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FAQ

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Top questions         General          Brokerage Platform          Accounts          Tools


 

Top questions

I can't make a withdrawal or a conversion when the cash is in my account. Why?

Here are two possible situations:  

  • When you make a sale in your TFSA, you must wait until the day following settlement to withdraw the proceeds from your account.
  • When you make a sale in your non-registered account, you must wait until the settlement date to convert the proceeds (in another currency) or to transfer the amount out from your account.

Why doesn’t the correct pricing apply to my account when I trade stocks online?

To benefit from our favourable pricing, you must receive all your documents through electronic delivery (trade confirmations, portfolio statements, and tax slips). Learn how to sign up with our video tutorial.

How to open an NBDB account if I cannot reach an agent by phone?

It’s easy:

  • Fill out the corresponding form for the account you want to open.
  • The new account will be added to your profile within 2 to 5 business days. You will receive a notification email as soon as it is open. 

I hold a registered account with another broker. How can I transfer these assets to the RRSP or TFSA I hold with NBDB? 

Expect a delay of approximately 10 business days upon receipt before your transfer is completed.

How do I make a withdrawal from my TFSA and transfer it to an external bank account?

There are two ways to do this:

  • You must first deposit the amount into a Cash or Margin account before transferring the funds to the external bank account.
  • You can also use an “Income Sweep” to automatically transfer the funds withdrawn to the bank account which is linked to it. If you don’t hold such an account, write to us via secured messaging on our transactional site to request that we open one for you.

General

What documents are available on the online brokerage platform?

You can view your trade confirmations online via your brokerage account. Simply sign in, then click eServices and go to Electronic Documents.

N.B.: Online documents are archived and remain available for seven years as long as the account remains open.

Why don't I receive trade confirmations by mail anymore?

If you have not modified your preferences to receive them by mail, they are available online. You can access them under the Electronic Documents tab of your brokerage account.

How do I receive documents by mail?

Your trade confirmations are available online. If you would prefer to receive them by mail, simply change your delivery preferences online as indicated below or contact a representative. You can change your delivery preferences at any time without charge.*

How to change your delivery preferences online:

  • Sign in to your online brokerage account
  • Click eServices
  • Go to Electronic Documents
  • Click Delivery Preferences
  • Choose Electronic or Paper

*N.B.: To be eligible for the zero commission on ETFs offer, you must opt to receive your documents online. 

How can I keep up to date with your new products and services?

Sign up for our newsletter to get the latest trading news and stay informed on our products, services and promotions.

What are your fees and commissions?

Fees and commissions depend on the trades carried out. To know more, see our Pricing section.

How do I change my address?

If you also have accounts at the National Bank, you can change your address by signing in to National Bank online. The change will apply to all your accounts.

If you don't have another account, you can send us a message via the trading platform or simply call a representative directly if you prefer.

When will I receive my portfolio statements?

According to securities regulations, National Bank Direct Brokerage is required to send you a portfolio statement:

  • For every month you carried out a trade

OR

  • Quarterly (March, June, September and December) if you didn't complete any transaction.

Brokerage platform

On this page

Discovering the new platform         Using the platform         Trading online         Book value


 

Discovering the new trading platform

Why have you changed the online NBDB platform?

To make it more streamlined and user friendly. For example, you can now display the asset details for multiple accounts at the same time, and placing a trade is just a click away.

Is the classic version of the platform still available?

Yes. The classic version will be available until further notice. You can access it by clicking on Back to the classic version at the bottom of the page.

Will my username and password remain the same?

Yes, they will remain the same, but your username will not be displayed automatically on the new sign in page. We therefore invite you to make note of it and to save it once again when you first sign in to the new platform.

Are all of the old platform’s features available on the new one?

The new platform is still evolving. Most features from the old platform are available, but some have not been added yet. 

What do I do if the old website was saved to my favorites?

The old transactional site’s login page is still available. This Summer, you will be redirected automatically to the new platform when you access it. However, we recommend adding the new address to your browser’s favorites once it is available.

Will my personnalised functionnalities be saved on the new platform?

No. Only your delivery preferences will be saved. You will need to reconfigure the other items that you had previously customized.

How can I place a trade on the new platform?

By choosing the account in which you want to place the trade and clicking Buy or Sell at the top of the page. A trade ticket will open allowing you to enter the symbol and quantity. A market order is indicated by default, but you can modify it to set a limit price and change the expiration date.

