Open a bank account in Canada
National Bank of Canada is one of the country’s six major banks and a trusted financial institution serving newcomers since 1859. With over 361 branches across the country and service available in 6 languages, they make it easy to start your Canadian banking journey with confidence.
Special offer for newcomers
Up to $600 Cashback*
Available from 90 days before your arrival and up to 5 years afterward
- $300 - Open a chequing account with direct deposit
- $100 - Sign up for an eligible credit card
- $100 - Activate systematic savings
- $100 - Set up pre-authorized mortgage payments
Promotion valid from November 5, 2025, to May 5, 2026. Terms and Conditions apply.
Why Choose National Bank of Canada
National Bank of Canada is one of Canada’s six largest banks, with a dynamic presence across key financial segments such as personal, business, and international banking. National Bank is committed to providing high-quality service to clients both in Canada and around the world, offering a wide range of products and services.
Built on trust
One of Canada’s top banks with over a century of established trust and security.
Award-winning
Recognized by MoneySense and Milesopedia for best newcomer banking services and credit cards.
Services for newcomers
Dedicated programs, multilingual support, and no Canadian credit history required.
Banking benefits for newcomers
No fixed monthly fees
Save up to $574.20 over 3 years with no monthly account fees for the first year, reduced fees in year 2 and 3.
Legal support
Get 12 months of free legal assistance for everyday concerns. Get 12 months of free legal assistance for everyday concerns through the available Assistance Network, available 7 days a week
Build credit history
Access credit cards designed for newcomers to help you build your Canadian credit history from day one.
Nationwide access
361+ branches across Canada and 2,071 ABMs, plus services available in 6 languages including French and English.
International banking
Transfer money internationally starting at $5.95, plus access funds abroad through partner ABM networks worldwide.
CDIC protected
Your deposits are protected by the Canada Deposit Insurance Corporation (CDIC), giving you peace of mind.
Who's eligible?
You qualify for the newcomer offer if you are:
- At least 18 years of age
- A permanent resident, temporary worker, or international student
- Applying from 90 days before arrival up to 5 years after arriving in Canada
- The sole user of the account (individual account only)
Just 2 simple steps to open your bank account
Make the most of our offer and get a bank account with no fixed monthly fee for 3 years as well as other benefits.
Find out if you're eligible by checking the criteria and following the steps below.
Open an account online
Fill out an online application form. You'll need the following:
- A Canadian phone number
- One of the following documents:
- A valid and eligible foreign passport
- A Canadian permanent resident card
- A Canadian driver's license
- A provincial or federal ID (except Quebec)
- A valid Quebec Health Insurance Card
Receive a confirmation email
Within a couple of days of your request, you'll receive a confirmation email with your account information. Your debit card will then be mailed to you.
If you are already in Canada
To complete the online application form, you will need:
- A Canadian phone number
- One of the following documents:
- A valid and eligible passport from a country other than Canada
- A Canadian permanent resident card
- A Canadian driver's licence
- A Canadian identity card (except in Quebec)
- A Quebec health insurance card (new model)
If you are still in your home country and will be arriving in Canada in less than 90 days
How It Helps Relocators
Apply online
Open your account online from anywhere in the world, even before you arrive in Canada.
Get matched
We'll schedule an appointment to complete the process together when you arrive, or remotely if eligible.
Set-up services
Activate your account, set up direct deposit, sign up for online banking, and add optional services.
Start Banking
Begin using your account with no fixed fees for the first year, plus claim your cashback rewards.
How does National Bank support newcomers?
Remote account opening
Start your application online from anywhere in the world, up to 90 days before your arrival. Complete the process remotely or at a branch when you arrive.
Money transfers before arrival
Transfer money to your new Canadian account before you arrive so your funds are available when you arrive.
Multilingual support
Banking services and ABMs available in French, English, Spanish, Traditional Chinese, Punjabi, and Arabic.
