Payments and transactions

You may exchange foreign currencies at National Bank branches. For clients with a deposit account,¹ the following fees apply for the purchase of paper currency:

You can make a transaction in a currency other than the currency of your account. The transaction amount will be converted to the currency of your account at the rate and by the method determined by the network being used. We add a 2.5% fee to the conversion rate used by the network for each transaction.

You cannot make USD transactions on the National Bank app or on National Bank’s online bank.

Wire transfers from your National Bank accounts may be made exclusively in person in National Bank branches. This service is not available via phone, email or National Bank online banking.

Incoming wire transfers on your Laurentian Bank chequing accounts will be redirected and credited to your National Bank accounts for up to 3 months from the migration. Please forward your National Bank account information to the wire payment senders as soon as possible after the migration. Incoming and outgoing wire transfers will be charged according to National Bank’s fees, as described in Section 7. Fee Guide.

Following migration, you will have access to the international transfer feature available on National Bank’s online bank and on the National Bank app, which will enable you to perform electronic funds transfers to over 22 countries around the world.

Bill payments can be made from your National Bank chequing or savings accounts and lines of credit.

Your list of suppliers (known as “payees” at Laurentian Bank) will be transferred to National Bank’s online bank, provided you have signed up for the service. Up to 20 suppliers will be automatically transferred. If you want to add or modify your suppliers after the migration, you will need to enter them manually. Note that certain recurring bill payment frequencies offered at Laurentian Bank, including daily payments, are not available at National Bank.

We therefore recommend that you record the details of your current suppliers as well as recurring and post-dated payments set up with Laurentian Bank; they will need to be manually set up on National Bank’s online bank following the migration.

At National Bank, cheques may be ordered directly through National Bank online banking or the Client Experience Centre (CEC). We recommend that you order cheques as soon as your accounts are migrated. Until February 28, 2027, you may place an initial order of 100 single cheques on your chequing account at no charge. If you have written cheques on your Laurentian Bank accounts, they will be processed in your migrated National Bank account for a maximum period of 6 months starting from the migration.

A hold funds period is the time during which your funds are temporarily withheld before becoming available. This period is essential to make sure the transaction is valid.

Just like at Laurentian Bank, the hold funds period for a cheque is between 4 and 8 business days after deposit. The length of this period depends on the deposit amount and method.

Direct deposits, pre-authorized debits and EDI credits in your Laurentian Bank account will be redirected and processed in your account migrated to National Bank for a maximum period of 6 months starting from the migration.

Please make sure you update your account information with vendors before the end of this 6-month period.

National Bank will honour stop payments for cheques and pre-authorized debits that you have requested prior to migration.

As of the migration date, you will be able to purchase bank drafts from National Bank in CAD, USD and EUR up to a limit equivalent to CAD 10 million at National Bank’s standard rate. For more information, please refer to Section 7. Fee Guide.

In addition, official cheques and bank drafts from Laurentian Bank that have not yet been cashed by the payee will remain valid.

To avoid overdrawing your account, please make sure you have sufficient funds before making a transaction. If your account is overdrawn, you must repay the amount of the overdraft without delay.

Fees and the applicable annual interest will be charged. Interest will begin accruing once the account is overdrawn. For more information, please refer to Section 7. Fee Guide.

Following the migration, you will be able to send and deposit funds via Interac e-Transfer in your National Bank chequing or savings accounts and lines of credit.

While the migration is underway, outgoing Interac e-Transfers that are on hold will be cancelled, and you will need to manually set them up in National Bank online banking. Incoming Interac e-Transfers may be accepted after the migration in National Bank online banking.

The Interac e-Transfer Autodeposit feature is available at National Bank; however, you will need to set it up on National Bank online banking and provide a valid email address or mobile number. The Interac e-Transfer Autodeposit settings that you had at Laurentian Bank will be cancelled and will not be transferred to National Bank.

The Interac Request Money feature is not available at National Bank at this time, but you can accept requests for money sent to you.

The ability to transfer funds to another client using their account number will not be available after migration. Going forward, you will need to perform these transfers using Interac e-Transfers.

You can create Interac recipients via National Bank online banking by using their email addresses or cell phone numbers.

The ability to transfer funds to or from another financial institution by linking your accounts via your online bank will not be available after migration. Going forward, you will need to perform these transfers using Interac e-Transfers.

You can create an Interac recipient on National Bank online banking using your email address or cell phone number.