If I saved my username and password on my browser, will they still be saved when I sign in to the new site?

Although your username and password will remain the same, they will not be displayed automatically on the new sign in page. You can save them once again when you first sign in to the new platform. 

How can I transfer funds?

At the top of the page, click on Transfer. You can transfer funds between selected accounts.

Using the trading platform

How do I sign up for the online trading platform?

To sign up: click Client Access and then Sign up (at the top of the page). Then just follow the steps as they appear on the screen.

How do I sign agreements online?

Enter your full name. This replaces your handwritten signature and has the same legal standing.

How can I view agreements in French?

A link to the French version of each agreement is available below the introductory paragraph.

What are the username and password requirements?

  • The 8-digit username is generated by our systems and cannot be changed.
  • Your password must not contain your name.
  • It must include at least 8 alphanumeric characters (including at least one letter and one number). Passwords are case-sensitive.

I forgot my password. What should I do?

If you have a personal account, just click Forgot your password? to reset it. If you don't have a personal account or have not previously set up your security questions, call us at 1-800-363-3511, option 4.

I entered my login details, but nothing happened. What can I do?

Try restarting your browser. If the problem persists, call one of our representatives at 1-800-363-3511, option 4.

For the past few days, I've been getting a message stating that the site is unavailable. What should I do?

If the problem persists, try clearing your cookies and temporary files. If you are not sure how to proceed, one of our representatives can help. Call 1-800-363-3511 and choose options 4 and 2.

Can I access all my brokerage accounts (joint accounts, company accounts, trust accounts, etc.) in the same place?

You can access all your accounts under the same user code. To add an account, call a representative at 1-800-363-3511.

I've signed in, but I can't see all my accounts. What do I do?

Use the drop-down menu in the Summary section to select the account you want to view.

If you don't see this drop-down menu, call a representative at 1-800-363-3511.

How can I confirm that I've logged out securely?

When you log out, the following message will be displayed:

img-signout-766X365.JPG

How do I set up alerts?

Simply sign into your account and click on Tools, then Alerts.

What are the requirements to be considered a securities professional?

You are considered a securities professional if:

  1. You are registered with or given the right to practice by one of the following organisations :

    • Provincial securities commission
    • Securities Exchange Commission
    • Commodities Futures Trading Commission
    • Any government, state or provincial securities agency
    • Any association or stock market
    • Any commodities or futures market

  2. You exercise the profession of "investment advisor" as defined by the securities legislation of a province or state (whether or not you were registered or certified).

  3. You are employed by a bank or financial institution exempt from registering under federal and/or provincial securities legislation, where your role requires you to be certified or registered if you were previously employed by another non-exempt organisation.

 

 

What's the Dow Jones Morning Briefing? How do I sign up?

The Dow Jones Morning Briefing is a daily newsletter produced by the Dow Jones team of analysts exclusively for NBDB clients. It will keep you up to date on market trends and in touch with the latest developments.

To consult it, sign into your brokerage account and click on Quotes & Markets, then Dow Jones Morning Briefing. You can also subscribe to receive the Dow Jones Morning Briefing by email. The link is accessible below the newsletter.

Trading online

How do I place trades in my NBDB account?

There are two ways to trade:

Online, via your computer, mobile device and smart phone; or by calling a representative. Get more information on our trading tools.

You could save on fees by trading via digital channels.

What investment products can I trade online without calling a representative?

The following products are available online:

  • Stocks and exchange-traded funds
  • Options
  • Federal, provincial, municipal and corporate bonds
  • Mutual funds
  • Exchange-traded debentures

To trade the following products, you will have to call a representative:

  • Fixed-and variable-rate GICs
  • Linked notes
  • Savings bonds (federal and provincial)

What investment products can I trade with NBDB?

Diversify your portfolio with our wide range of investment products: stocks, bonds, exchange-traded funds (ETFs), mutual funds and fixed-income securities.

All these products can be traded online. Learn more about our products.

 

How do I check the status of an order online?

You can check the status of your orders by signing in to the platform and clicking on Transactions – Current Orders and Instructions.

When I try to trade options, I get an error message. How can I add options trading to my NBDB account?

Simply complete an Options trading request form and send it to our office. We will begin the process of approbation upon reception of the duly completed and signed form.

