Although the founders of the band hail from Hanna, Alberta, a small town east of Calgary, they are now based in Vancouver, British Columbia, Canada. The band's name originates from the nickel in change that band member Mike Kroeger gave customers at his Starbucks job—he would frequently say, "Here's your nickel back".
The band is signed to EMI at home and Roadrunner Records for the rest of the world. In July 2008, the band signed with Live Nation for three touring and album cycles, with an option for a fourth cycle. The contract includes recordings, touring, merchandise and other rights.