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National Bank of Canada $300 Cashback Promotion Terms and Conditions

$300 Cashback Offer

Open a checking account online during the promotional period (August 1, 2023 to October 31, 2023) by signing up for the Newcomers Package, The Connected® or The Connected® for Youth through a link on the Borrowell website and complete the required transactions in order to obtain a $300 cashback.

Required transactions

You must:

  • Sign up for Online Banking service and receive your account statements and tax slips online

  • Set up an automated direct deposit of salary or monthly pension to your new chequing account

You benefit from 90 days following the checking account opening to meet the offer conditions in order to obtain the cashback. The cashback will be deposited within 120 days of the checking account being opened.

Exclusions

  • For the Newcomers Package: Clients who do not have the age of majority

  • For The Connected®: Persons who have not reached the age of 14 at the time of opening the account

  • Employees of National Bank of Canada and its affiliates

  • Customers who have received a cash back offer on a checking account since August 1st, 2021

  • The promotion cannot be combined with any other offer, promotion or benefit applicable to National Bank of Canada's checking accounts and banking packages, and is not retroactive

  • Promotion may be modified, extended or withdrawn at any time without notice

  • You agree to abide by the terms of the offer, maintain eligible products and services, and make no changes to such products and services for a minimum of 12 months beginning with enrollment in such products and services. If you do not comply with this condition, you must repay National Bank of Canada an amount corresponding to the period in which you did not keep your eligible products and services within 30 days of receiving a refund request

Newcomers Package

Eligibility criteria

You must:

  • Be 18 years of age or older

  • Apply for 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

Details and Condition of the Offer

Save a minimum of $334.92 over three years if you meet the following conditions:

  • Visit a branch to open a bank account

  • Sign up for our offer for newcomers

Savings of $334.92 based on:

  • First year: no flat monthly fee (savings of $15.95/month for 12 months)

  • Second year: flat monthly fee of $7.98 instead of $15.95 (savings of $7.97/month for 12 months)

  • Third year: flat monthly fee of $11.96 instead of $15.95 (savings of $3.99/month for 12 months)

The full flat monthly fee of $15.95 will be applied to your banking package from the fourth year. To be eligible for savings, you must commit to keeping the account and package for a minimum of 36 months. You will receive no further discounts if the products are cancelled.

Maximum savings of $700.02 over three years

Save up to $700.02 over three years if you meet the following conditions:

  • Visit a branch to open a bank account

  • Sign up for our offer for newcomers

  • During the first year after signing up the offer for newcomers to Canada:

    • Apply for and activate an eligible National Bank Mastercard personal credit card

    • Sign up for eStatements

  • During the second and third year after signing up the offer for newcomers to Canada:

    • Set up salary deposits to your National Bank account and have your pay deposited at least once a month or

    • Make at least two electronic bill payments 7 from your National Bank account every month.

Savings of $700.02 over three years based on:

  • No flat monthly fee for our banking package for newcomers for three years ($15.95/month for 36 months)

  • First order of cheques free ($56.83/order)

  • Small safety deposit box rent-free for the first year ($68.99/year)

The full flat monthly fee of $15.95 will be applied to your banking package from the fourth year.

Note on savings

To enjoy the full savings, you must keep the products and services and carry out all required transactions for a minimum of 36 months, unless otherwise indicated. If you fail to meet the conditions of the offer, your savings will be lower. Your savings will be lower if you do not order cheques or rent a safety deposit box.

If during a given month, you keep your bank account and banking package, but do not keep all of the other products and services indicated or do not carry out all of the required transactions (e.g. only one electronic bill payment per month instead of two), you will be charged National Bank's service fee for that month. The service fee will be $7.98 monthly the second year and $11.96 the third. You will still enjoy monthly savings of $7.97 during the second year and $3.99 during the third.

Finally, if you no longer hold a bank account or banking package for newcomers, you will no longer be eligible for savings.

Banking offer modalities

Our banking offer is available to newcomers from their home countries up to 90 days before arriving in Canada or at any point during your first 5 years in Canada. See the details and conditions of the offer for the full terms and conditions. The offer may be modified, extended or withdrawn, without prior notice, at any time. The offer may not be combined or used with any other National Bank offer, promotion or benefit. Fees may apply for transactions not included in the banking offer for newcomers. For more information on transaction fees, see our Guide to Personal Banking Solutions [PDF].

Telephone assistance service conditions

Telephone assistance service offered by National Bank Assistance Network, valid for 12 months from your account opening date. The content of the packages and terms described are subject to change.

Access to financing

Financing subject to credit approval by National Bank. Certain conditions apply. Eligible credit cards: MyCredit, MC1, Allure, Syncro, Platinum, ECHO Cashback, World and World Elite. Financing subject to credit approval by National Bank. Certain conditions apply.

The Connected®

Discount modalities

Applicable conditions: Discounts are applied upon presentation of supporting documents.

Credit Modalities

Subject to credit approval by National Bank of Canada. Credit charges are not waived with this package. For more information on the Integrated Line of Credit. You must be a Canadian resident and have the age of majority in the province or territory where you live. The credit card application is subject to credit approval.