Personal banking advisor
Get dedicated support from a banking advisor who understands the unique needs of newcomers to Canada.
National Bank locations
National Bank serves clients across the country.
Branches
- 361+ branches across Canada
- 2,071 ABMs nationwide
- Extensive coverage in Quebec and Ontario
- Growing presence in Western Canada
- Services available in 6 languages
International access
- Access funds abroad via Cirrus®, Maestro®, and NYCE® networks
- Partner ABMs worldwide (Accel®, Cirrus®, Allpoint®)
- International money transfers to 170+ countries
- Newcomer support from your home country
More services for newcomers
- Credit Cards: Build your Canadian credit with cards designed for newcomers with no local credit history.
- Mortgages: Access mortgage pre-approval and home buying support tailored for newcomers.
- Investment Services: Open TFSAs, RRSPs, and other investment accounts to secure your financial future.
- Business Banking: Entrepreneur programs for newcomers starting businesses in Canada.
- Insurance: Life, home, and auto insurance products through National Bank Financial partners.
FAQs
Ready to start your Canadian banking journey?
Join thousands of newcomers who've chosen National Bank of Canada as their trusted banking partner.
Secure application • CDIC Protected • Award-winning service
Important Information
Promotion period: November 5, 2025 to May 5, 2026. Conditions and eligibility criteria apply.
Eligibility: Available to newcomers from 90 days before arrival up to 5 years after arriving in Canada. Must be permanent residents, temporary workers, or international students.
Account requirements: To maintain promotional pricing and cashback eligibility, you must keep your account and required services active for specified periods. See National Bank’s terms and conditions for complete details.
Fees: While monthly account fees are waived or reduced for the first 3 years, transaction fees may apply for services not included in your package. Review the Guide to Personal Banking Solutions for complete fee schedule.
Deposits protected: Eligible deposits with National Bank of Canada are protected by the Canada Deposit Insurance Corporation (CDIC) up to applicable limits.
Information current as of November 2025. Offers, rates, and terms subject to change. Visit nbc.ca for the most current information.
Legal disclaimers
Cashback Promotion – Chequing Account and Additional Cashback
Description of the Promotion
Up to $600 cashback after opening a chequing account and adding certain products or services, or carrying out certain transactions in the new account.
Eligibility Conditions
| Products, Services or Transactions | Conditions | Cashback |
|---|---|---|
| New National Bank chequing account with an eligible package/offer, online services and activation of an automatic deposit |
|
$300 (Basic cashback) |
| Apply for a new eligible credit card |
|
+ $100 |
| Automatic mortgage loan payment | Within 120 days, set up pre-authorized recurring payments from the new chequing account for a National Bank mortgage. | + $100 |
| High Interest Savings Account |
|
+ $100 |
| Total cashback if all conditions are met | Up to $600 | |
Eligible Automated Direct Deposits
| Type | Payments Canada Transaction Code |
|---|---|
| Payroll Deposit | 200 |
| Private Pension | 233 |
| Family Support Plan | 601 |
| Special Payroll | 201 |
| Retirement Income Fund | 272 |
| Income Security Benefits | 603 |
| Vacation Payroll | 202 |
| Canada Child Benefit | 308 |
| CNESST | 605 |
| Overtime Payroll | 203 |
| CPP (Canada Pension Plan) | 310 |
| Employment Assistance Allowance | 607 |
| Advance Pay | 204 |
| Old Age Security | 311 |
| Disability Payment | 611 |
| Commission Payroll | 205 |
| War Veterans' Allowance | 312 |
| Parental Insurance | 612 |
| Bonus Payroll | 206 |
| VAC (Veterans Affairs Canada) | 313 |
| Children Assistance | 616 |
| Adjustment Payroll | 207 |
| Public Service Superannuation | 315 |
| Miscellaneous Payments | 450 |
| Pension | 230 |
| Canadian Forces Superannuation | 316 |
| Accounts Payable | 460 |
| Federal Pension | 231 |
| Employment Insurance | 318 |
| Provincial Pension | 232 |
| Canada Disability Benefit | 328 |
Cashback Payment Schedule
| Opening Date of New Chequing Account | Date of Cashback Deposit |
|---|---|
| Nov 5 – Nov 30, 2025 | By May 15, 2026 |
| Dec 1 – Dec 31, 2025 | By June 15, 2026 |
| Jan 1 – Jan 31, 2026 | By July 15, 2026 |
| Feb 1 – Feb 28, 2026 | By August 15, 2026 |
| Mar 1 – Mar 31, 2026 | By September 15, 2026 |
| Apr 1 – Apr 30, 2026 | By October 15, 2026 |
| May 1 – May 5, 2026 | By November 15, 2026 |
Other Conditions
- Only one cashback per chequing account.
