Does National Bank have a no-fee chequing account?

Yes. The Digital Banking Account has no monthly fee and no minimum balance. It includes unlimited Interac e-Transfers, unlimited debit transactions, and mobile cheque deposit. Branch transactions incur additional charges — this account is designed for digital use. It is directly competitive with Simplii Financial and Tangerine's no-fee accounts.

What is the monthly fee for National Bank chequing?

National Bank has four chequing tiers: Digital Banking Account ($0, no minimum), The Account ($4.95/month, waived at $1,500 daily balance), The Account Plus ($14.95/month, waived at $3,000), and the All-In-One Account ($26.95/month, waived at $5,000). The $4.95 Account with the $1,500 waiver is among the most accessible fee-waiver thresholds at any full-service Canadian bank.

What is the NSF fee at National Bank?

National Bank charges $45 per NSF (non-sufficient funds) item. This applies when a cheque, pre-authorized debit, or other transaction is returned because the account balance is insufficient. Overdraft protection is available and links to a credit line to cover shortfalls up to the approved limit.

Does National Bank charge ATM fees?

No fee at National Bank's own ATMs (~900 locations, primarily in Quebec). National Bank is also part of THE EXCHANGE Network, giving fee-free access to 3,000+ additional ATMs across Canada. Out-of-network ATM withdrawals incur a $1.50–$2.00 surcharge plus any fee charged by the ATM operator. International ATM withdrawals incur a foreign exchange fee plus operator charges.

Are there fees for Interac e-Transfers at National Bank?

Interac e-Transfers are free and unlimited on the Digital Banking Account and The Account Plus. The basic Account ($4.95/month) includes one free e-Transfer per month — additional e-Transfers are $1.00 each on that tier.

What is the National Bank foreign exchange fee?

National Bank charges a 2.5% foreign exchange fee on debit card transactions in foreign currencies. Credit card FX fees depend on the specific card — the Syncro Mastercard charges 2.5%, which is standard for Canadian credit cards. NBDB (National Bank Direct Brokerage) supports USD accounts that avoid FX conversion on each US trade once funds are held in USD.

National Bank Fees 2026 | Monthly Fees, NSF & ATM Charges

National Bank’s fee structure is among the most competitive of Canada’s six largest banks. The no-fee Digital Banking Account eliminates monthly charges entirely for digital-first users. The basic Account at $4.95/month waives at a $1,500 balance — a lower threshold than comparable accounts at the Big Five.

Chequing Account Monthly Fees

Account	Monthly Fee	Fee Waiver Balance	Transactions	e-Transfers
Digital Banking Account	$0	None required	Unlimited	Unlimited
The Account	$4.95	$1,500 daily balance	12/month	1 free; $1.00 each after
The Account Plus	$14.95	$3,000 daily balance	Unlimited	Unlimited
All-In-One Account	$26.95	$5,000 daily balance	Unlimited	Unlimited + premium perks

Fee Waiver Comparison: National Bank vs Big Five

Bank	Basic Chequing Fee	Waiver Balance
National Bank (The Account)	$4.95	$1,500
BMO (Plus)	$12.95	$3,000
RBC (Signature No Limit)	$16.95	Value Program bundling*
TD (Unlimited Chequing)	$17.95	$4,000
CIBC (Smart Account)	$16.95	$4,000
Scotiabank (Preferred)	$16.95	$4,000

National Bank’s $4.95 fee and $1,500 waiver threshold are the lowest of any major full-service Canadian bank. For a household that maintains $1,500 in chequing, the effective cost is zero.

*RBC does not use a balance-waiver threshold on Signature No Limit Banking; instead, the fee is reduced (as low as $4/month) by bundling multiple RBC products under its Value Program.

NSF and Overdraft Fees

Fee	Amount
NSF (returned item)	$45
Overdraft protection (per occurrence, if no credit line)	$5.00
Overdraft interest (if overdraft credit line)	Prime + % (per agreement)

An NSF occurs when a transaction exceeds the account balance and overdraft protection is not in place or is exhausted. The $45 fee is standard across Canadian banks (Simplii: $45; Tangerine: $45; RBC: $45).

ATM Fees

ATM Type	Fee
National Bank ATMs (900+)	$0
THE EXCHANGE Network (3,000+)	$0
Other Canadian ATMs (non-network)	$1.50–$2.00 + operator surcharge
International ATMs	$5.00 + 2.5% FX

THE EXCHANGE Network covers ATMs at many credit unions, some retailers, and other financial institutions across Canada. Between National Bank’s own ATMs and THE EXCHANGE, most Quebec residents will have easy access to free cash withdrawals. Outside Quebec, THE EXCHANGE Network provides coverage, though finding a specific ATM may require the app.

Other Fees

Fee	Amount
Stop payment (cheque)	$12.50
Certification of cheque	$15.00
Paper statement	$2.00/month
Wire transfer (outgoing, domestic)	$20.00
Wire transfer (outgoing, international)	$25.00–$40.00
Debit card FX fee	2.5%

NBDB (Investing) Fees

For National Bank Direct Brokerage fees, see the NBDB overview.

Trade Type	Fee
Canadian stocks and ETFs	$0
US stocks and ETFs	$0
Options	$6.25 + $1.25/contract
Account maintenance	$0