Institution profile · Domestic bank (Schedule I)
First Nations Bank of Canada
ActiveFirst Nations Bank of CanadaCDIC
First Nations Bank of Canada is a Schedule I bank with its registered office on Yellow Quill First Nation land in Saskatoon. It received its charter in 1996 and opened its first branch in 1997.
Profile facts checked October 30, 2026
Mitey files the First Nations Bank of Canada index card: cheapest everyday account $227 a year.
Is First Nations Bank of Canada a good bank for everyday banking?
First Nations Bank of Canada’s cheapest chequing account open to anyone, Infinity Account, costs $227 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), $132 below the national median of $359. Its best posted savings rate is 0.15% on $10,000. Eligible deposits are CDIC-insured to $100,000 per category.
At a glance
- Legal name
- First Nations Bank of Canada
- Type
- Domestic bank (Schedule I)
- Head office
- Saskatoon, SK
- Founded
- 1996 — Received its Bank Act charter in November 1996.
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Cheapest everyday account
- Infinity Account — $227 a year for the Everyday example
- Best posted savings rate
- 0.15% on $10,000 (First Nations High Interest)
- Website
- www.fnbc.ca
Is my money safe at First Nations Bank of Canada?
CDIC member (names include FNB, FNBC and FNB Trust).
Names CDIC lists for this member: First Nations Bank, FNB, FNBC, FNB Trust, FNB Trust Services.
What do First Nations Bank of Canada’s chequing accounts cost?
First Nations Bank of Canada lists 6 chequing accounts with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Infinity Account at $227 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Elders PlanSeniors | No monthly fee | Unlimited | $24 |
| Student AccountStudents | No monthly fee | Unlimited | $24 |
| Infinity Account | $16.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $227 |
| Select Service | $29.95/mo, or $0 with a $5,000 minimum balance | Unlimited | $359 |
| Value Plus Account | $11.95/mo, or $0 with a $3,000 minimum balance | 25 a month | $455 |
| Value Account | $3.95/mo, or $0 with a $1,500 minimum balance | 12 a month | $547 |
- Elders Plan · senior only$24
- Student Account · student only$24
- Infinity Account$227
- Select Service$359
- Value Plus Account$455
- Value Account$547
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would First Nations Bank of Canada cost a typical household?
The cheapest First Nations Bank of Canada account open to anyone for each of our four usage profiles, against the cheapest account in Canada for the same banking. Profiles are defined in the finder.
| Profile | Cheapest at First Nations Bank of Canada | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | Value Plus Account | $143 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Infinity Account | $227 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Infinity Account | $251 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | Value Plus Account | $167 | Basic Bank Account Scotiabank | $134 |
Worked example — Infinity Account (First Nations Bank of Canada), Everyday profile
| Monthly fee (not waived: needs $4,000, $3,000 more than the $1,000 low balance) × 12 | $203.40 |
| Transactions beyond the included number (0 a month) × 12 | $0 |
| Other-bank ATM access fees (1 a month) × 12 | $24 |
| Paper statements × 12 | $0 |
| Fees a year | $227.40 |
Our take
First Nations Bank of Canada is competitive: its cheapest open account costs less than the median Canadian account for everyday use. The cheapest account in Canada would save another $227 a year.
What savings rates does First Nations Bank of Canada pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| First Nations High Interest | 0.15% | No monthly fee |
| High Interest Savings Account | 0.15% | No monthly fee |
| High Interest Tax Free Savings AccountTFSA | 0.15% | No monthly fee |
| Everyday Savings Account | 0.05% | No monthly fee |
| Youth AccountYouth (18 and under) | 0.05% | No monthly fee |
Is First Nations Bank of Canada on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| First Nations Bank of Canada | OSFI — Schedule I domestic bank | Yes |
What else should you know about First Nations Bank of Canada?
- Received its Bank Act charter in November 1996; first branch opened in Saskatoon in September 1997.Source: online.fnbc.ca
- Registered office on the Yellow Quill First Nation at 22 4th Avenue South, Saskatoon.Source: fnbc.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank First Nations Bank of Canada’s accounts against everyone else’s.
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