Press Releases

National Bank clients can now use their debit cards in the United States

Montreal, 25 October 2004 -

Effective October 27, National Bank clients will be able to use their debit cards for purchases at more than one million retailers in the United States.  This initiative was made possible by a newly formed alliance with Acxsys Corporation, the architect of Interac Direct Payment services in Canada, and NYCE Corporation.

Under this agreement, National Bank debit card holders will be able to make purchases in the United States without having to first convert their Canadian currency or withdraw cash from a bank machine.  This service will go by the generic name of “cross-border debit service.”

Clients will be issued a receipt which will indicate the US dollar amount of their purchase, while the actual amount debited from their account will be in Canadian funds. 

Acxsys Corporation, whose shareholders are BMO, CIBC, RBC Royal Bank, Scotiabank, TD Canada Trust, National Bank of Canada, Desjardins Group and Credit Union Central of Canada, is headquartered in Toronto.

About the National Bank of Canada
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. The National Bank has assets of  $84 billion and, together with its subsidiaries, employs close to 17,000 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at www.nbc.ca.

Information: (The telephone number provided below is for the exclusive use of journalists and other media representatives.)

Johanne Bissonnette
Public Relations Department
National Bank of Canada
Tel.: (514) 394-6500