- Must be at least 14 years old to open the account.
- Must keep both the chequing account and any eligible credit card for at least 12 months.
- Chequing account must remain in good standing for at least 180 days (no unauthorized overdrafts or misuse).
- Credit card must remain in good standing (minimum payments made on time).
- Credit card approval subject to National Bank credit approval; must be 18 years or older.
- Employees of National Bank, CWB®, or subsidiaries and their spouses are not eligible.
- Promotion may be modified or withdrawn without notice.
- Cannot be combined with other National Bank chequing cashback promotions, but may be combined with eligible credit card, mortgage, insurance, or investment promotions.
Trademarks:
® NATIONAL BANK, CWB, CRESCENDO, THE STRATEGIST, THE CONNECTED, THE TOTAL, SUPERIOR FLEX LINE, ALL-IN-ONE, MY CREDIT, ALLURE, and ECHO are registered trademarks of National Bank of Canada.
® Interac is a registered trademark of Interac Corp. Used under licence.
® Mastercard, World Mastercard, MC1, Platinum, and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. National Bank is an authorized user.
Legal disclaimers
- TM National Bank Assistance Network is a trademark of National Bank of Canada, used under licence by authorized third parties.
- ® Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.
- ®THE EXCHANGE and Accel are registered trademarks of Fiserv Inc.
- ®CIRRUS is a registered trademark of Mastercard International Incorporated. Authorized user: National Bank.
- ®Allpoint is a registered trademark of ATM National LLC.
- PARAGON, CELPIP, CELPIT, CELTOP, CELL, LPI, CANADIAN ENGLISH LANGUAGE PROFICIENCY INDEX TEST, LANGUAGE PROFICIENCY INDEX, CANADIAN ENGLISH LANGUAGE PROFICIENCY INDEX PROGRAM, CAEL, CANADIAN ACADEMIC ENGLISH LANGUAGE ASSESSMENT and related logos are registered or unregistered trademarks and service marks owned or licensed by Paragon. Any unauthorized use of those trademarks is strictly prohibited, and nothing on a Website or in these General Terms of Services or any Service Terms will be construed as granting, by implication, estoppel, or otherwise, any licence or right to use any of those trademarks and service marks.
- National Bank of Canada is not a licensed bank in France or other countries outside of Canada.
- National Bank of Canada was named the best bank for newcomers to Canada by MoneySense in 2024. MoneySense establishes its annual rankings by selecting some of the largest financial institutions and comparing them for fees, access to credit and services offered to newcomers.
- National Bank's mycredit® Mastercard® credit card has won the Milesopedia best credit card for newcomers in 2023. Each year, Milesopedia examines the credit card offers of the largest financial institutions and establishes its ranking according to more than 150 criteria such as fees, welcome offers, minimum income required, number of points per category, account credits, insurance, airport lounge access, etc.