If your application is approved, you will receive a confirmation by mail and can begin trading options.

I got an error message saying that I cannot trade Pink Sheet stocks. What does that mean?

Over-the-counter markets are subject to different rules than traditional stock markets and so you can only place limit orders. This means you must specify the maximum or minimum price at which you are willing to buy or sell.

When do North American stock markets open and close?

North American stock markets (TSX, TSXV, NYSE, NASDAQ) are open from 9:30 a.m. to 4:00 p.m. (ET). However, we offer extended trading hours which vary depending on the type of investment for transactions done by phone only.

Do you charge trading fees?

Yes. Fees may apply depending on the type of transaction. Note that commissions are also charged for certain trades, including stocks, exchange-traded funds, options and some mutual funds. Visit our Pricing section for more information on applicable fees.

I don't have a computer. How can I place an order?

You have two options:

  1. Trade via the mobile version of our trading platform. You can place orders from your smartphone or tablet. Applicable commissions will be the same as when placing orders from a computer. 
  2. Call a representative. Note that the commission fee will be higher for orders placed by phone with a representative.

For more information, consult the Pricing section

Book value

What is the book value?

The book value is the amount you invested in a security, including the commission charged for the purchase. It corresponds to the total number of shares held multiplied by their average unit cost.

You can check the book value of your holdings on your portfolio statement or via the online platform.

Can I use the book value for tax purposes?

The book value we provide is intended for information purposes only. You can use trade confirmations, portfolio statements, transaction summaries and T5008 slip for tax purposes, but you must ensure that all information presented is accurate.

For more information about the T5008 slip, please refer to our section on tax slips or to our FAQ on this topic.

What happens if the book value is unknown?

In such cases, the book value can be determined by the market value. This can happen when assets are transferred from another financial institution.

Where can I find the information and documents I need to determine the book value?

This information can be found on your trade confirmations and portfolio statement, as well as on the transaction summary you receive at the start of each year for the previous tax year.

What happens if I don't have the information and documents I need to determine the book value?

Contact customer service. They can do some research and send you the documents you need. An administrative fee will apply.

You should then complete the Book value adjustment form and return it to us by email or fax with supporting documents, if necessary.

Please note that, in the event of an asset transfer, we will enter the value provided by the delivering institution in your account. We cannot verify the accuracy of the book value provided. Learn more.

When is proof required to adjust the book value?

  • For a registered account: a proof is required to justify the adjustment 
  • For non-registered account: it is not necessary to attach a proof to the book value adjustment form.

There is an error in the book value form I provided. How do I correct it?

If you notice an error, let us know as soon as possible.

What to do:

  • Complete and sign a new Book value adjustment form and return it to us by email or fax
  • Include proof of the changes, if required (trade confirmations, portfolio statements or transaction summaries are acceptable).

Note that:

  • We must receive the duly completed and signed book value form to make the changes.
  • You should keep the original proof and send us copies. If you send us the original documents, they will not be returned.

What book value should I enter if different prices were paid for the same security?

The book value is the average price paid for the security.

The book value of my mutual fund is incorrect. Why?

The data are provided by the respective mutual funds company. In case of discrepancy, please return the completed and signed form to our office and we will make the necessary changes.

Why is the book value of my stock position unknowned?

If the book value is unknown, it will be calculated based on the market value. For various reasons, it may not be possible to calculate the market value. In such cases, the value will be displayed as N/A (not available).

Can I provide the book value when I deposit a stock certificate?

You can adjust the book value of your securities at any time. When you deposit a stock certificate at a National Bank branch, just include the completed and signed Book value adjustment form.

I recently transferred shares from another institution, and the book value on my account statement doesn't match my calculations. Why?

We entered the value provided by the delivering institution in your account. We cannot verify the accuracy of the book value provided.

To correct the situation, simply complete and sign the Book value adjustment form and send it to us by email or fax, along with copies of supporting documents, if necessary.

Accounts

On this page

Account types

How does a tax-free savings account (TFSA) work?

Here are few information about the TFSA:

  • A TFSA is a government-registered account that allows you to grow your savings tax free, whatever your annual income. You pay no tax on withdrawals either.
  • Unused contribution room can be carried forward to future years.
  • Withdraw from your TFSA any time, for any reason.
  • Any amount withdrawn is added to your contribution room in the following year. For example, if you withdrew $3,000 from your TFSA in 2015 and re-contributed that amount in 2016, you would still be able to contribute another $5,500 that year (your annual contribution room for 2016).
  • TFSA income and withdrawals from the account do not affect your right to income-based federal benefits or credits.

