The USD Progress Account

Maximize your American dollars

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At a glance

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Current maximum interest rate¹

$5000

minimum balance required to generate interest

Perfect if you are looking to:

travel to the United States
benefit from a favorable exchange rate with withdrawals
make cheques in USD

Open your account in three easy steps

Make an appointment

Make an appointment at the branch of your choice.

Meet with an advisor

Talk to one of our experts to get tailored advice.

Start saving

Enjoy the benefits that come with your account!

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Tip

Are you traveling soon? Leave with peace of mind. Order foreign currencies online.

The USD Progress Account includes:

Transactions²

Online, mobile and telephone banking transactions

Account inquiries: balances, transaction history, etc.
eStatements

Branch transactions³

At National Bank branches

Withdrawals, transfers, withdrawals for bill payment:
- No fee
Bill payments²: USD 2/bill

Other services and features

Cheques and pre-authorized debits

Cheques:
- USD 1.25/cheque
Preauthorized debits:
- USD 1.25/transaction

Complementary banking services

Personalized cheques: According to provider's rates
Paper statements by mail : USD 2.50/month/account
Online statement free of charge
Access to cheque images
Overdraft protection: USD 5/transfer (max. USD 5/day)
Bank drafts in foreign currency⁴:
- USD 5,000 or less: USD 9.00/draft
- Over USD 5,000: USD 12.50/draft

Tip

Make your savings in US dollars even more profitable with a non-redeemable USD GIC.

Little details that matter

Additional information

With the USD Progress Account, transactions cannot be carried out at ABMs, through your online bank or with a debit card at points of service. However, you can track your transactions through National Bank online. Fees for this account are charged in USD. For more information on fees for National Bank's products and services, consult the Fee Guide.

The passbook option has not been available to new clients since May 4, 2015. If you are an existing client who uses a passbook with your account, a $2.50 monthly fee is charged.

Legal Disclaimers

^TM Progress Account is registered trademark of National Bank of Canada.

^® The Interac and Interac e-Transfer are registered trademarks of Interac Corp. Used under licence.

1. Interest is calculated at the end of each day on the total daily balance if it is USD 5,000 or more. No interest is paid if the total daily balance is less than USD 5,000. Interest is paid monthly. Tiered, variable annual interest rate based on the account balance, subject to change without notice. See current rates.

2. Transactions carried out using our Automated Services or National Bank online.

3. Banking services usually provided at National Bank branches during normal business hours, including deposits, withdrawals, transfers, bill payments, foreign exchange transactions, purchase of travellers cheques or drafts and use of safety deposit boxes.

4. For USD bank drafts, applicable fees are in USD.

Deposits in a USD Progress account are covered by the Canada Deposit Insurance Corporation (CDIC). Find out more about the coverage offered by CDIC.