About bank
The National Bank of Canada is not just a bank but an integrated financial group. NBC is the largest bank in Quebec and Canada's sixth largest commercial bank.
It was established in 1979 upon the merger between the Banque Canadienne Nationale merger and the Provincial Bank of Canada. However, the historical roots of the National Bank of Canada go back to mid-19th-century Quebec, where it was founded and incorporated in 1859 to be controlled by French-speaking businessmen.
NBC is based in Montreal and has more than 400 branches in most Canadian provinces and over 900 ATMs in Canada. It provides various banking and financial services to 2.4 million personal clients.
The National Bank of Canada subsidiaries offer trust services, wealth management, mutual funds, services in Florida, direct brokerage services, service brokerage and investment counseling, life insurance, and general insurance.
Features
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NBC started in Quebec and concentrated in this province, with some options available for citizens of this province. Later it became one of Canada's major financial institutions with a network of branches, international centers, subsidiaries, and automated banking machines.
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The bank is focused on digital transformation, making an effort to enhance innovations with the help of partnerships with fintech, artificial intelligence, and blockchain technology.
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NBC offers a great variety of banking for children, youth, newcomers, and professionals. In addition, clients could choose an offer tailored for their area with special conditions, benefits, advice on loans, mortgages, credit cards, chequing accounts, etc.
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National Bank provides an impressive variety of products and services for different business sectors for Canadian and international operations. It also offers advice and assistance from specialized experts for any business need.
Pros and cons
Pros
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Big reputable bank
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Full-service personal and business banking
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Offers for newcomers, students, kids, young adults, professionals
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Options for different healthcare specialists
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Large network of ABMs
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Various lending options
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Personal loans with penalty-free prepayment
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Great choice of business banking solutions
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Insurance and investment products and services provided by a subsidiary
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Impressive variety of investment opportunities
Cons
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Services are focused on the Quebec residents
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Some services and products are unavailable online
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You can't apply 100% online
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Not the best rates for savings
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A lack of investment products for independent investors
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No online brokerage platform
Products
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The Minimalist chequing account package is available for no fee for some types of clients or with a low fee for a limited number of transactions.
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The Total bank account is an unlimited package with benefits for a fixed fee which may be waived with a certain minimum balance.
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National Bank Syncro Mastercard has a low annual fee, rates, extended warranty, and special offers.
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High-Interest Savings Account with no monthly fees and minimum balance required.
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The All-in-one is a home equity line of credit (HELOC) which allows you to finance up to 80% of the property's value if combined with a mortgage loan and repay it with points from the credit card.
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Mortgage for the self‑employed is an offer tailored specifically for self-employed workers or business owners who don't have a standard proof of income.
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Growth Capital and Transfer Capital Fund of National Bank Private Investment is made to finance business modernization, digitalization, transfer, and purchase projects.
Services
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Bank accounts: savings and chequing accounts for personal and business use with a wide range of options and special offers for students, kids, young adults, newcomers, professionals, and business sectors.
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Credit cards: no fee, cashback, travel, rewards, low-interest rate offers for different budgets and purposes with bonuses and insurance for personal and business clients.
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Borrowing: personal loans, car loans, two types of lines of credit, RRSP loans and lines of credit, student lines of credit, and HELOCs with competitive rates and flexible repayment options.
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Mortgages: fixed, variable, and combined, closed and open with competitive rates and great repayment terms, self-employed mortgage offer.
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Business bank accounts, loans, financing programs, credit cards, international services, and investing for different types of business with advice and additional partner service.
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Investments: GICs of all types, Cash Advantage Solution to save money while making a choice, NBI Funds, Portfolios, and Private Wealth Management for manageable investments starting from $500.
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Insurance: Travel insurance for a one-time trip, comprehensive travel insurance added to eligible credit card packages, mortgage loan and line of credit, life and disability insurance, other credit card insurance, SECURIZONE for identity and fraud protection.
