National Bank of Canada

National Bank of Canada is a Canadian bank, also known as Banque Nationale du Canada, that offers business account packages and foreign currency accounts. It has absorbed Canadian Western Bank through a merger.

Packages Three monthly packages are published: Digital at CAD 7, Hybrid at CAD 10 and Premium at CAD 100. The Digital package includes unlimited digital transactions and 12 outgoing Interac e-Transfers. Premium extends service to cash and assisted transactions, so it fits businesses that regularly visit branches.

Other accounts The bank also lists a USD account, other foreign currency accounts and a Business Investment Account. Mobile cheque deposits and Interac e-Transfer are part of the digital toolkit.

Deposit insurance Deposits are covered by the Canada Deposit Insurance Corporation up to CAD 100,000 per depositor per insured category at the institution. Eligible deposits in several currencies are aggregated within the relevant category, so holding both CAD and USD does not double the limit.

Who it suits The packages suit Canadian businesses that want to match pricing to their style of banking: digital-first firms can stay on the low-cost tier, while those handling cash can pay for assisted services. Businesses with international suppliers can use the foreign currency accounts to hold balances in other currencies. Detailed charges for items outside the packages should be confirmed with the bank.