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BMO chequing account options

Free account bundling, BMO new account offers and waivable monthly fees are just some of the perks you can get with a BMO chequing account.

BMO Bank of Montreal offers a wide range of accounts for everyday banking. Here’s how to compare BMO chequing accounts by fees, features and BMO new account offers, plus detailed instructions on how to open a BMO chequing account online in Canada.

Quick view: Compare BMO chequing account options by features

BMO Performance Chequing Account

Earn $600
Bonus Offer
$17.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Performance Chequing Account is one of BMO's most popular chequing accounts. It offers unlimited free transactions and e-Transfers. Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance 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 July 2, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $40 fee rebate on the BMO Mastercard annual fee
  • BMO will reverse the first accidental fee charged to this account
  • Up to 20 accounts can be included in the BMO Family Bundle
  • Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance 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 July 2, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
  • Monthly fee of $17.95
  • You won't earn any interest on the money in your account.
Min. Age 18
Min. Age Teen Account 13
Account Fee $17.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

BMO Premium Plan Chequing Account

Earn $600
Bonus Offer
$30.95
Monthly Account Fee
unlimited
Free Transactions
Enjoy unlimited free transactions and e-Transfers, and get up to $150 rebate on the annual fee for an eligible BMO credit card Get up to a $600 cash bonus. Earn $350 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 July 2, 2024. Plus, earn a 5.50% bonus interest rate when you add a Savings Amplifier Account.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $150 fee rebate on the BMO Mastercard annual fee
  • $0 monthly overdraft fee
  • $12 discount on annual safety deposit box fee
  • No-fee Global Money Transfers
  • Monthly fee of $30.95
  • You won't earn any interest on the money in your account.
Min. Age N/A
Account Fee $30.95
Overdraft Fee $0
ATM Out-of-Network Fee $0

BMO Practical Chequing Account

N/A
Bonus Offer
$4
Monthly Account Fee
12/month
Free Transactions
Pay a low monthly fee of $4 and enjoy unlimited free Interac e-Transfers and 12/month free transactions. Get the monthly fee waived if you're a senior or an RDSP beneficiary.
  • Unlimited free Interac e-Transfers
  • No monthly fee for seniors and RDSP beneficiaries
  • Monthly fee of $4
  • You'll only get a set number of free transactions per month
  • You won't earn any interest on the money in your account.
Min. Age N/A
Account Fee $4
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5

BMO Plus Chequing Account

Earn $100
Bonus Offer
$11.95
Monthly Account Fee
25/month
Free Transactions
Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until July 2, 2024. Get the monthly account fee waived by maintaining a $3,000+ balance or for teens aged 13-18.
  • Unlimited free Interac e-Transfers
  • Monthly fee waived with a $3,000+ balance or for teens aged 13-18
  • Monthly fee of $11.95
  • You'll only get a set number of free transactions per month
  • You won't earn any interest on the money in your account.
Min. Age 13
Account Fee $11.95
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

BMO AIR MILES Chequing Account

N/A
Bonus Offer
$17.95
Monthly Account Fee
unlimited
Free Transactions
Get unlimited free transactions and Interac e-Transfers. You can earn 1 Mile for every $30 you spend on your card – no matter whether you’re paying bills or shopping at your favourite store. You’ll collect 25 extra Miles every month if you’re also signed up with a BMO AIR MILES World Elite Mastercard.
  • Unlimited free transactions and Interac e-Transfers
  • Earn Air Miles
  • Monthly fee of $17.95
  • You'll only get a set number of free transactions per month
  • You won't earn any interest on the money in your account.
Min. Age N/A
Account Fee $17.95
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5

BMO eBusiness Plan

BMO eBusiness Plan

$0
Monthly Account Fee
CAD
Multicurrency Accounts
unknown
Currency Conversion Fee
Get unlimited Interac e-Transfers and other online transactions, accept online payments, and deposit cheques and cash at ATMs. All for a $0 monthly fee.
  • No monthly fee
  • Unlimited online transactions
  • No minimum balance required
  • Focused on online-banking only
Monthly Account Fee $0
Multicurrency Accounts CAD
GIC Available Yes