For more information, consult the National Bank's page on TFSAs.

I'm turning 71 this year. Do I need to convert my RRSP to a RRIF?

Your plan must be converted by December 31 of the year you turn 71 (not by your birthday).

For more information, consult the National Bank's page on converting RRSPs.

Why do I need to enter my spouse's age to calculate my RRIF withdrawals?

You can calculate your minimum required withdrawals using your age or your spouse's age. Making the minimum withdrawals allows you to grow your RRIF while spreading out your payments over a longer period. Your mandatory minimum withdrawals will be smaller if you use the age of the younger spouse for the calculations. Under Canada Revenue Agency regulations, this choice is irrevocable, even in the event of divorce or death. This option is only available when you open the RRIF.

How do I calculate the minimum withdrawal amount for my RRIF or LIF? Is there a maximum withdrawal amount?

NBDB calculates your minimum RRIF or LIF withdrawals at the start of each year. It is based on the fair market value of your plan as at December 31 and your age (or the age of your spouse, depending on your decision when you opened the account).

Maximum amounts:

  • No maximum RRIF withdrawal amount
  • Your maximum LIF withdrawal amount is calculated based on the same criteria as your minimum amount

The minimum and maximum (if applicable), as well as the frequency, are indicated on your portfolio statement and in your online brokerage account under Accounts > Registered Accounts.

N.B.: Make sure you have enough cash in your RRIF or LIF to make the withdrawals. If the cash held at the time of the withdrawal is insufficient, you will be charged interest on the debit balance and the equivalent of a telephone commission if we have to sell a product to cover the debit. See the commission and General fee schedule.

What are the differences between the various federal locked-in plans?

Type of plan Jurisdiction Withdrawal options Transfers
LRSP
Federal
  • Withdrawal for financial hardship
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from a pension fund, another LRSP or a LIF.
RLSP
Federal
  • Withdrawal for financial hardship
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from another RLSP or a RLIF.
LIF
Federal
  • Withdrawal for financial hardship
  • Withdrawal of small amounts
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from an LRSP or a LIF under federal jurisdiction
RLIF
Federal
  • Withdrawal for financial hardship
  • Withdrawal of small amounts
  • Unlocking up to 50% of funds
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from an LRSP, an RLSP, a LIF or another RLIF.
Type of plan
Jurisdiction
Withdrawal options
Transfers
LRSP
Federal
  • Withdrawal for financial hardship
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from a pension fund, another LRSP or a LIF.
RLSP
Federal
  • Withdrawal for financial hardship
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from another RLSP or a RLIF.
LIF
Federal
  • Withdrawal for financial hardship
  • Withdrawal of small amounts
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from an LRSP or a LIF under federal jurisdiction
RLIF
Federal
  • Withdrawal for financial hardship
  • Withdrawal of small amounts
  • Unlocking up to 50% of funds
  • Shortened life expectancy
Amounts transferred into this type of plan must originate from an LRSP, an RLSP, a LIF or another RLIF.

How can I get additional grants or Canada Learning Bonds?

Complete the appropriate form available on our website and mail it to us. Please use the following forms:

SDE0093 – Canada Education Savings Grant and Canada Learning Bond application

ANNEX B – Primary caregiver* or their spouse and/or custodial parent/legal guardian

ANNEX A – Additional beneficiaries

Once your file is up to date, we will communicate all the information to the government.

 

*The primary caregiver is the person who receives the Canada Child Benefit (CCB).

For an RESP, who is the beneficiary's primary caregiver?

The primary caregiver is the person or organization primarily responsible for the care and upbringing of the child. A primary caregiver can be an individual or a public entity.

An individual primary caregiver is the person eligible to receive the Canada Child Benefit (CCB) for the child, as defined in the Income Tax Act. This can be the mother, father, grandparent, or a guardian.

A public primary caregiver is a department, agency, institution or organization eligible to receive payments under the Children's Special Allowances Act for a child in its care.

Does the same process apply for a family RESP?

Yes, the process is the same for individual and family RESPs. You will have to complete one form per child (beneficiary).

