Institution profile · Domestic bank (Schedule I)
Laurentian Bank
Change pendingLaurentian Bank of CanadaCDIC
Laurentian Bank of Canada is a Montreal-based Schedule I bank founded in 1846. Its retail and small-business clients are moving to National Bank, and the bank itself is to become a subsidiary of Fairstone Bank, keeping its brand and Montreal head office.
Profile facts checked October 30, 2026
Mitey files the Laurentian Bank index card: cheapest everyday account $201 a year.
Is Laurentian Bank a good bank for everyday banking?
Laurentian Bank’s cheapest chequing account open to anyone, Unlimited account, costs $201 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), $158 below the national median of $359. Eligible deposits are CDIC-insured to $100,000 per category.
Two linked transactions were scheduled to close on November 1, 2026: Fairstone Bank of Canada buying all Laurentian Bank shares, and National Bank buying its retail and small-business portfolios. As of November 1, 2026 neither Laurentian nor National Bank had published a closing announcement (Laurentian’s latest release is dated October 30, 2026), and Laurentian Bank was still on the OSFI and CDIC lists we checked on October 30. We’ll update this when closing is announced.
At a glance
- Legal name
- Laurentian Bank of Canada
- Type
- Domestic bank (Schedule I)
- Head office
- Montreal, QC
- Founded
- 1846 — Founded in Montreal in 1846 as the Montreal City and District Savings Bank.
- 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
- Unlimited account — $201 a year for the Everyday example
- OBSI banking cases
- 6 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.laurentianbank.ca
Is my money safe at Laurentian Bank?
CDIC member. B2B Bank, B2B Trustco, LBC Trust and Laurentian Trust of Canada are separate CDIC members.
Names CDIC lists for these members: LBC Digital, Private Banking.
What do Laurentian Bank’s chequing accounts cost?
Laurentian Bank lists 10 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 Unlimited account at $201 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Youth PlanYouth (18 and under) | No monthly fee | None included (each one is charged) | $84 |
| Unlimited account - Student AdvantageStudents | $5.75/mo, no balance waiver | Unlimited | $93 |
| Unlimited account - 60+ AdvantageSeniors | $9.75/mo, no balance waiver | Unlimited | $141 |
| Unlimited account | $14.75/mo, no balance waiver | Unlimited | $201 |
| Preferred account - Student AdvantageStudents | No monthly fee | Branch: 0 · self-serve: 20 | $340 |
| Preferred account - 60+ AdvantageSeniors | $2.50/mo, no balance waiver | Branch: 0 · self-serve: 20 | $370 |
| Basic account | $0.00–$4.00/mo, no balance waiver | Branch: 0 · self-serve: 18 | $416 |
| Preferred account | $7.50/mo, no balance waiver | Branch: 0 · self-serve: 20 | $430 |
| 65+ PlanSeniors | No monthly fee | 4 a month | $560 |
| Chequing Account | No monthly fee | None included (each one is charged) | $615 |
- Youth Plan · youth only$84
- Unlimited account - Student Advantage · student only$93
- Unlimited account - 60+ Advantage · senior only$141
- Unlimited account$201
- Preferred account - Student Advantage · student only$340
- Preferred account - 60+ Advantage · senior only$370
- Basic account$416
- Preferred account$430
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would Laurentian Bank cost a typical household?
The cheapest Laurentian Bank 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 Laurentian Bank | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | Basic account | $76 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Unlimited account | $201 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Unlimited account | $225 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | no account can serve it | — | Basic Bank Account Scotiabank | $134 |
Worked example — Unlimited account (Laurentian Bank of Canada), Everyday profile
| Monthly fee × 12 | $177 |
| 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 | $201 |
Our take
Laurentian Bank is competitive: its cheapest open account costs less than the median Canadian account for everyday use. The cheapest account in Canada would save another $201 a year.
Is Laurentian Bank on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Laurentian Bank of Canada | OSFI — Schedule I domestic bank | Yes |
| B2B Bank | OSFI — Schedule I domestic bank | Yes |
| B2B Trustco | OSFI — trust company | Yes |
| LBC Trust | OSFI — trust company | Yes |
| Laurentian Trust of Canada Inc. | OSFI — trust company | Yes |
What else should you know about Laurentian Bank?
- Transactions announced December 2, 2025; shareholders approved February 5, 2026.Source: news.laurentianbank.ca
- Sale of its syndicated loans portfolio to National Bank completed February 17, 2026.Source: news.laurentianbank.ca
- Final key regulatory approvals received by August 31, 2026; both transactions scheduled to close November 1, 2026, with retail and SME products migrating to National Bank by late 2026.Source: nbc.ca
- One of the 14 signatories of the federal low-cost and no-cost account commitment.Source: canada.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Laurentian Bank’s accounts against everyone else’s.
How many Laurentian Bank complaints reached the ombudsman?
OBSI, the ombudsman for banking, opened 6 banking cases about Laurentian Bank of Canada in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 6, and resolved 4 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.