Compare BMO Chequing Accounts | Finder Canada

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BMO chequing accounts

Compare the 5 different BMO chequing account options to find one that's right for you.

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Please note: All information about BMO chequing accounts has been collected independently by Finder and chequing account products from BMO are not available through this site.

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

Name Product Interest Rate Account Fee Debit Transactions Interac e-Transfer Transactions
Scotiabank Preferred Package
0%
$16.95 per month ($0 if requirements met)
unlimited
unlimited
Earn a $300 welcome bonus. Plus, for a limited time, earn up to 1.75% on your MomentumPLUS Savings Account.
Scotiabank Ultimate Package
0%
$30.95 per month ($0 if requirements met)
unlimited
unlimited
Earn a $300 welcome bonus. Plus, for a limited time, earn up to 1.80% on your MomentumPLUS Savings Account.
Scotiabank Basic Plus Bank Account
0%
$11.95 per month ($0 if requirements met)
25 free per month
Free
Pay no monthly account fee by maintaining a minimum daily closing balance of $3,000 for the entire month.
Scotiabank Student Banking Advantage Plan
0%
$0
unlimited
unlimited
Sign up today and get up to 5,000 SCENE or Scotia Rewards Points. Terms apply. Apply by April 30, 2021.
Scotiabank Basic Bank Account
0%
$3.95 per month
12 free per month
Free
With a low monthly account fee, you can choose between earning points toward the SCENE or Scotia Rewards reward programs.
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