General information

As part of our acquisition of the portfolio of Laurentian Bank of Canada® (Laurentian Bank), we are pleased to welcome your business to National Bank of Canada® (National Bank). Your Laurentian Bank products and services will be migrated to National Bank or its subsidiaries.

 

Documents and resources are available to help you prepare for and navigate the migration, including:

• a migration letter with detailed information, including migration dates;
• this Product and Service Migration Guide;
• the migration website: nbc.ca/lbc-business;
• communications relating to online banking enrolment.

 

You may also receive additional communications about specific products and services you hold.

 

Please note that the information contained in this guide concerns Laurentian Bank’s business banking products and services and covers products and services you may or may not hold. Copies of agreements for all National Bank products and services referred to in this guide, as well as National Bank’s Fee Guide for Banking Services for Businesses, can also be accessed at nbc.ca/lbc-business-legal.

 

Once the transition has been completed, your current pricing for business banking products and services may change. Your business will benefit from a welcome offer, including some fee exemptions until February 28, 2027, on migrated products, in particular for monthly packages and electronic debit or credit transactions, mobile cheque deposits (ABMs and mobile devices), and the processing service for certain electronic payments. The specific features of the offer are found in the sections of the products where it applies.

 

As part of the acquisition of the portfolio of Laurentian Bank of Canada by National Bank, certain personal information, including the contact information of your organization’s authorized representatives, is now held by National Bank and its subsidiaries, as applicable. National Bank may use this information to send updates, promotional offers and other relevant communications to your organization or its representatives. National Bank is committed to protecting personal information and will handle it in accordance with its Privacy Policy, which can be found at nbc.ca/confidentiality.

 

National Bank and its subsidiaries will consider that you have accepted any changes to your products and services if you continue to use them as of the migration date.

 

Ce document est disponible en ligne en français. Visitez nbc.ca/blc-entreprise. Vous pouvez changer votre langue de préférence en appelant le Centre d’expérience client de la Banque Nationale^MD au 1 844 394-4494.

At migration, the current terms and conditions of your Laurentian Bank business account will be replaced with the terms and conditions found in National Bank’s Agreement for Business Banking, which can be downloaded at nbc.ca/business-agreement.

 

This agreement sets out the general terms and conditions governing our banking services, including any bank account held with National Bank as well as remote banking services.

 

This guide may also refer to a user guide or other documents containing specific terms and conditions applicable to certain products and services.

 

Your use of the products and services involved must comply with the specific terms and conditions of these guides and other documents as if they were also part of the Agreement for Business Banking.

 

Your current delegations and signing authorities will be carried over to your new accounts, and National Bank will use the authorized signatories found in Laurentian Bank’s files. If you would like to send us different instructions, please contact National Bank’s Client Experience Centre once your products have been migrated to request a change.

 

The powers associated with authorized signatories are detailed in the Agreement for Business Banking, specifically in the client representations set out in paragraphs 20 e), f) and g).

 

Consistent with these provisions, any representative you have designated as an authorized signatory for the management of the bank account and who is identified as such in Laurentian Bank’s files will be considered as: (i) authorized to sign the application to open and modify an account and to sign the agreements relating to the use of banking services (section 4.1 of National Bank’s standard account opening application); and (ii) authorized to sign and endorse items and other instruments (section 4.2 of National Bank’s standard account opening application). Any representative you have designated as a signing authority for financing who is identified as such in Laurentian Bank’s files will be considered as being authorized to sign loan agreements (Section 4.3 of National Bank’s standard account opening application).

 

Please note that National Bank’s standard terms provide that any person named in the account application form as being authorized to sign the account opening and modification form, as well as the agreements governing the use of banking services and other services offered, is automatically designated by National Bank and its subsidiaries as an administrator for the use of our remote banking services. That person may therefore obtain initial access to National Bank’s online services, which will enable them to manage payment and transaction authorizations.

 

For more details on the role of an administrator, please see section 1 of the Agreement for Business Banking (Part 2).

Following the migration, Laurentian Bank’s account statements will be issued by National Bank. Please be aware that your account statement delivery preferences (online or by mail) will be kept for your new National Bank current accounts (CAD and USD). For easier access to your Laurentian Bank account history, we recommend that you download or print your statements for the past 12 months. Please note that National Bank does not provide consolidated statements for all your products.

 

Laurentian Bank will send you a paper copy of your statements for the portion of the month of November preceding your migration. Past statements for your Laurentian Bank bank accounts and credit card will be gradually made available on National Bank’s online banking services starting in January 2027. You can request statements for your other products by contacting the National Bank Client Experience Centre (CEC) after your migration.

