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.
The monthly account fee is waived if you maintain a minimum monthly balance of at least $4,000.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
monthly fee is waived for members of the Canadian Defence Community
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.
Monthly account fee waived if you keep a balance of at least $6,000 in your account each month.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free overdraft protection
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.
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:
Deposit $10,000 or more into your new Savings Amplifier Account within 30 calendar days of opening the account
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.
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 .
Interest rate
0.9%
Minimum balance
$0
Monthly fee
$0
Transactions
$0
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 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.
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.
The monthly account fee will be waived if you have at least $4,000 in your account at all times.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
Unlimited debit transactions & Interac e-Transfer transactions One free non-Scotiabank ABM withdrawal per month in Canada First year annual fee waiver (up to $139) on select credit cards Pay just $1.99 for each Scotia International Money Transfer Preferred rates on select GICs Earn Scene+ points and redeem for various rewards
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.
Monthly account fee waived if you have at least $6,000 in your account at all times or a combined balance of $30,000 across your Ultimate Package and a MomentumPLUS Savings Account.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Unlimited debit transactions & Interac e-Transfer transactions Unlimited free Global non-Scotiabank ABM withdrawals (terms apply) Up to $139 annual fee waiver each year on select credit cards No monthly Overdraft Protection fee Special rates on select GICs Earn Scene+ points and redeem for rewards 10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year after Free personalized cheques and drafts $60 annual fee waiver (equivalent to a small safety deposit box)
Scotiabank MomentumPLUS Savings Account
Earn up to 5.10% for 3 months on your first account opened.
You may be eligible to earn three different types of interest on this account. The first is a base rate of 0.65% that you'll earn on your entire balance, plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders.
The second is a premium interest rate of 0.55%, which is earned when you choose 360-day premium period (or earn lower rates with 90, 180 and 270 periods). A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period.
The third is a welcome bonus interest rate of 3.80% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.
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.
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.
Monthly fee
$16.95
Waiver
Through RBC's Value Program Rebate, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
5 free cross-border debits per month ($1.00 each afterwards)
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.
Monthly fee
$30
Waiver
Through RBC’s Value Program Rebate, pair this account with 2 other eligible RBC accounts and get cashback for some or all of your monthly fees—for example, only pay $19.95/month for this account.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account
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.
Monthly fee
$16.95
Waiver
The monthly fee is waived if you have a minimum of $4,000 in your CIBC chequing account.
Transactions
Unlimited
Interac e-transfers
Free
Non-network ATM in Canada
$2
Highlights
The lowest monthly fee is $6.95 for 12 transactions and the highest monthly fee is $16.95 for 20 or more transactions.
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.
Monthly fee
$16.95
Waiver
maintain a $4,000 minimum balance to receive a monthly fee rebate.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Earn up to $500 when you open a new chequing account and set up direct deposit.
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.
Monthly fee
$0
Interest rate
0.01%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$1.50
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.
Use one of our deal codes above to take advantage of a signup offer. While the previous $300 promo is no longer active, you can earn up to $700 when you open a BMO Performance Chequing Account. Certain conditions will apply.
If you're not currently a BMO client, you could open a chequing account in order to take advantage of a welcome bonus. Some accounts that offer high welcome offers include the BMO Performance Chequing Account and the BMO Premium Plan Chequing Account.
If you're looking to get a mortgage, you can also take advantage of a cashback offer.
BMO welcome offers on chequing accounts change all the time. You can view and apply for the best BMO deals above.
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
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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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.