General brokerage fees

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Transaction and transfer fees | Specialized services fees | Other fees

Save on annual administration fees

$100

annual fee¹ divided between
all your accounts

$0

annual fee¹ if one of the conditions opposite is satisfied

You don't pay the fee if:

You have assets of $20,000 or more as of May 31²
You carry out at least 5 commission-generating stock, ETF or option trades between June 1 and May 31*
You only have an InvestCube account

*The year runs from June 1 to May 31.

Transaction and transfer fees

Description	Fees
RRSP³, RRIF, LIF or LIRA withdrawal	$50/operation
Internal transfer between registered accounts	$100/operation
NSF cheque⁴	$45/operation
Excess contribution reimbursement	$100/operation
Bank transfer	$75/operation
Total or partial transfer to another institution (plus commission if applicable)	$150/account

Specialized services fees

Description	Fees
Administration of restricted shares (+ commission if applicable)	$250/transaction
Custodial services for a client	$30/security/month
Donation or substitution of securities (max. $150)/transaction	$50/position
Registration/delivery of certificate	$50/operation
Registration/delivery of certificate (rush)	$200/operation
Deposit of a stock certificate	$100/operation
Estate settlement	$200/succession

Other fees

Description	Fees
Investigation or confirmation request	$50/operation*
Gains and losses report (upon request)⁵	$50/item
Covering a debit balance in a RRIF/LIF account caused by a pre-authorized payment⁷ (+ commission if applicable)	$25/operation
Duplicate statements or confirmations⁶	$10 /item
Duplicates for a third party	$100 /year
Unclaimed accounts/Accounts for which the address has been unknown for at least 12 months and accounts referred to the Curateur public du Québec or a similar organization in another province.	$80 /account

*Depending on the complexity of the client's request, NBDB reserves the right to charge an hourly rate of $50.

The fine print

Calculating administration fees and fee exemptions

1. Annual administration fees and exemptions are calculated on all accounts held by a client, rather than on each individual account. For example, if none of the fee exemption criteria are satisfied, the annual fee of $100 will be divided between all of the client's accounts.

When multiple accounts are held under the same account root, the annual administration fee of $100 will be divided according to the number of active accounts. The fees will be charged in each active account on a prorated basis. The term “active” refers to any account with a positive balance or within which a security is held. For example, clients with two (2) active accounts will pay $50 for each account. Clients holding three (3) active accounts will pay $33.33 for each account, and so on.

2. The criteria for fee exemption must be satisfied on May 31 of each year to avoid annual administration fees.

Notes on transaction and transfer fees

3. Including Lifelong Learning Plan (LLP) and/or Home Buyers’ Plan (HBP) withdrawals.

4. Including electronic transfers with insufficient funds, NSF cheques, refused automatic withdrawals and stop payments.

Notes on other fees

5. This report is prepared upon request, to facilitate the management of your portfolio. However, your trade confirmations and account statement are the only official National Bank Direct Brokerage documents issued. National Bank Direct Brokerage does not guarantee the completeness and accuracy of the data contained in this gains and losses report.

6. Including account statements, trade confirmations, tax slips and RRSP contribution receipts.

7. These fees apply if National Bank Direct Brokerage must sell securities in your account to cover a pre-authorized RRIF/LIF payment.

Notes on GST and provincial taxes

GST and provincial taxes are billed where applicable. The commission and fee schedule may be modified at any time. General fees are payable in the currency of the account. Any administrative operation or transaction not specified in the commission and fee schedule may generate additional charges. Other charges may apply, including but not limited to, all re-registration fees incurred from the transfer agent, legal representative or issuing company.

General fees