What's the maximum RESP contribution?

The maximum contribution is $50,000 per beneficiary for the duration of the plan.

I'm not the child's primary caregiver. How do I determine net family income?

Always use the net family income of the child's primary caregiver.

When will the Canadian Education Savings Grant (CESG) be deposited into my account?

Grants are paid at the end of the month for the previous month's contribution. For example, if you make a contribution in June, the corresponding CESG payment will be deposited into your account at the end of July.

The government will use your latest income tax return to determine if you are eligible for additional grants.

To receive the Canada Learning Bond (CLB), am I required to make additional RESP contributions?

No. Even if you do not contribute to the RESP, the government of Canada will deposit an initial CLB payment of $500 and subsequent CLB payments of $100 a year as long as you remain eligible (until the child reaches age 15).

The lifetime maximum CESG contribution for each child is $7,200. Does the CLB count towards that amount?

No. The CLB is not included in the $7,200 maximum. The child is entitled to $7,200 in CESG payments, plus an initial CLB payment of $500 and subsequent CLB payments of $100 a year for 15 years, as long as he or she remains eligible. The child can also receive up to $2,000 in additional grants over the duration of the plan.

Opening an account

How do I open an account?

There are 3 ways to open an account:

  • Online
  • By phone
  • At a branch

Interested in learning more? See our page Opening an account.

What types of accounts can I open?

We offer a variety of registered and non-registered accounts and a full range of investment products. Individual, joint and business accounts are available.

For more information, see our page Types of accounts.

Do I have to make a minimum deposit when I open an account?

No minimum deposit is required to open an account at NBDB.

Is there an account opening fee?

There's no fee to open an account at NBDB, but certain accounts do have annual management fees.

For more information, see our fee structure.

How do I transfer an account held at another financial institution to NBDB?

Simply complete the relevant transfer form and send it to us along with your latest portfolio statement.

To access the forms or get more information about the transfer procedure, see our page on transferring assets and accounts or contact a representative.

Is NBDB's online account opening form secure?

Yes. NBDB uses the same level of encryption as the National Bank. A closed lock will pop up in the lower right-hand corner of the screen to confirm that the form is secure.

Can I open more than one account by completing a single account opening form?

Yes. You can open several accounts by completing a single account opening form. However, they must be different types of account and the account category (individual or joint) must remain the same. For example, you could open an RRSP, a TFSA and a margin account by completing a single application.

I don't see the type of account I want to open. Why?

At this time, only personal accounts and accounts with spousal contributions can be opened online. To open a business account or a non-personal account, contact a customer service representative.

Do I have to be a National Bank client to open an NBDB account?

No. You don't have to be a National Bank client to open an online brokerage account with NBDB. Interested in learning more?

See our page Opening an account.

Do I have to be a resident of Canada to open an account?

Yes. NBDB is not registered as a securities broker outside Canada.

Why do you need to know how many dependents I have?

This information is required by Canadian securities regulators. It also helps us understand your personal situation and needs.

Why do I have to provide information about my job?

This information is required to assess your creditworthiness and determine if you are employed in the securities industry or a reporting insider.

We need to collect this information because specific regulations apply to transactions in accounts belonging to employees of securities firms and reporting insiders.

Why are you asking me for a banking reference?

The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations require the broker (NBDB) to obtain a banking reference for each brokerage account holder. This information is required even if you have a National Bank account.

Why are you asking me how I plan to use my accounts?

The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations require the broker (NBDB) to identify the intended use of every brokerage account.

The following options are available:

  • Short-term savings: You want to use the account to save over the short term (e.g., cash account).
  • Specific project: You are saving up for a specific goal (e.g., real estate investment, education, buying a car, retirement).
  • Long-term investment in the market: You plan to maintain the investment in your account over the long term.
  • Speculating: You plan to trade frequently to get results over the short term.

Why are you asking for my previous address?

When you state that you have lived at your current address for less than 12 months, we are required to verify your identity in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations by obtaining your previous address.

Where can I find my banking information (bank account, transit and institution numbers)?

Your bank account information appears on your personal cheques.  

  • The transit number is the 5-digit number immediately after the cheque number (the first number at the bottom of the cheque).
  • The institution number is the 3-digit number after the transit.
  • The account number is the 7-digit number after the institution number.

