National Bank RESP review

Review date: 2026-09-15

Promoter check: Canada.ca rows seen for National Bank Savings and Investments Inc. and Natcan Trust Company; direct Canada.ca fetch timed out on review day, so exact-row wording is provisional from indexed snippets. Indexed Canada.ca rows show Basic CESG, Additional CESG, CLB, and BCTESG as offered.

Basic CESG: yes Additional CESG: yes CLB: yes BCTESG: yes QESI: unclear

Annual fee: Verify with provider — Varies by path: NBDB $100 per root, waived with $20,000+ eligible assets, age 30 or under, or qualifying offers; NBF Wealth RESP $35 electronic / $50 paper; branch annual fee not confirmed. Transfer-out: $150 — NBDB $150 per account plus commissions; branch $150 from Oct 26, 2025; NBF Wealth transfer $155 / closing $150.

Supported grants and incentives

Basic CESG: offered on the Canada.ca RESP promoters list for National Bank Savings and Investments Inc.
Additional CESG: offered on the Canada.ca RESP promoters list for National Bank Savings and Investments Inc.
Canada Learning Bond (CLB): offered on the Canada.ca RESP promoters list; NBDB forms host the CESG/CLB application.
B.C. Training and Education Savings Grant (BCTESG): offered on the Canada.ca RESP promoters list; NBDB forms host the BCTESG annex.
Quebec Education Savings Incentive (QESI): Revenu Québec lists National Bank Financial Inc. and National Bank Savings and Investments Inc., but no public NBDB QESI application guide was found, so the self-directed workflow needs direct confirmation.

Account types

Individual RESP.
Family RESP.
Branch, NBDB self-directed, and NBF Wealth paths each open RESPs under different promoter and trustee arrangements.

Fees

NBDB charges a $100 annual administration fee per account root, waived with $20,000 or more in eligible assets at May 31, age 30 or under, InvestCube-only use, or qualifying professional and newcomer offers.
NBDB online stock and ETF trades are $0; options are $0 plus $1.25 per contract with per-trade minimums and maximums in the fee schedule.
NBDB RESP withdrawals are free; cheque withdrawals and non-NBC wires are $50 each.
NBDB paper trade confirmations are $2.50 per trade and portfolio statements $7.50 per root.
National Bank Financial Wealth RESP path lists $35 electronic or $50 paper annual fees, a $155 account transfer fee, and a $150 registered-account closing fee.
Branch registered-plan fee notices moved outside transfers to $150.00 from October 26, 2025, with withdrawals free.

Transfer process

NBDB directs RESP transfers to federal form SDE 0100 plus Quebec form TP-1029.8.IQ when QESI is moving.
The transfer form allows cash or in-kind elections and full or partial amounts, with CLB and BCTESG transferable in any proportion.
Additional CESG requires the receiving promoter to agree to administer and report it, otherwise Basic and Additional CESG must be repaid with loss of grant room.
NBDB reimburses incoming transfer fees up to $150 on transfers of $20,000 or more; no public NBDB RESP transfer timeline was found.

Withdrawal process

NBDB instructs callers to phone 1-800-363-3511, hold sufficient cash, then send proof through the secure Message Centre.
Proof must show beneficiary name, institution name or link, session, and full- or part-time status, valid six months from session end.
NBDB and branch pages state $8,000 first-13-week EAP caps for full-time study and $4,000 for part-time study while eligibility continues.
Branch withdrawals run through an advisor appointment with registration, schedule, or tuition-bill proof; branch contributions can be withdrawn without penalty on proof of enrolment.
No NBDB EAP processing timeline was published.

Neutral comparison notes

National Bank covers distinct legal paths (branch, NBDB self-directed, NBF Wealth, Natcan trustee) rather than one uniform RESP, like the Scotia and RBC multi-entity profiles.
NBDB $0 stock and ETF commissions with a waivable $100 root fee sit between commission-free bank pricing and per-trade brokerages.
The $150 transfer-out level matches Scotia and RBC branch levels; NBF Wealth lists $155 with a $150 closing fee.
QESI entity coverage resembles Scotia and RBC multi-entity listings, but the NBDB-specific QESI application step is less documented than CESG, CLB, and BCTESG forms.

Investment options noted on official pages

Branch path centres on advisor-led accounts and GIC-style holdings.
NBDB self-directed path lists $0 online stock and ETF trades with options available.
NBF Wealth path follows full-service brokerage holdings and fees.

Sources to use

List of RESP promoters Employment and Social Development Canada · checked 2026-06-17 RESPs in Canada: Rules and Benefits National Bank · checked 2026-05-24 List of RESP Providers Revenu Québec · checked 2026-06-17 National Bank Direct Brokerage pricing National Bank Direct Brokerage · checked 2026-09-15 NBDB Commission and General Fee Schedule National Bank Direct Brokerage · checked 2026-09-15 NBDB transfer an account National Bank Direct Brokerage · checked 2026-09-15 NBDB forms centre National Bank Direct Brokerage · checked 2026-09-15 NBDB RESP withdrawal help National Bank Direct Brokerage · checked 2026-09-15 National Bank RESP page National Bank of Canada · checked 2026-09-15 NBF Self-Directed Education Savings Plan terms National Bank Financial · checked 2026-09-15 National Bank Financial fee schedule 2025 National Bank Financial · checked 2026-09-15

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