Which of the following banks is NOT considered a Schedule I bank?

In Canada, Schedule I banks are domestic banks that are officially authorized and regulated under the Bank Act. These banks are primarily Canadian-owned and engage in a range of banking services including personal and commercial banking, and they are integral to the Canadian financial system.

The American Express Bank does not fall under this category because it operates as a foreign bank and primarily focuses on providing financial services such as credit cards and related products rather than traditional banking services like those offered by Schedule I banks. As such, it does not meet the criteria that define a Schedule I bank.

On the other hand, the Bank of Montreal, Royal Bank of Canada, and Toronto Dominion Bank are all examples of Schedule I banks. These institutions are engaged in typical banking operations and are designated as domestic banks, illustrating their importance in serving Canadian customers and businesses.