BMO promotions and offers

Explore the latest BMO new account promotions and offers available now.

BMO promotions give you a bonus or incentive for you to switch from another bank and sign up with BMO. Historically, we’ve seen offers worth hundreds of dollars as a cash bonus and a high savings interest rate when you sign up for a new BMO chequing and savings account.

We’ve compiled lists of BMO promotions currently available for chequing accounts, savings accounts, investments, credit cards and newcomers. Easily compare your options below.

BMO promotions and offers for chequing accounts on now

We’ve gathered the latest BMO promotions available now so you can easily browse through current BMO account offers and compare deals.

BMO Performance Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Performance Chequing Account, $200 (plus a 5.00% promo interest rate) when you open a Savings Amplifier Account and $50 when you make it a BMO Family Bundle. Valid until March 3, 2025.

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BMO Premium Plan Chequing Account

Get up to $700 in cash bonuses. Earn $450 when you open a new BMO Premium Plan Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 5.00% bonus interest rate when you add a Savings Amplifier Account.

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BMO New to Canada Performance Chequing Account

Earn up to a $700 welcome bonus and get a $100 Walmart Canada eGift card. Valid until May 31, 2025. Plus, enjoy no monthly plan fee banking for one year, and send unlimited BMO Global Money Transfers with no fee.

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BMO Plus Chequing Account

Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until March 3, 2025.

BMO AIR MILES Chequing Account

Earn up to a 5.00% promo interest rate when you open a new AIR MILES Chequing Account and Savings Amplifier Account. Valid until April 30, 2025

How to get the $700 BMO promotion

In order to qualify to get $700 from the BMO promotional offer, you’ll need to complete 3 steps:

Step 1: Open a BMO chequing account

Open one of these two BMO chequing accounts, and deposit money into that account, by March 3, 2025:

After you’ve opened and deposited money into your new BMO chequing account, you’ll need to set up two of the following by April 30, 2025:

  • An ongoing direct deposit
  • Two eligible online bill payments, to different billers, worth at least $50
  • Two eligible pre-authorized debits to different billers, worth at least $50

After you’ve completed this step, you’ll earn $450.

Step 2: Open a BMO savings account

You’ll then need to open a BMO Savings Amplifier Account by March 3, 2025. Then you’ll have to complete the following tasks in this order:

  1. Deposit $10,000 or more into your new Savings Amplifier Account within 30 calendar days of opening the account
  2. Throughout the following 90 days, maintain a daily closing balance of $10,000 or more at all times

After you’ve completed this step, you’ll earn $200.

Step 3: Sign up with the family bundle

Next, you simply need to invite a family member to sign up as part of the BMO Family Bundle and open their account by March 3, 2025. After you’ve completed this last step, you’ll earn $50.

BMO high interest savings account promotion

BMO offers a number of savings accounts that often come with new account promotions of a higher interest rate a number of months when you open an account.

These BMO high interest savings account promotions are often very competitive compare to other banks, but beware that after the promo period ends, the ongoing standard interest rate can be much lower.

BMO Savings Amplifier Account

Earn 5.00% interest when you open both a BMO Performance Chequing Account and a BMO Savings Amplifier Account. Plus, earn up to a $700 opening bonus with the chequing account. Valid until April 30, 2025 .

BMO InvestorLine promotion

BMO frequently offers promotions when you sign up for InvestorLine — its user-friendly online trading platform. With BMO InvestorLine, you can put your investments in registered and non-registered accounts. Plus, an InvestorLine Self-Directed account can enable you to make your own investment decisions.

BMO InvestorLine promotions typically offer a cash bonus amount dependent on the amount you invest. So, for example, if you invest $5,000 – $24,999, you could get a $300 bonus, but if you invest $1,500,000+, you could get a $3,500 bonus.

BMO InvestorLine

Get up to $3,500 cash back (use BMO promo code SDCASH).

BMO credit card offers

We’ve seen BMO credit card offers for higher cash back rates, balance transfer deals and bonus point collection promotions.

BMO CashBack Mastercard

Get 5% cash back on all eligible purchases in the first three months (up to a maximum spend of $2,500).

BMO Preferred Rate Mastercard

Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived by your first anniversary.

BMO Ascend World Elite Mastercard

Get up to 90,000 points and get the $150 annual fee waived by your first anniversary.

BMO offers for newcomers

BMO offers a newcomers banking package, the NewStart Program, where immigrants can get access to a wide range of perks to help get their finances set up.

This program offers savings valued at more than $2,100 on a chequing account, credit card, mortgage, investment opportunities and more.