 

For more information on our standard statement fees, see our Fee Guide for Banking Services for Businesses at nbc.ca/lbc-business-legal.

 

For more information on how our statements are named, visit nbc.ca/lbc-business.

 

Electronic account statements

 

Following the migration of your products to National Bank, you will be able to view and download your electronic statements (including cheque images) through National Bank’s online banking services, if you are signed up. The following statements are available online:

• Statements for business current accounts (CAD and USD)
• Statements for business investment accounts (CAD and USD)
• Mastercard account statements
• Foreign currency account statements

 

To activate this option, please follow the instructions in the Online Banking Enrollment Guide – Business, available at nbc.ca/lbc-business. Note that loan and Guaranteed Investment Certificate (GIC) statements are not available through National Bank’s online banking and will be mailed to you.

 

Paper account statements

 

If you wish to receive paper statements (without cheque images) for the following products:

• Statements for business current accounts (CAD and USD)
• Statements for business investment accounts (CAD and USD)
• Mastercard account statements
• Foreign currency account statements

 

You can change your preferences at any time in National Bank’s online banking services.

 

To make it easier for you to make the change, as part of the welcome offer, paper statement fees for CAD and USD current accounts will be waived until February 28, 2027.

 

Note that loan and Guaranteed Investment Certificate (GIC) statements are not available through National Bank’s online banking and will be mailed to you.

 

The mailing address currently associated with your Laurentian Bank statements will be used to mail your account statements after migration, so please make sure that address is up to date. If not, please notify Laurentian Bank promptly.

 

Please note that National Bank does not provide consolidated statements for all your products.

 

If you asked to receive your account statements electronically, it means that you consent to our providing all documents and communications by electronic means. You can activate this request directly through our online banking services. Please refer to the instructions in the Business Online Banking Enrolment Guide. You may at any time withdraw your consent to the transmission of documents and communications to the designated information system.

 

For more information regarding the Consent to the Electronic Delivery of Documents, including your right to consent, please refer to our Agreement for Business Banking at nbc.ca/business-agreement.

For 2026, you will receive a tax slip from Laurentian Bank covering the pre‑migration period and a second tax slip from National Bank covering the post‑migration period. If the amount of interest generated at National Bank is less than $50.00, no tax slip will be issued.

 

For subsequent years, National Bank will issue all tax slips.

National Bank is a member of the Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation that protects your deposits of up to $100,000 at CDIC member institutions. This is a free and automatic service for which clients do not need to sign up.

 

Applicable coverage may not exceed $100,000 per depositor and per category of deposits at the same financial institution, regardless of the currency.

 

Your deposits at both Laurentian Bank and National Bank are insured separately for up to $100,000 per depositor per category, as if there had been no acquisition of your deposits. The amount of separate coverage for those deposits will apply for a period of two years from the acquisition date of your deposits.

 

As such, eligible deposits at Laurentian Bank before the migration continue to be protected separately, up to $100,000 per category for a period of two years post migration, or in the case of term deposits, until maturity or redemption. However, the amount of separate coverage is reduced by any withdrawals made from those separate deposits, or as term deposits mature or are redeemed.

 

For more details on CDIC coverage following the acquisition, please visit nbc.ca/cdic.

 

To learn more about deposit insurance, visit nbc.ca/cdic or the CDIC website at cdic.ca.

Complaint settlement

 

Are you dissatisfied with any of our products or services?

 

Here is how to contact us:

 

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Step 1

 

Contact your branch or service centre

 

In the vast majority of cases, your complaint can be resolved quickly by contacting a customer service representative directly at your branch or service centre, by phone, or in writing.

 

If your complaint involves a business account, please contact your assigned account manager. If you don’t have an assigned account manager, our Business Central team will be pleased to assist you.

 

What you can expect

 

Upon receipt of your complaint, regardless of the channel you used to contact us, we will send you an acknowledgment of receipt confirming the date we began examining your complaint.

 

At your request, we will provide complete, up‑to‑date information about your complaint. We will notify you when we have completed our analysis of your complaint.

 

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Step 2

 

Client Complaint Appeal Office

 

If the person or department you submitted your complaint to is unable to resolve it within 14 calendar days, it will be automatically forwarded to our Client Complaint Appeal Office without any action on your part being required.

 

If you received a response within the specified timeframe but your complaint was not resolved to your satisfaction, please call or email the Client Complaint Appeal Office:

 

Phone: 514-394-8655 or 1-888-300-9004

 

Website: nbc.ca

 

Email: complaintappeal@nbc.ca

 

At your request, the Client Complaint Appeal Office will provide complete, up‑to‑date information about your complaint. It will communicate its decision in writing within 56 calendar days of the receipt of your original complaint (first step).

