Financial Product Reviews
If you're a newcomer to Canada, the National Bank Newcomer Banking Package is an excellent choice for getting started with your financial journey in your new country. It's available to all newcomers within 5 years of their arrival in Canada and can easily be opened online. In fact, the account can be opened up to 90 days before you even arrive in Canada, as long as the eligibility requirements are met.
- No monthly fee for the first year
- Personalized phone support for more than just banking info
- Unlimited electronic transactions
- Access to National Bank credit cards
- Continuing fee-free requires signing up for other products
- Be a newcomer to Canada of age 18 or older
- Apply to open an account from your home country up to 90 days before you arrive in Canada, or within 5 years of your arrival
- Be the only user of the account
- Have a valid passport from a country outside of Canada or a Canadian permanent residency card (Newcomers already in Canada)
- Have a Canadian phone number (Newcomers already in Canada)
- Exclusive phone support for personal finance topics, immigration, and more
- Access to a National Bank Mastercard without needing Canadian credit history
- Free paper statements for a year
- 1 year: 7.74%
- 2 year: 7.34%
- 3 year: 6.94%
- 4 year: 6.74%
- 5 year: 6.79%
- 7 year: 7.1%
- 10 year: 7.25%
A Meridian mortgage is a valuable option to consider for anyone refinancing their mortgage or buying a home – the Meridian Closed Fixed Mortgage in particular. You'll get the security and peace of mind that often comes with a fixed mortgage's locked-in rate, which can be held for 120 days after preapproval, and plenty of other conveniences.
- Low, competitive rates
- Unique Self-Employed Mortgage and other types available
- Clients say the customer service is excellent
- Only available in Ontario
- Some details are tricky to find online
- Be a Canadian citizen or permanent resident
- Must be an Ontario resident
- If self employed, must have been operating your business for at least 3 years
- Flex Line, Construction, and several other mortgage types to choose from
- Options for self-employed mortgage applicants
- Freedom to skip 1 mortgage payment every 12 months, penalty free
The National Bank Modest Chequing Account is one of the more basic accounts offered by the National Bank, which gives you big bank security without a huge amount of bank fees. For a max of $10.95 each month (depending on your age and minimum), this chequing account will let you hold and spend your money with ease.
- Discounts available for certain age groups
- Interac e-Transfers are free
- Limit of 30 transactions per month
- Lack of credit card fee waivers
- No welcome bonus offer
- Complicated ABM fees
- Be a Canadian resident
- $5 discount for people 60 and older
- Free for youth under 25
The National Bank High Interest Savings Account is a product from National Bank that clients can use for funds they won't need to use on a regular basis, and it comes with a special interest rate so those funds can grow. It provides much-needed security and trustworthiness for many customers.
- No minimum requirements to earn interest
- Unlimited transfers between accounts
- Set up auto transfers with a "systematic savings plan"
- A standard interest rate
- Only one free withdrawal per month
- Be a Canadian resident
- Be 14+ years of age
- Have a Social Insurance Number
- Access to the systematic savings plan for auto deposits
- Free automatic transfer tool
If you're looking for a top-tier National Bank chequing account, complete with unlimited transactions, overdraft protection, and rebates for your credit card fees, the National Bank Total Chequing Account is the one you want. Account holders even have access to complimentary legal assistance via phone or videoconference, which includes help with estate planning.
- $150 credit card rebate provided
- Enjoy unlimited transactions
- Pre-authorized line of credit available
- Complimentary, unlimited legal and estate advice
- Receive 100 free cheques a year
- Unusual range of monthly fees
- The minimum balance for waiving fees is rather high
- No welcome bonus incentive
- Be a Canadian resident
- Integrated line of credit up to $5,000
- Free legal and estate assistance
- $150 cash back for eligible National Bank credit card applications
- Overdraft protection
- 100 cheques per year, free of charge
The National Bank Connected Chequing Account must have been created with the modern digital lifestyle in mind – the unlimited digital transactions, free Interac e-Transfers, mobile cheque deposits, and other features are precisely what today's mobile-friendly clients are looking for.
- Enjoy unlimited digital transactions
- Discounts on monthly fees for certain age groups
- Discount on credit card fees
- High minimum balance for waiving the fee
- You have to pay for in-branch transactions
- ABM fees are tricky to decipher
- Be a Canadian resident
- Be 14 years or older (to open an account)
For some of us, online grocery shopping has become an essential service in our lives. We can’t go back to the days of wandering grocery store aisles searching for what we need. Not only is the convenience of these services tough to beat, but they also save us time, money, and patience.
- Guaranteed fresh groceries
- Prompt, professional, and friendly delivery service
- Delivery pass for regular shoppers
- Promotions for new customers
- Grocery store prices on the high end
- Delivery isn't available everywhere
- Earn Scene+ points
- Welcome offers for new customers
- 3-month Delivery Pass Trial
- All Curbside Pickups: $0 pickups fees and no minimum order
- Refer A Friend Program
- Curbside pickup available nationwide where participating stores are located
The BMO Performance Chequing Account for Newcomers is part of BMO’s NewStart Program, designed to make your transition to life in Canada smoother and more convenient. Available to permanent residents and foreign workers who have arrived in Canada within the last 5 years, this newcomer chequing account comes with two years of no monthly fees, unlimited transactions, including INTERAC e-Transfer®§ transactions, plus no-fee BMO Global Money Transfers, helping you feel financially at home right away.
- BMO newcomers account has non-BMO withdrawal fees
- Pricey monthly fee after the first two years
- Permanent residents and foreign workers arriving in Canada within last 5 years
- Proof of immigration status required
- No monthly fee for two years
- Earn up to $40 rebate on annual fees for eligible credit cards
- No-fee BMO Global Money Transfers
- Valuable welcome bonus
The BMO Performance Chequing Account for Students is a version of BMO’s Performance Plan Chequing Account with special rates for students. This BMO chequing account is tailored for students and offers no monthly fees, unlimited transactions, and other perks.
- Unlock a sweet $75 GeniusCash bonus with your new account
- Get a $175 welcome bonus
- No monthly fee in this BMO student chequing account
- Unlimited transactions on all everyday purchases
- Unlimited e-transfers up to a certain amount
- Credit card rebate with your chequing account
- Available to international students
- BMO requires proof of enrollment for its student chequing account
- Extra charges on non-BMO withdrawals per month
- Students enrolled full-time in university, college, or private vocational school
- Proof of registration of student status or expected graduation required
- Annual credit card rebate of $40 on eligible BMO credit card
- Stays no fee for up to 12 months after graduation
- New account holders earn a cash bonus










