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BMO chequing accounts
Compare the 5 different BMO chequing account options to find one that's right for you.
BMO has five different chequing accounts with a plan to fit everyone’s lifestyle. Read our guide below to learn about the features and benefits of each.
Compare BMO chequing accounts
BMO Performance Chequing Account
One of BMO’s most popular chequing accounts, this plan is suited for those with frequent banking needs. It comes with a $15.95 account fee per month. The $4,000 in your account at all times. You’ll benefit from unlimited monthly transactions using BMO’s services and unlimited (up to a $3,000 daily maximum) Interac e-Transfer transactions.
BMO Premium Plan Chequing Account
For those with more ambitious financial goals, take a step up with BMO Premium Plan Chequing Account. Like the account name suggests, you’ll get a more thorough and premium banking experience. With a $30 account fee per month. The account fee waived each month if you keep $6,000 in your account at all times. On top of the unlimited monthly transactions using BMO’s services, you’ll also get a preferred US dollar exchange rate and a $150 annual fee rebated yearly with a BMO World Elite Mastercard.
BMO Plus Chequing Account
For those with fewer banking needs, the BMO Plus Chequing Account is a worthwhile option. It has a monthly account fee of $10.95 You may be eligible to get the monthly fee for this account waived if you keep $3,000 in your account as a minimum balance at all times.. You’ll be 25 free transactions each month, but you’ll have unlimited Interac e-Transfer transactions.
BMO AIR MILES Chequing Account
If you already collect AIR MILES points, you can also earn points with the BMO AIR MILES Chequing Account. Through this plan, you’ll be awarded 1 AIR MILES point for every $30 spent using the BMO Debit Card on your everyday purchases
. It does come with a $15.95 account fee per month, which cannot be waived. On top of earning AIR MILES points, you’ll also benefit from unlimited monthly transactions using BMO’s services.
BMO Practical Chequing Account
For those with the most basic banking needs, the BMO Practical Chequing Account is a logical, low-cost option. It has a nominal account fee of $4 per month, which cannot be waived. This plan comes with 12 transactions per month for free as well as unlimited Interac e-Transfer transactions.
The benefits of banking with BMO
Like most big banks, you can expect a high level of customer service with BMO and a number of potential benefits including:
- BMO Internet and mobile banking. Signing up for a BMO chequing account will give you access to bank online using the secure BMO Online Banking web portal. You can also choose to bank on your mobile device using the BMO Mobile Banking app.
- Pay with mobile wallet. Securely and conveniently pay using the contactless payment feature using Google Pay or Apple Pay on your mobile device.
- Pre-authorized payments. When your bills are due, you can set up your bills to be automatically paid from your BMO chequing account.
- Travel insurance. Protect yourself, your family, your trip and even your luggage against the uncertainties and emergencies that can arise from travelling.
- BMO Prepaid Travel Mastercard. Have instant access to cash while you’re travelling without having to physically carry cash.
How to open a BMO chequing account
Before you get started on your application, you should make sure that you meet the eligibility requirements for the specific chequing account that you are interested in. Furthermore, have the necessary documents on hand so that you can correctly fill out the application form. Eligibility requirements might vary between chequing account plans but generally include the following:
- Age. You need to be a minimum age of 13 years old to open an account.
- Residency. You need to verify that you live in Canada and have a valid Canadian address.
- Social Insurance Number (SIN). You need to provide your SIN so that BMO can check with the credit bureau to verify your identity.
Compare other chequing accounts
Frequently asked questions about BMO chequing accounts
More guides on Finder
BMO Debit Card Review
Make easy payments in person and online with this hybrid debit card from BMO.
BMO Performance Chequing Account review
Get unlimited transactions and a generous welcome bonus when you sign up for this mid-level chequing account.
BMO Premium Plan Chequing Account review
Enjoy unlimited transactions and a number of exclusive perks when you sign up for this premium chequing account.
BMO Plus Chequing Account review
Enjoy 25 free transactions per month and pay a low monthly fee for this basic chequing account.
BMO AIR MILES Chequing Account Review
Collect AIR MILES Reward Miles for making purchases and paying bills with this loyalty chequing account.
BMO Practical Chequing Account review
Enjoy 12 free transactions per month for one low monthly fee with this basic chequing account.