Chequing account · National Bank of Canada
The Total: fees and true cost
National Bank of Canada’s The Total charges $28.95/mo, or $0 with a $6,000 minimum balance, with unlimited transactions. For our “Everyday” example that comes to $347 a year, #16 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 | $347 | Monthly fee $28.95 | 27 of 33 |
| Everyday Household account, a few e-Transfers | $347 | Monthly fee $28.95 | 16 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $347 | Monthly fee $28.95 | 16 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $347 | Monthly fee $28.95 | 20 of 26 |
Try your own numbers in the true-cost finder. Is keeping $6,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $28.95/mo, or $0 with a $6,000 minimum balance |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | No extra fee |
| 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 | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| 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
Unlimited electronic and in-branch transactions; use of the Interac and Cirrus networks, overdraft protection, bank drafts, stop payments and 100 personalized cheques included. $0 fixed monthly fee with a minimum daily balance of $6,000. Age-based prices and a $10 discount for eligible Mastercard holders are not reflected in the yearly cost.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| 60 years and older: $5.00/month discount (regular $28.95) | $23.95 | National Bank of Canada |
| 18-24 years old, including students: $15.95 discount | $13.00 | National Bank of Canada |
| 0-17 years old: $10.95 discount | $18.00 | 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 Minimalist — $3.95/mo, no balance waiver
- The Connected — $15.95/mo, or $0 with a $4,500 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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