the address of the receiving branch and the SWIFT code.

Can I use my debit card to make withdrawals at an ABM when I travel abroad?

We belong to various networks that let you use your debit card when you travel.

Within Canada

  • Use your debit card at any ABM with the Interac symbol. The network charges a $1.50 fee in addition to any fees charged by the other financial institution. You can also use your debit card to pay at stores anywhere in Canada.
  • You can access your accounts free of charge when you use ABMs with the symbol for THE EXCHANGE network. You will not have to pay a network fee or fees from the other financial institution.

Outside of Canada

  • You can use your debit card at merchants that belong to the NYCE and Maestro networks worldwide.
  • You can also make a withdrawal from your chequing or savings account at ABMs with the symbol for the Cirrus network. A $4 fee is applied by Cirrus, along with any fees charged by the other financial institution.

Will my smart card work anywhere in the world?

Smart card technology has not been adopted in every part of the world, but you will always be able to make purchases using the magnetic stripe on your card.

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Tip

Our travel credit cards include comprehensive travel insurance and a travel rewards plan.

Can I use my debit card to access my USD account?

No. Your debit card can only be used with CAD accounts.

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Tip

Travelling abroad? Be sure to read all our tips so you can make the most of your trip. 

Can I order foreign currency online?

Yes. You can order the following foreign currencies online or using the National Bank app:

  • U.S. dollars (USD)
  • Euro (EUR)
  • Pound sterling (GBP)
  • Swiss franc (CHF)
  • Mexican peso (MXN)
  • Japanese yen (JPY)
  • Chinese yuan (CNY)
  • Australian dollars (AUD)

If the currency you're looking for is not on this list, you can place an order at the branch.

You can have your order delivered to the branch of your choice or a Canada Post location using their Xpresspost™ service.

Want to check today's exchange rates? Visit the exchange rates page.

Is there is a limit for online foreign currency orders?

The daily limit for online foreign currency orders (delivered to a branch or post office) is CAD 2,000.

The cumulative weekly limit for orders (delivered to a branch or post office) is CAD 5,000.

Security

My ID and chequebook were stolen. What should I do?

Call our Customer Service immediately at 1‑888‑483‑5628 (toll-free) or 514-394-5555. We can place restrictions on your account to protect it.

I lost my debit card. What should I do?