BMO Business Start Chequing Account

BMO Business Start Chequing Account

$6
Monthly Account Fee
unknown
Multicurrency Accounts
unknown
Currency Conversion Fee
With this account, you get unlimited Moneris® transactions, and 2 free Interac e-Transfers per month. All or a low monthly fee
  • $6 monthly fee
  • Unlimited Moneris transactions
  • Limited transactions per month
Monthly Account Fee $6
GIC Available Yes

BMO Business Builder 1 Chequing Account

BMO Business Builder 1 Chequing Account

$22.50
Monthly Account Fee
CAD
Multicurrency Accounts
unknown
Currency Conversion Fee
This account supports 35 transactions per month, including two Interac e-Transfers and unlimited Moneris transactions. You'll need to pay a $22.50 monthly fee, but there's no minimum balance requirement to worry about. The package also includes 25 items deposited per month and $2,500 in cash deposits. Add the BMO Business Builder 1 to your shortlist of account options if you're looking for the best small business bank account in Canada.
  • 35 monthly transactions and unlimited Moneris transactions
  • No minimum balance
  • $22.50 monthly fee
Monthly Account Fee $22.50
Multicurrency Accounts CAD
GIC Available Yes

BMO Business Builder 2 Chequing Account

BMO Business Builder 2 Chequing Account

$45
Monthly Account Fee
unknown
Multicurrency Accounts
unknown
Currency Conversion Fee
This account is perfect for companies doing online and in-branch businesses. It offers 70 transactions per month and no minimum balance required.. However, this plan is only available for those with a BMO Canadian Dollar Business Current Account.
  • No minimum balance required
  • Unlimited Moneris Transactions
  • unlimited online account balances and transaction histories
  • $45 monthly fee
  • Only 2 free Interac e-Transfer per month
  • Limited free monthly transactions
Monthly Account Fee $45
GIC Available Yes

BMO Business Builder 3 Chequing Account

BMO Business Builder 3 Chequing Account

$80
Monthly Account Fee
unknown
Multicurrency Accounts
unknown
Currency Conversion Fee
If your business handles a high volume of transactions, this account is right for you. The BMO Business Builder 3 Chequing Account offers 120 transactions per month and many advanced digital banking solutions. Plus, the monthly fee is waived if you Maintain a balance of at least $35,000
  • Monthly fee waiver
  • 120 transactions per month
  • Only 2 Interac e-Transfers per month
Monthly Account Fee $80
GIC Available Yes

BMO Business Builder 4 Chequing Account

BMO Business Builder 4 Chequing Account

$120
Monthly Account Fee
unknown
Multicurrency Accounts
unknown
Currency Conversion Fee
If you're looking for a chequing account that supports a high volumeof transactions, this is it! This account offers 160 monthly transactions and unlimited Moneris transactions. Plus, if you maintain a $80,000 minimum balance, the $120 will be waived.
  • Monthly fee waiver
  • 160 per month
  • Only 2 Interac e-Transfers per month
Monthly Account Fee $120
GIC Available Yes

BMO new account offers and promotions on now

Thinking of opening an account with BMO? Explore BMO new account offers and promotions available now, and see how much you could potentially benefit by opening a new BMO account.

BMO Performance Chequing Account

Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance 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 July 2, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.

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BMO Premium Plan Chequing Account

Get up to a $600 cash bonus. Earn $350 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 July 2, 2024. Plus, earn a 5.50% bonus interest rate when you add a Savings Amplifier Account.

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BMO Plus Chequing Account

Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until July 2, 2024.

BMO Savings Amplifier Account

Earn 5.50% interest when you open both a BMO Performance Chequing Account and a BMO Savings Amplifier Account. Plus, earn up to a $600 opening bonus with the chequing account. Valid until July 2, 2024.

Benefits of opening a BMO chequing account

BMO checking accounts come with the following features:

  • BMO Family Bundle. Family members living in the same household as someone with a BMO Performance Chequing Account or BMO Premium Plan Chequing Account can open up to 20 accounts with no monthly fees and unlimited free transactions. Accounts are private — you can only view accounts in your name.
  • One-time fee reversal for students. BMO will reverse the first fee accidentally incurred on student plans. This applies to NSF fees, overdraft fees, over-the-limit transaction fees and missed monthly fees.
  • Free cheque viewing. All account holders can view cheque images online for free.
  • Pay with mobile wallet. Make secure, contactless payments using Google Pay or Apple Pay.
  • BMO Mobile Banking. Available for Android and iOS, the BMO Mobile Banking app lets you view your BMO account balances, send & receive money, pay bills, deposit cheques, activate credit cards and more.