 

1. This document and the method described in it apply only to banking products and services offered by National Bank. To find out which products and services are covered by this complaint handling method, please visit nbc.ca and click “Complaint settlement” at the bottom of the page, or call 1‑888‑835‑6281 (if you are a personal banking client) or 1‑866‑444‑1379 (if you are an Advisor Banking Services client).
2. Calendar day: Any day in the calendar year, including statutory holidays, from January 1 to December 31.

 

Other recourses

 

Financial Consumer Agency of Canada (FCAC)

 

The Financial Consumer Agency of Canada monitors all federally regulated financial institutions, including banks (financial institutions), to ensure that they comply with federal consumer protection legislation.

 

Financial institutions are required by law to have a complaints process in place.

 

If you are having a problem with a financial product or service, you can file a complaint directly with the financial institution responsible. If you are not satisfied with how your complaint was handled or if the 56‑day period since you filed your complaint has elapsed, you may refer the complaint to the following external complaint body:

 

Ombudsman for Banking Services and Investments (OBSI)

20 Queen Street West, Suite 2400, P.O. Box 8
Toronto, Ontario M5H 3R3

 

Toll‑free telephone: 1-888-451-4519

TTY phone: 1-844-358-3442

Toll‑free fax: 1-888-422-2865

Email: ombudsman@obsi.ca

Website: obsi.ca

 

If you want to know your rights or if you need information on how a financial institution handles complaints, you can contact the FCAC via the online form, by mail or by phone. The FCAC uses information from consumer inquiries to fulfill its mandate.

 

Website: www.canada.ca/en/financial-consumer-agency

Online form: www.canada.ca/en/financial-consumer-agency/corporate/contact-us

 

Phone:

For service in French: 1-866-461-ACFC (2232)

For service in English: 1-866-461-FCAC (3222)

For calls from outside Canada: +1 613-960-4666

Teletypewriter (TTY): 1-866-914-6097 / 613-947-7771

 

Video Relay Service: FCAC welcomes Video Relay Service (VRS) calls. You do not need to authorize the relay service operator to communicate with FCAC. For more information, please visit https://srvcanadavrs.ca/.

 

Mailing address:
Financial Consumer Agency of Canada
427 Laurier Avenue West, 5th Floor
Ottawa, Ontario K1R 7Y2

 

For more information on how complaints are handled at National Bank, go to nbc.ca and click “Complaint settlement” at the bottom of the page.

 

514-394-4494 (Montreal area)

1-844-394-4494 (toll‑free)

1-866-444-1379 (Advisor Banking Services)

 

Please note that any complaints submitted to Laurentian Bank will be handled and resolved by Laurentian Bank. National Bank’s complaint process will be available after your migration date.

 

For a complaint about your insurance coverage, please refer to the information contained in your National Bank Life Insurance Company certificate.

You are responsible for providing us with your complete and accurate contact information, including your email address.

 

You must keep your contact information up to date in order to receive all communications related to your bank account. You must promptly update your contact information when we ask you to do so (for example, by means of a banner displayed in our online banking services).

 

In accordance with the requirements of the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA), National Bank is required to collect and validate its clients’ tax information. We will contact you to update your tax residency information, as well as some basic client profile information.

 

However, please note that no National Bank or Laurentian Bank staff member will contact you or approach you in person to ask for your personal banking information (verification code, PIN, password).

At National Bank, we make every effort to ensure that your banking services are secure. Your National Bank debit card (referred to as a Business Client Card) allows your business to access up to three bank accounts at any time to make transactions at ABMs or purchases from merchants.

 

If you currently have an active Laurentian Bank debit card, you will receive a new National Bank Business Client Card. Please note that National Bank debit cards are not personalized with the entity name.

 

Since National Bank is not part of THE EXCHANGE® network for business banking, funds can no longer be deposited into your business account via ABMs on that network. However, you will be able to make your deposits at National Bank ABMs, using the mobile deposit service or at a branch. Withdrawals on the Accel® network will also no longer be available. For more information on the Business Client Card, visit nbc.ca/business-debit.

 

If you have not received your card at the time of the migration, you can cancel it and request a new card by contacting the National Bank Client Experience Centre (CEC) at 1-844-394-4494 (toll‑free). If you are calling from outside North America, contact us by collect call at 514-394-4494. Please note that charges may apply if you are calling from a mobile phone.

