Chequing account · National Bank of Canada
The Minimalist: fees and true cost
National Bank of Canada’s The Minimalist charges $3.95/mo, no balance waiver, with branch: 0 · self-serve: 18 transactions. For our “Everyday” example that comes to $446 a year, #27 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $77 | Monthly fee $3.95; extra transactions $2.50/mo | 8 of 33 |
| Everyday Household account, a few e-Transfers | $446 | Monthly fee $3.95; extra transactions $31.25/mo | 27 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $1,010 | Monthly fee $3.95; extra transactions $76.25/mo | 29 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $197 | Monthly fee $3.95; extra transactions $12.50/mo | 10 of 26 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $3.95/mo, no balance waiver |
| Included transactions | Branch: 0 · self-serve: 18 |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | $1.25 |
| Online transfer between your accounts | $1.25 |
| Own-bank ATM withdrawal | $1.25 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | Not stated |
| ATM withdrawal in other countries | Not stated |
| Debit purchase in the United States | Not stated |
| In-branch withdrawal | $2.50 |
| Bill payment in branch | $2.00 |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | Not stated |
| Overdraft protection, per use | Not stated |
| Overdraft interest | Not stated |
Notes from the institution
18 electronic transactions a month (ABM, merchant, online banking and call centre); Interac e-Transfers count toward them. No fixed monthly fee for students 24 and under, people under 18, seniors receiving the GIS, RDSP beneficiaries 18 and over and Indigenous Peoples (low-cost commitment). The fee for electronic transactions beyond 18 is charged at the general pricing in the Fee Guide and isn't stated as a single figure, so it isn't priced here.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Students aged 24 and under (also all 18-24 year olds) | No monthly fee | National Bank of Canada |
| People under 18 | No monthly fee | National Bank of Canada |
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- Neo Chequing account (Essentials) (Neo Financial) — $0 a year
Other chequing accounts at National Bank of Canada
- The Connected — $15.95/mo, or $0 with a $4,500 minimum balance
- The Total — $28.95/mo, or $0 with a $6,000 minimum balance
Source: National Bank Fee Guide for Personal Banking Solutions (effective February 15, 2026), retrieved November 1, 2026. This institution isn’t listed in FCAC’s Account Comparison Tool. · National Bank of Canada’s product page
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