- Our banking offer is available to newcomers from their home countries up to 90 days before arriving in Canada or at any point during your first 5 years in Canada. See the above terms and conditions of the offer for no fixed monthly fee for 3 years. The offer may be modified, extended or withdrawn, without prior notice, at any time. The offer may not be combined or used with any other National Bank offer, promotion or benefit. Fees may apply for transactions not included in the banking offer for newcomers. For more information on transaction fees, see our Guide to Personal Banking Solutions [PDF].
- Financing is subject to credit approval by National Bank. Certain conditions apply. Eligible credit cards: mycredit, MC1, Allure, Syncro, Platinum, ECHO Cashback, World and World Elite.
- Guarantee may be required under certain circumstances. Financing is subject to credit approval by National Bank. Certain conditions apply.
- International Transfer by Mastercard® and Interac® are available at a cost of $5.95 per transaction, no matter which account you hold. The amount received by the beneficiary may differ from the amount sent considering that the intermediary bank or the beneficiary's bank will apply their fees to the original transfer's amount. This service allows you to transfer funds to the United States, India, Philippines, United Kingdom and the following 19 European countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
- Telephone assistance service offered by FBA Solutions, valid for 12 months from your account opening date. The content of the packages and terms described are subject to change.
- National Bank ABMs or ABMs in THE EXCHANGEá´ąá´° network. Use all our ABM features in six languages (French, English, Spanish, Traditional Chinese, Punjabi, and Arabic).
- Locate CIRRUS, Maestro® and NYCE® ABMs and payment terminals with the logos on the back of your card. You can then use your debit card at these ABMs in the United States and around the world, including our network of partners Accel®, Cirrus® and Allpoint®. Administrative or exchange rate fees may apply.
Eligibility criteria
- Be a newcomer and at least 18 years of age or older
- Apply to open an account from your home country up to 90 days before you arrive in Canada, or within 5 years of your arrival
- Be the only account user
- The offer for newcomers is open to permanent residents, temporary workers and international students
Bank account for Newcomers details and conditions
- Three levels of savings possible on your newcomer bank account
- 1. Baseline savings of $334.92 over three years for the account
- You'll save if you meet the following conditions:
- Open a bank account online before arriving with our secure form or visit a branch upon arrival.
- Sign up for our offer for newcomers.
- Savings are based on:
- First year: no flat monthly fee (savings of $15.95/month for 12 months)
- Second year: flat monthly fee of $7.98 instead of $15.95 (savings of $7.97/month for 12 months)
- Third year: flat monthly fee of $11.96 instead of $15.95 (savings of $3.99/month for 12 months)
- 2. Maximum savings on the account: $574.20 over 3 years
- In addition to the basic savings conditions, you must:
- Maintain a minimum daily balance of $4,500
- OR
- Sign up for the following three products and services before the end of the first year and maintain them until the end of the special offer:
- A Mastercard® personal credit card
- Electronic bank statements
- Payroll deposit to your bank account at one of our branches at least once a month or payment of at least two bills per month electronically from this bank account
- 3. Maximum total savings of the offer: $683.30 over 3 years
- To reach these savings, you must meet all the conditions for maximum savings on the account (above) and take advantage of the following services:
- First check order free ($67.10/order)
- Free paper bank statements for the first year ($42)
- To reach these savings, you must meet all the conditions for maximum savings on the account (above) and take advantage of the following services:
- Please note:
- The savings depend on meeting all the requirements for the entire duration of the offer (3 years).
- If you do not meet all the conditions in a given month, your savings will be reduced.
- If you no longer have the bank account or the Newcomer Package, the savings will no longer apply.
- At the end of the third year, the Newcomer Package will automatically be migrated to The Connected® package, along with any applicable benefits. No action is required on your part. You can also browse all our packages to find the one that best suits your needs.
Awards & Recognition
Best Bank Account for Newcomers
Why We Recommend
- Vetted partner with proven track record
- Trusted by expats for transparent pricing
- Seamless fit in our relocation workflow
Awards & Recognition
Typical Timeline
Based on recent expat projects