How to open a BMO chequing account

You can open a BMO account online in less than 10 minutes. The application process is the same for different BMO account types, but you may need to meet extra requirements to qualify for some perks. (For example, students may need to show proof of enrollment to get the monthly fee waived on a BMO Performance Chequing Account.)

Generally, you must meet the following eligibility requirements to open a BMO chequing account:

Age

To open a BMO checking account, you need to be at least the age of majority in your province or territory (18 or 19 years old). If you want to open a kids account for someone under the age of 13, you’ll need to visit a branch in person.

Residency

Applicants for all BMO account types must be residents of Canada.

Identification

If you’re applying in person at a BMO branch, bring proof of ID such as a driver’s license, passport or Permanent Resident card. Learn more about acceptable types of identification here. If you’re applying online, BMO will conduct a credit check to verify your identity.

Required information

To open a BMO account online, you’ll need the following information:

  • First and last name
  • Email and phone number
  • Address
  • Birth date
  • Purpose of your account (living expenses, saving, investing etc.)
  • Employment status, occupation and source of income (employment, family etc.)
  • Social Insurance Number (SIN) – required, but you can apply in person if you’re not comfortable sharing this online
  • Country(ies) in which you reside for tax purposes
  • Consent for BMO to verify your identity with a credit bureau. This may be not be required if you open a BMO chequing account in person at a branch, but you’ll need to bring acceptable ID.

BMO fees

Here are some BMO bank fees and miscellaneous charges you should be aware of:

  • Monthly paper statement: $2.00 per month. Free with the BMO Practical Chequing Account.
  • Cheque image viewing: Free with all accounts
  • BMO NSF fee: $48
  • BMO Global Money Transfer: $5 (waived with the BMO Premium Plan Chequing Account
  • Money orders and bank drafts: $9.95 each (free unlimited with the BMO Premium Plan Chequing Account)
  • Overdraft Protection (subject to approval): $5 per month plus interest. No monthly fee with the BMO Premium Plan Chequing Account.
  • Withdrawals from non-BMO ATMs: $2 in Canada, $3 in the US, $5 in other countries. Unlimited $0 global ATM withdrawals with the BMO Premium Plan Chequing Account. 1 free non-BMO withdrawal in Canada per month with the BMO Performance Chequing Account.

Compare other chequing accounts

BMO Performance Chequing Account logo

BMO Performance Chequing Account

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Monthly Account Fee

$17.95


Free Transactions

unlimited


e-Transfer Fee

$0


Bonus Offer

Earn $600

Coast Capital Free Chequing, Free Debit, and More Account logo

Coast Capital Free Chequing, Free Debit, and More Account

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Monthly Account Fee

$0


Free Transactions

unlimited


e-Transfer Fee

$1.50


Bonus Offer

Earn $350

Simplii No Fee Chequing Account logo

Simplii No Fee Chequing Account

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Monthly Account Fee

$0


Free Transactions

unlimited


e-Transfer Fee

$0


Bonus Offer

Earn $400

If you’re looking for a chequing account with no monthly fees, you may want to take a look at the Simplii No Fee Chequing Account (backed by CIBC), the Coast Capital Chequing Account or the Tangerine No-Fee Daily Chequing Account.

Accounts offered by online and non-traditional banks often come with lower fees. Like the Big Banks, these institutions fall under federal regulation and are typically backed by the CDIC (Canada Deposit Insurance Corporation).

If you’re an active spender and could use a range of features for spending, transferring and saving your money, consider the Scotiabank Ultimate Package or Scotiabank Preferred Package. These accounts come with perks like unlimited free transactions, annual fee rebates on select credit cards, free equity trades with Scotia iTRADE, waived monthly fees for additional accounts and more.

BMO chequing account FAQs

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