Why do I have to print my account opening application?

Although you can submit the account opening application online, we still need your original signature on the form. Online applications do not comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

Can I submit an application by fax?

No. We need your original signature, so you are required to mail us your account opening application or bring it to a National Bank branch. Applications received by fax do not comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

How long will it take to open the account?

NBDB will open personal accounts within 24 hours of receiving your application. You can then obtain a username and password for the trading platform. We will email you a confirmation when your account has been opened.

If you are opening an account for a legal entity (company, trust, etc.) or a margin account, or adding options trading to an account, allow 72 hours  following the reception of the original signed documents.

Please note that you won't be able to carry out trades or transfer funds to the account until we have verified your identity.

What happens if I don't consent to the disclosure of my personal information for solicitation purposes?

If you don't consent to disclosure for solicitation purposes, NBDB will not offer you other products and services that may be of interest and will not communicate your personal information to affiliated companies or to the National Bank so that they can offer you products and services.

Can I access my online account opening application at any time?

Once you've saved your application, you have 30 days to modify and complete it. Once the completed application is submitted, it can no longer be accessed.

Transferring assets and accounts

What documents do I need to complete an account opening application?

You will need your portfolio statement from the delivering institution (the financial institution that currently manages your assets), which contains the following information:

  • Address of delivering institution
  • Type of account (RRSP, spousal RRSP, LIRA, RRIF)
  • Account currency
  • Full account number (at NDBD, the first six digits are the root and the seventh indicates the account type. The same may apply at other financial institutions. Be sure to check before you submit your application.)

We recommend including a recent copy of your portfolio statement from the delivering institution with the transfer form.

Which form should I use?

Access all the documents and forms you'll need to open and run your brokerage account, transfer funds, designate a beneficiary, revoke a power of attorney, and more on our Forms page.

Is my transfer form properly completed?

Here are a few things to check:

  • Did you enter your name, the account currency and the full NBDB account number (7 digits)?
  • Did you enter the currency and number of the account to be transferred, as well as the name and full address of the delivering institution?
  • Did you specify the type of transfer (in assets or in cash)? A cash transfer means that all positions will be liquidated before transfer. Commissions may apply.
  • Did you specify if it is a transfer in part or in full? If it is a transfer in part, did you specify the assets to be transferred?
  • Did you sign and date the form?
  • If there is an irrevocable beneficiary, did they sign the form?
  • Did you include your most recent portfolio statement?

If you need help, one of our representatives will be pleased to answer your questions.

How long will it take to transfer my account?

The timeframe for transfer can vary depending on the delivering institution and the type of investments transferred.

N.B.: Timeframes provided are for information only. In peak periods, transfers may take longer than expected. Missing or incomplete documents may also delay processing.

ATON transfers

The ATON system, used by numerous brokers, allows for automated transfers. Contact a representative at 1-800-363-3511 (toll-free) or 514-866-6755 for a list of participating institutions. Estimated timeframe in business days (after a request is initiated).

 

Canadian securities
U.S. securities
Options and Mutual Funds Foreign and OTC securities
Guaranteed investment certificates
4 days  7 days 7-12 days 20 days 20-30 days
Canadian securities
U.S. securities
Options and Mutual Funds
Foreign and OTC securities
Guaranteed investment certificates
4 days
 7 days
7-12 days
20 days
20-30 days

 

Non-ATON transfers

Transfers from institutions that do not use the ATON system (around 60% of requests) require manual processing. Estimated time to transfer assets (after a transfer request is sent to the delivering institution or after a GIC matures).

 

Banks/Credit Union
Mutual Fund Companies Trust / Insurance Companies
Employers / Pension Funds/ 
Government Agency

4 days  7 days 7-12 days 20 days
Banks/Credit Union
Mutual Fund Companies
Trust / Insurance Companies
Employers / Pension Funds/ 
Government Agency

4 days
 7 days
7-12 days
20 days

How can I transfer my assets more quickly?