BMO New to Canada Performance Chequing Account

Earn $700
Bonus Offer
$17.95
Monthly Account Fee
unlimited
Free Transactions
Eligibility: Must be 18 or older (or the age of majority), have a SIN and a Canadian address. To qualify for the NewStart Program, you must be a permanent resident or foreign worker who arrived in Canada within the last five years.
Perks: Fee-free international transfers for the first year, bonus cash back with with an eligible credit card, account opening cash bonus, additional cash bonus when you rent a safety deposit box.
Credit card (yes/no): Yes
  • No monthly fee (conditions apply)
  • Unlimited fee-free BMO Global Money Transfers for 1 year
  • Rebates and cash bonuses available
  • Must have a minimum balance of $4,000 to avoid a monthly fee of $17.95 after first year
Min. Age N/A
Account Fee $17.95
Overdraft Fee $5
U.S. ATM Fee $5
International ATM Fee $5

Is it worth switching banks for a BMO promotion?

That depends on your current finances and financial goals. BMO, or the Bank of Montreal, is the third-largest bank in Canada by market capitalization and the eighth-largest bank in North America.

BMO offers a wide range of banking and investment services including bank accounts, credit cards, mortgages, loans, GICs, stock trading and insurance options. In addition to being one of the Big Five banks in Canada, BMO is well-known for its good customer service.

That said, consider the fees and features of any bank account before signing up to ensure you’re getting the right value for your money.

For example, if you’re looking for a simple, no-fuss chequing account, instead of opting for one of BMO’s offers, you may be better off signing up for a chequing account from one of Canada’s digital banks — like Simplii or EQ Bank — which tend to offer no-fee accounts, unlimited monthly transactions and competitive signup bonuses.

BMO promotions vs. other Canadian bank offers on now

Although BMO offers competitive bonus promotions, other Big Banks, digital banks and credit unions are offering competitive promotions right now too. Here are some other bank promo options you can compare with BMO new account offers:

Scotiabank Preferred Package

Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 3, 2025. Plus, earn up to 5.05% interest for 3 months on your MomentumPLUS Savings Account.

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Scotiabank Ultimate Package

Earn up to $800 with a Scotiabank Ultimate package and an investment plan. Plus, earn up to 5.10% interest for 3 months on your MomentumPLUS Savings Account. Valid until March 3, 2025.

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Scotiabank MomentumPLUS Savings Account

Earn up to 5.10% for 3 months on your first account opened.

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Simplii No Fee Chequing Account

Earn $300 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends April 30, 2025.

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Simplii High Interest Savings Account

Earn 3.90% interest for 5 months on up to $1,000,000 in savings. Apply by March 31, 2025.

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Coast Capital Free Chequing, Free Debit, and More Account

New members can get $150 when they open and use a Free Chequing, Free Debit and More Account. Conditions apply. Valid until March 31, 2025.

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Coast Capital Elevate Chequing Account

New members can get $400 when they open and use an Elevate Chequing Account. Conditions apply. Valid until March 31, 2025.

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Coast Capital Unlimited Chequing Account

New members can get $250 when they open and use an Unlimited Chequing Account. Conditions apply. Valid until March 31, 2025.

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EQ Bank Personal Account

Earn 4.00% interest on your money for 12 months and 1.50% thereafter.

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RBC Signature No Limit Banking Account

Get an Apple Watch when you open your first RBC Signature No Limit Banking Account and complete two of the ”Qualifying Criteria”. Apply by June 2, 2025.

RBC VIP Banking Account

Get an Apple Watch when you open your first RBC VIP Banking Account and complete two of the ”Qualifying Criteria”. Apply by June 2, 2025.

CIBC Smart Account

Get a $600 cash offer when you open a CIBC Smart Account as your first chequing account, then open your first CIBC eAdvantage Savings Account in the same calendar month and complete the qualifying actions within 2 months.

TD Unlimited Chequing Account

Earn a welcome bonus worth $500 ($400 when you open this account and complete qualifying tasks plus $100 when you open a new eligible savings account and complete qualifying tasks. Terms and conditions apply). Offer ends February 25, 2025.

Tangerine No-Fee Daily Chequing Account

Earn up to $250. Open a No-Fee Daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.

Tangerine Savings Account

Earn 5.40% interest for 5 months (on the first $1,000,000 in deposits) when you sign up by March 31, 2025.

You can explore more options from the Big Five banks, digital banks, credit unions and prepaid cards in our full guide to the best bank promotions in Canada.

Frequently asked questions about BMO promotions

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Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio

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Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog. See full bio

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