Prior to the migration, PIN instructions for each of your new National Bank debit cards will be mailed to your address in our files. You will receive these instructions a few days before your new National Bank debit cards. To make it easier to identify each new National Bank debit card, the last four digits of the corresponding Laurentian Bank debit card will be indicated in each envelope containing your new card.

 

After the migration, you will be able to activate your debit cards by making a first transaction at an ABM or merchant terminal using the PIN you received. If you wish to change your PIN, you can do so at a National Bank ABM. Please refer to the migration letter for more details on the migration of Laurentian Bank’s business banking services to National Bank.

 

For a complete list of National Bank ABMs, please refer to locator.nbc.ca.

The daily limits for CAD cheque deposits are as follows:

• ABM: $999,999.99
• Deposit via a mobile device: $1,000,000.00

 

For a deposit limit of more than CAD 1 million and for USD cheque deposits, National Bank offers the use of a scanner.

 

For more information, please refer to nbc.ca/business-help or contact the National Bank Client Experience Centre (CEC).

Our Access to Funds Policy describes the minimum conditions that apply when you deposit a cheque or any other type of instrument in the branch, at an ABM or via digital deposit.

 

Any amount posted to your account may be temporarily held for a period determined by National Bank.

 

A hold on funds is a temporary freeze, in whole or in part, of monies deposited in an account so that the deposit can be verified before the funds are made available.

 

For more information, please consult our Access to Funds Policy at nbc.ca/lbc-business-legal. To make a request regarding your company’s deposit/withdrawal rating, please contact National Bank.

Some reference rates used for variable interest rates will be discontinued and replaced with the relevant National Bank reference rates, as detailed below:

• Laurentian Bank’s prime and base rates will be replaced with National Bank’s CAD prime rates.
• Laurentian Bank’s US prime and base rates will be replaced with National Bank’s US prime and base rates.

 

You can find National Bank’s rates at nbc.ca/primerate.

National Bank’s online banking allows you to manage client and supplier payments, both in Canada and abroad, as well as access your balances, transactions and account statements. Please note that National Bank does not offer a service that is equivalent to Laurentian Bank’s LBCDirect service by phone. All transactions are carried out through the online banking platform, which can be accessed through single sign‑on access for clients with a National Bank business bank account or business credit card. The platform contains all the features needed for payment products and basic banking services. Depending on your needs, various solutions for managing receivables and payables can be integrated to the online banking platform. Please also note that, based on the criteria for activating certain products, National Bank will contact you before the migration date in order to assist you with setting up these products. Your migration letter and the online banking enrollment email will provide detailed information on the online banking enrolment process.

 

What you can expect

• National Bank offers a single cash management platform for all types of clients. National Bank’s online banking platform and mobile app provide cash management capabilities (including transaction management) and access to core banking products, services and information.
• The online banking platform is accessible via web browsers and a mobile app, which can be downloaded to your mobile device (iOS and Android).
• National Bank’s online banking platform also gives you access to secure and efficient transfers of large volumes of data through our electronic file and financial document transfer service.
• Please refer to Section 5. Cash Management Services for more information.
• In short, the login experience will be improved, as will navigation and the quality of customer service.

 

Five basic options are included with National Bank’s online banking:

• Account summary: This interface allows you to access all your products available online and manage your favourites.
• Transfers:
  • Inter-account transfers: Complete online fund transfers between your accounts in Canadian and US dollars, or in other currencies.
  • Interac e-Transfers®: Send and receive funds electronically at any time. Transfers can be made with other businesses or with individual clients who bank with Canadian financial institutions.
• Payments:
  • Bill payments: A solution for businesses that want to pay their suppliers electronically when those suppliers are already on National Bank’s pre‑established list.
  • “Other billers”: Best solution for businesses wishing to pay other Canadian billers with the biller/beneficiary’s banking information.
• Mobile cheque deposit: Deposit your cheques with a mobile device.
• Government remittances: Electronic payment tool that allows you to pay your provincial and federal taxes and government remittances.

 

Online banking provides access to a wide range of cash management services, such as:

• wire transfers;
• salary deposits;
• account consolidation;
• foreign exchange transactions;
• digital deposit with scanner;
• lockbox;
• secure electronic mailbox system to transfer files to and from National Bank:
  • Accelerated transfers
  • Cheque reconciliation
  • Electronic payment of accounts
  • Electronic funds transfer (EFT) – Pre‑authorized debits
  • Electronic funds transfer (EFT) – Direct deposits

 

For more information, please refer to Section 5. Cash Management Services or visit nbc.ca/business-online.

