Notice of amendement

At National Bank, it is important for us to keep you up to date on all aspects of your banking business. Accordingly, this notice outlines the amendments that will be made to the agreement governing the use of National Bank MasterCard® credit cards.

To meet our clients' needs, we regularly update our product and service offering. Further to an update, please note that, as of October 1, 2014, all cards will now be subject to an increased rate. Annual interest rates and other fees will be adjusted for certain products only. Rest assured that all benefits and rewards plans associated with your card will remain unchanged.

Effective October 1, 2014

New regular interest rates
(for World MasterCard and World Elite MasterCard cards only)

Cards Current rates New rates
Purchases Cash advances and balance transfers Purchases Cash advances and balance transfers
World MasterCard and
World Elite MasterCard
19.5% 19.5% 19.99% 21.99%

Increased Rates
(applicable to all cards)

New rules seeking to raise interest rates in the event of failure to make the minimum payment will come into effect on October 1st.

The annual interest rates will increase if the minimum payment is not made at the latest on the due date indicated on the monthly statement:

(i) for 2 consecutive months; or

(ii) 3 times or more during any 12 month period. Any default which occurs during a 12-month period is counted, regardless of whether or not the default has already been counted to increase the rates in the past or has occurred during such a period.

For all cards except the Syncro card, the annual interest rates will be increased to 24.99% for purchases and to 26.99% for balance transfers and cash advances. For the Syncro card, the interest rate in effect, when you missed your minimum payment which caused the rate to increase, will be increased by 5%.

These increased rates will take effect on the 3rd statement period following the default that caused the rate to increase. These increased rates will apply to your account balance until you make the minimum payment no later than on the due date indicated on your monthly statement for a period of 6 consecutive months. Subsequently, the regular rates of 19.99% for purchases and 21.99% for balance transfers and cash advances will apply, regardless of whether a promotional or reduced rate was in effect prior to the rate increase. For the Syncro card, the rate in effect after this period will be the prime rate + 4% or prime rate + 6% or the minimum rate, as applicable.

Choose pre-authorized debit

By signing up for this service, your credit card account payment will be automatically made, on the due date indicated on your monthly statement, from your National Bank account or an account at another financial institution. This will help you avoid late payments.

Apply now for pre-authorized debit

Other fees

Fee Current fee New fee
Fee for cash advances (per transaction) – Automated services and teller services (National Bank)*

Automated services:
$2.00

Teller services:
$2.50

$3.50
Fee for cash advances (per transaction) – Other financial institutions in Canada
(tellers1 and Interac2)*
$2.50 $3.50
Fee for balance transfers requested when the MasterCard account is opened no fee 1% of the amount of the transaction
Fee for balance transfers requested after the MasterCard account is opened no fee 3% of the amount of the transaction3
Fee for use of MasterCard cheques no fee 3% of the amount of the transaction3

*This fee increase only applies to World MasterCard and World Elite MasterCard cards.

Questions?

Consult our FAQ

Consult the Agreement Governing the Use of the MasterCard Credit Card Issued by National Bank of Canada

 

1. At a financial institution that is part of the MasterCard Network.

2. Registered trademarks of Interac Inc., MasterCard International Inc. and CIRRUS System Inc. Authorized user: National Bank of Canada.

3. Fee may be reduced if a promotional offer is available and will be disclosed when the offer is made.

® Registered trademark of MasterCard International Inc. Authorized user: National Bank.

To meet our clients' needs, we regularly update our product and service offering. Further to an update, please note that, as of October 1, 2014, an increased rate will be implemented and certain fees will be adjusted for Platinum Business, Business, Premia and Business Line cards. Rest assured that all benefits and rewards plans associated with your card will remain unchanged.

Increased Rates

New rules seeking to raise interest rates in the event of failure to make the minimum payment will come into effect on October 1st.

The annual interest rates will increase if the minimum payment is not made at the latest on the due date indicated on the monthly statement:

(i) for 2 consecutive months; or

(ii) 3 times or more during any 12 month period. Any default which occurs during a 12-month period is counted, regardless of whether or not the default has already been counted to increase the rates in the past or has occurred during such a period.

For all cards except the MasterCard Business Line, the annual interest rates will be increased to 24.99% for purchases and to 26.99% for balance transfers and cash advances. For the MasterCard Business Line, the interest rate in effect, when you missed your minimum payment which caused the rate to increase, will be increased by 5%.

These increased rates will take effect on the 3rd statement period following the default that caused the rate to increase. These increased rates will apply to your account balance until you make the minimum payment no later than on the due date indicated on your monthly statement for a period of 6 consecutive months. Subsequently, the regular rates of 19.99% for purchases and 21.99% for balance transfers and cash advances will apply, regardless of whether a promotional or reduced rate was in effect prior to the rate increase. For the MasterCard Business Line, the rate in effect after this period will be the regular rate.

Choose pre-authorized debit

By signing up for this service, your credit card account payment will be automatically made, on the due date indicated on your monthly statement, from your National Bank account or an account at another financial institution. This will help you avoid late payments.

Apply now for pre-authorized debit

Other fees

Fee Current fee New fee
Fee for stop payment (for the MasterCard Business Line only) $10.00 no fee
Fee for cash advances (per transaction) – Automated services and teller services (National Bank)

Automated services:
$2.00

Teller services:
$2.50

$3.50
Fee for cash advances (per transaction) – Other financial institutions in Canada
(tellers1 and Interac2)
$2.50 $3.50
Fee for dishonoured account payment $40.00 $42.50
Fee for balance transfers requested when the MasterCard account is opened no fee 1% of the amount of the transaction
Fee for balance transfers requested after the MasterCard account is opened no fee 3% of the amount of the transaction3
Fee for use of MasterCard cheques

no fee

MasterCard Business Line: $2.50

3% of the amount of the transaction3

Questions?

Consult our FAQ

Consult the Agreement Governing the Use of the MasterCard Credit Card Issued by National Bank of Canada

 

1. At a financial institution that is part of the MasterCard Network.

2. Registered trademarks of Interac Inc., MasterCard International Inc. and CIRRUS System Inc. Authorized user: National Bank of Canada.

3. Fee may be reduced if a promotional offer is available and will be disclosed when the offer is made.

® Registered trademark of MasterCard International Inc. Authorized user: National Bank.