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COVID-19: When to get in touch

Stay informed about our measures to support your business

Updated – April 3, 2020

On this page

Support measures    Branches    Transactions    Security    Contactless payment    Loan insurance     Travel


Due to the increased number of requests, we will respond to clients who are facing financial difficulties in order of priority.

How to contact us?

We understand that the waiting time to speak to us is longer than usual. We thank you for your patience and ask that you follow certain guidelines:

  • NBC.ca: consult the nbc.ca webpage first for answers to your questions.
  • Online: sign in to your Internet Banking Solutions for Business or National Bank app to continue carrying out your daily transactions.
  • Phone: please only call us regarding your essential financial needs such as:
    • A lost or stolen credit card
    • Fraudulent transactions
    • Financial difficulties
  • If you have an account manager: contact them directly as a priority, but only for your essential financial needs.
  • Branch: out of respect to our employees and clients, only visit a branch for urgent financial needs that cannot be carried out from home or an ABM.

Support measures

Canada Emergency Business Account 

The Government of Canada is establishing a new Emergency Business Account. This program will allow Canadian businesses to obtain a loan of up to $40,000. The loan will be interest-free for a period of 3 years with a grant of 25% (maximum $10,000), if repaid in full by December 31, 2022.

This program is aimed at eligible businesses and not-for-profit organizations. To be eligible, organizations must meet the following criteria: 

  • Have paid between $50,000 to $1 million in salaries for the year 2019  
  • As of March 1, 2020, must not be more than 90 days behind their payment with their financial institution.

How do I benefit from this loan?

To receive this assistance, organizations will need to apply through their primary financial institution where they had an active business chequing account since at least March 1, 2020.

An application form will be available online the week of April 6. We are aware of the urgency of the situation but please note that we will not accept applications before this date. We encourage you to visit this page regularly for the latest news and updates

Investissement Québec’s Concerted temporary action program for businesses

This measure is intended for companies operating in Quebec that have a satisfactory history of profitability, but are currently experiencing a precarious situation and are in temporary financial difficulty because of COVID-19.

This program gives you access to a working capital loan of a minimum of $71,500.

For more details, visit the Investissement Québec website

If you have an account manager, please contact them directly. If not, please contact our National Bank Business Central® customer service to discuss your situation with one of our experts.

1-844-394-4494, Monday to Friday from 8:00 a.m. to 6:00 p.m. (ET).

Export Development Canada's Business Credit Availability Program (BCAP)

This measure is aimed at direct exporters, indirect exporters, and future direct exporters who are in a difficult situation because of COVID-19.

This program allows you to obtain an operating line of credit or cash flow loan of up to $6.25M in CAD, USD or other currency.

For more details, visit the Export Development Canada website 

If you have an account manager, contact them directly as a priority. If not, please contact our National Bank Business Central® customer service to discuss your situation with one of our experts.

1-844-394-4494, Monday to Friday from 8:00 a.m. to 6:00 p.m. (ET).

Other government measures

The federal government has announced new measures to help businesses. Wage subsidies will increase from 10% to 75%, retroactively from March 15, for employees of small and medium-sized businesses affected by COVID-19. Businesses and self-employed individuals will be able to defer their GST, QST and customs payments due on imports until June. We will update this information as more details become available. 

 


 

Branches

What measures should I follow to visit a branch?

It’s important to follow the recommendations issued by government authorities and limit your trips to essential places only, such as grocery stores and pharmacies.

For our clients aged 70 and over, who have returned from a trip, have symptoms, or have doubts about their health, we ask that you respect the isolation period recommended by government authorities.

What preventative measures are in place to ensure the safety of clients and employees at a branch?

  • We are always monitoring the number of people in our branches to ensure a 2-meter distance between employees and clients.
  • Additional hygiene measures have been implemented in our branches, ABMs and offices such as more frequent cleaning of the premises and disinfectant gel dispensers at the entrance.

Some branches are temporarily closed and others have reduced business hours. Before leaving your home, consult the list of branches that have closed or adopted new business hours. Our ABMs continue to remain available. To find an ABM near your, click here.

Are branch appointments continuing as usual?

Contact your advisor before visiting your branch. You may be able to schedule a remote meeting.

 


 

Transactions

How do I make my daily transactions?