Your transfer could be delayed or interrupted for various reasons. Here are a few situations that could cause problems:

 

Situation
Comment
The two accounts must be in the same name
The names and social insurance numbers must match. For instance, assets cannot be transferred from a joint account or a business account to a personal account.
An account in good standing For instance, the transfer could be delayed if a margin call is triggered.
The accounts must be of the same type
For instance, you can't transfer assets from a non-registered account to a TFSA.
A transfer in full cannot be carried out if the account contains a non-transferable product The transfer will be rejected and you will have to submit another request.
Transfer of a RRIF
RRIF: The delivering institution must make the minimum payout before the transfer can go through.
Transfer of a LIF LIF: The delivering institution must make the minimum annual payout before the transfer. We will not be able to make any further payouts for that year.
Transfer of a locked-in plan
Before submitting a transfer request, make sure the account is opened under the correct legislation.
Your mutual fund is held directly via the mutual fund company, not through a broker You must submit a signed transfer form for each mutual fund company.
Transfer of a GIC Some financial institutions require you to submit a request two weeks before the GIC matures.
Situation
Comment
The two accounts must be in the same name
The names and social insurance numbers must match. For instance, assets cannot be transferred from a joint account or a business account to a personal account.
An account in good standing
For instance, the transfer could be delayed if a margin call is triggered.
The accounts must be of the same type
For instance, you can't transfer assets from a non-registered account to a TFSA.
A transfer in full cannot be carried out if the account contains a non-transferable product
The transfer will be rejected and you will have to submit another request.
Transfer of a RRIF
RRIF: The delivering institution must make the minimum payout before the transfer can go through.
Transfer of a LIF
LIF: The delivering institution must make the minimum annual payout before the transfer. We will not be able to make any further payouts for that year.
Transfer of a locked-in plan
Before submitting a transfer request, make sure the account is opened under the correct legislation.
Your mutual fund is held directly via the mutual fund company, not through a broker
You must submit a signed transfer form for each mutual fund company.
Transfer of a GIC
Some financial institutions require you to submit a request two weeks before the GIC matures.

What products cannot be transferred to NBDB?

Certain products cannot be transferred to NBDB. Here are a few examples:

  • Segregated funds
  • Products from certain mutual fund companies not distributed by or transferable to NBDB. See our complete lists of accepted mutual funds (with and without transaction fees).
  • Private investments
  • Term contracts
  • Certain guaranteed investment certificates (GICs)

To check if a product can be transferred, call a representative au 1-800-363-3511

Will I have to pay a fee when I transfer my account to NBDB?

NBDB does not charge any fees for transferring an account. However, the delivering institution may charge a transfer out fee.

Will NBDB refund transfer fees?

If you transfer at least $10,000 into an InvestCube account or at least $20,000 into a brokerage account, we will refund your transfer fees up to $135. For more information, consult our page on transferring assets to NBDB.

Making deposits and transfers

How can I transfer funds to my brokerage account?

There are four ways to quickly and easily transfer funds:

 

  • Online transfer

Already a National Bank client?

Call us at 1 800 363-3511 to link your bank account to your brokerage account.

Not a National Bank client?

Make your first deposit by cheque so that we have your banking information on file.

 

  • Cheque

The cheque must be made out to NBDB. Be sure to indicate your brokerage account number (7 digits). You can send it to us by mail, bring it to a branch or give it directly to us.

 

  • By calling a representative

Our representatives are available Monday to Friday from 8 a.m. to 8 p.m. ET at 1 800 363-3511.

 

  • From another NBDB brokerage account

Go to the Monetary Transfers section of your brokerage account.

How can I link a bank account to my brokerage account for deposits and withdrawals?

If you have a National Bank account, just call a representative and ask them to link the accounts. It will take 24 hours for the new bank account to appear in the online platform.

If you have an account at another financial institution: 

1.  Send us a cheque for $25 payable to National Bank Direct Brokerage (with your NBDB account number in the notes) to be deposited in your account (do not have a bank branch proceed with the deposit) which will, once compensated, confirm your banking information.

2. Provide us (by email at directbrokerage@nbc.ca) a written confirmation from the bank: a letter on official stationery bearing the branch stamp which confirms your banking information.

How long will it take for money to be transferred to my account?

You have used the trading platform:  if you made the request before 3 p.m. ET, and the funds come from the National Bank, funds will be deposited the same day. If the funds come from another financial institution, they will be available within 48 business hours.

You sent a cheque: if received before 3 p.m. ET the funds will be deposited the same day

You called a representative:

  • Transfers from a National Bank account requested before 3 p.m. ET will be deposited the same day.
  • Transfers from another institution will take from 24 to 48 hours.

What types of transfer are available on the trading platform?