There are multiple parking lots around Banff with time limits ranging between 1 hour - 12 hours. On street parking is also available in certain areas.
Make sure you always pay attention to the displayed parking signs as payment and time limits are strictly enforced.
Bear Street is now a shared zone for pedestrians and cars, so please be mindful of this if you are looking to park in the Bear Street Parking Lot, which is right next door to to mall.
Other recommended parking spots include:
Bear Street Parkade
Beaver Street Parking Lot 300 Block
Wolf Street Parking Lot
Train Station - Free 9 hour parking, 8 min walk from downtown & a free shuttle on weekends.