Our customer service centres are receiving a very high volume of calls. To carry out your daily transactions, sign in to your Internet Banking Solutions for Business or National Bank app to:

  • Pay your utility bills
  • Pay other suppliers
  • Transfer funds by Interac e-Transfers® to anyone in Canada. Please note that the weekly limit for receiving Interac transfers has increased from $70,000 to $100,000.
  • Complete and submit government remittances
  • Deposit cheques (via National Bank app)
  • Order cheques
  • Download eStatements
  • Request a stop payment on a cheque or pre-authorized debit
  • Manage your incoming and outgoing cash flow

Is it possible to edit or stop a pre-authorized debit or cheque?

Yes, you can edit or stop a pre-authorized debit or cheque. To support you during the COVID-19 situation, we have temporarily waived the fees for stop payments until July 5, 2020.

For a stop payment, sign in to your Internet Banking Solutions for Business:

  • Under Other services in the left menu, click Stop payment 

  • Select the type of payment you want to edit or stop

  • Follow the instructions 

How do I learn to use Internet Banking Solutions for Businesses? 

Visit the Help center, available when you sign in to your account: 

 

Internet Banking Solutions for businesses screenshot

 

Security

Criminals always try and get away with fraudulent activities during a time of crisis, and the current situation with Covid-19 is no exception.

How can I make sure I don’t fall victim to fraud?

Be aware of the increasing number of phishing emails, text messages, false social media news and other fraudulent calls.

Neither National Bank, a public health authority, nor the government will ask for your personal information by email, text message, or with hyperlinks and attachments in emails.

Stay vigilant!

Never click a link in an email or text message without thinking, and don’t open attachments without being sure who sent them. Never give out your Social Insurance Number, password, or other personal information over the phone, even if the person insists.

Here are some hints of a fraudulent email or text message:

  • A clickable link in the text or an attachment
  • A lack of precision in the request
  • An unusual mailing address, i.e. is very long or looks like an official address, but isn’t
  • And spelling mistakes in the text

To protect yourself:

  • Always download your apps from official websites
  • Always check the reliability of the website you’re visiting

To learn more about the best practices in fraud prevention, visit our ABCs of security.

 


 

Contactless payment

Does my business credit card allow me to make a contactless payment over $100?

The National Bank Business, Platinum Business and Premia credit cards allow contactless payment above $100 at participating merchants. To find out the limit for a specific business, contact the merchant in question directly. 

 


 

Loan insurance

Will my employee or I be protected by disability insurance if we have COVID-19 and have to be absent from work?

If you can no longer perform the usual duties of your job because of the illness, the claim may be admissible.    

It is important to know that a 60-day delay (waiting period) applies for this coverage.   

In addition, the exclusion of pre-existing conditions applies:   

No benefits will be paid for death, Disability, Critical Illness or Accidental Dismemberment resulting directly or indirectly from pre-existing conditions: the effects of an Illness and/or symptoms or Accident when death, Disability, Critical Illness or Accidental Dismemberment occurs during the 12 months following the effective date of the insurance and for which Illness and/or symptoms, injury or any related cause, resulting directly or indirectly from the Accident or Illness, the Insured, during the 12 months that preceded the effective date of the insurance, had consulted or received treatment from a physician or other health care professional, underwent tests, took medication or was hospitalized.

I am self-employed and have to temporarily close my business because of the current COVID-19 situation. Can I get disability insurance for my loans?

Disability insurance covers situations where you would be unable to perform the usual duties of your job because of illness. Job loss is not an illness so the claim would not be admissible.

Make a claim

Due to the current situation, the wait time to speak to an agent is longer than usual. This is why we are reviewing our procedure for submitting a loan insurance claim.

Please refer to the Claim page for full details.

 


 

Travel

I want to interrupt my trip and have full protection with my Mastercard® Corporate card. How does the reimbursement work?

The travel interruption protection covers your travel expenses if you have to interrupt or extend your trip due to one or more elements predetermined by the insurer. This list includes, among other things, the recommendation of the Government of Canada, in effect at the time of travel, not to travel to the intended location after reservations have been made. Note that the Mastercard Corporate card does not provide protection for cancellations. To see the other causes covered, consult your insurance certificate.  

I want to cancel a trip that I paid for in part or in full with the rewards points from my Mastercard® Platinum Business Card. How does the reimbursement work?

Please note that the Platinum Business Mastercard does not offer any trip cancellation insurance. If you cancel the trip, your rewards points transaction will be reversed: your points will be returned and the cost of the trip appearing on your invoice will be charged to your Platinum account. If your service provider or insurer agrees to reimburse you, you can claim the cost of the trip appearing on your invoice and charged to your account. 

 


 

National Bank will answer your questions 

Has COVID-19 impacted your business? Do you need help? Stéphane Archard and Isabelle Savard will explain the various government programs available to you and the support measures the Bank has put in place.