 

Please note the following changes to your online banking experience:

• National Bank’s online banking services offer single sign‑on access to clients with a National Bank business bank account or business credit card.
• You can access your business accounts, products and services through the online banking platform, enabled through single sign‑on access, which includes all payment products and core banking products and services.
• Savings accounts at National Bank are not used for transactions. Therefore, all payments or deposits should be directed to a National Bank current account. Please refer to Section 2. Business Deposit Accounts for more information on National Bank’s current and savings accounts.
• National Bank’s online banking platform allows you to better manage your users for one or more entities.
• For your security, SecurID® tokens (also known as physical security tokens) are used as an additional authentication method to approve all outgoing wire transfers submitted online. Please refer to the migration letter for more information.
• After a biller has been added for “Payments (Other Billers),” payments with the new biller are only possible after 24 hours for companies that require only one signature. There is no wait time for companies that require more than one signature.
• You are encouraged to sign in regularly to your online banking services to keep track of transactions, as the system does not issue any alerts when a minimum balance has been reached.

 

To learn more about these features and other offers in National Bank’s online banking services, please refer to nbc.ca/business-online and our demos at nbc.ca/business-demo.

At migration, you will have access to the full National Bank network and will only be able to do your in‑person banking activities in a National Bank branch. Additional services related to coins, banknotes and currencies are available exclusively in a cash branch. Use our branch locator at locator.nbc.ca or sign up for our online banking solutions for easier management of your National Bank accounts and services.

• Deposit of banknotes, coins and cheques
  • Please note that deposit slips must be enclosed with deposits. These slips are available at a branch or at nbc.ca/cash-depository. Our printable electronic deposit slip, which is free, automatically calculates the deposit amounts.
• United States dollar (USD) deposits

National Bank’s around‑the‑clock depository service supports cash and cheque deposits only. Deposits require the use of bags, slips and a deposit key, available at the branch.

 

Note that electronic deposit slips are also available. For more information, please visit nbc.ca/cash-depository.

 

Note that it is important to replace your Laurentian Bank bags and deposit slips with those available at National Bank branches.

 

National Bank offers digital cheque deposits with a mobile device or using a scanner. These are quick, secure solutions that save you time while improving your cash flow management.

Please note that this service will no longer be available at migration and it will no longer be possible to make deposits to your business account using TD Remote Deposit that was available in certain branches in Ontario only.

 

After migration, make all your cash or cheque deposits with one of the deposit solutions offered by National Bank. National Bank’s extensive branch and ABM network, as well as our mobile cheque deposit solutions, will make it easier for you to make your daily deposits.

 

In addition to in‑branch deposits, we offer additional solutions that can be found in Section 5. Cash Management Services. These solutions could now better suit your needs: digital deposit with scanner, mobile deposit, or Smart Safe (conditions apply for eligibility).

National Bank offers a network of ABMs for making envelope‑free deposits and withdrawals and to access your accounts. ABM deposits are available for banknotes (CAD) and cheques (CAD) only. USD deposits can be done in‑branch. USD cheques can also be deposited using our digital deposit with scanner service. Please note that you also have the option to pay your bills via our network of ABMs.

 

As part of the welcome offer, you will benefit from a service fee exemption on unlimited cheque deposits and unlimited withdrawals at National Bank ABMs until February 28, 2027.

 

For more information on our standard fees, please refer to our Fee Guide for Banking Services for Businesses at nbc.ca/lbc-business-legal.

 

For a complete list of ABM locations, please refer to locator.nbc.ca.

You will be able to access your new National Bank account numbers within your online banking profile before migration, and notify your payment solution providers, beneficiaries and payers of the change. However, please be aware that any payments directed to or made from your National Bank account prior to your migration date will be rejected.

 

Refer to the migration letter for further information about your migration.

Cheques drawn on Laurentian Bank business current accounts and presented for payment up to 6 months after migration will be accepted and paid out of your National Bank account.

 

Cheque images will appear exclusively in electronic statements.

 

To ensure efficient and timely access to your funds, you are encouraged to use National Bank cheques after migration. After the migration, National Bank cheques can be ordered directly through the online banking platform or by calling the National Bank Client Experience Centre (CEC).

 

To place your order, refer to your National Bank account numbers in the online banking platform. As part of the welcome offer, your first cheque order made before February 28, 2027, will be completely free, up to a maximum of $200.

Your migration experience is important to us, and we are available to support you along the way. For more information, please:

• visit nbc.ca/lbc-business for the most up‑to‑date migration information and refer to the frequently asked questions (FAQ);
• call the National Bank Client Experience Centre (CEC) at 1-844-394-4494.