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BMO chequing accounts

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

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 BMO chequing account 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 $16.95 account fee per month. The keep $4,000 in your account at all times. You’ll benefit from unlimited monthly transactions using BMO’s services and unlimited Interac e-Transfer transactions. Plus, For a limited time, earn $350 when you open a Performance Chequing Account. Plus, get an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2022.

Read our full BMO Performance Chequing Account review here.

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. Plus, For a limited time, earn $350 when you open a Premium Chequing Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2022.

Read our full BMO Premium Plan Chequing Account review here.

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 $11.95 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 per month, but you’ll have unlimited Interac e-Transfer transactions. Plus, For a limited time, earn $100 when you open an account and setup recurring deposits and bill payments. Valid until October 31, 2022.

Read our full BMO Plus Chequing Account review here.

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 $16.95 account fee per month, which cannot be waived. On top of earning AIR MILES points, you’ll also benefit from unlimited Interac e-Transfer transactions.

Read our full BMO AIR MILES Chequing Account review here.

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 as well as unlimited Interac e-Transfer transactions.

Read our full BMO Practical Chequing Account review here.

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

1 - 14 of 14
Name Product Interest Rate Account Fee Debit Transactions Interac e-Transfer Transactions
BMO Practical Chequing Account
0%
$4 per month
12 transactions per month
unlimited
A low monthly fee bank account that provides you with the essentials including 12 free transactions a month.
OFFER
Simplii No Fee Chequing Account
0.01%
$0
Unlimited
Free
Earn $350 when you become a new client and set up direct deposit of at least $100 for 3 months. Offer ends October 31, 2022.
OFFER
Scotiabank Preferred Package
0%
$16.95 per month ($0 if requirements met)
unlimited
unlimited
Earn a $300 welcome bonus. Conditions apply. Valid until September 30, 2022. Plus, earn up to 2.35% interest on your MomentumPLUS Savings Account.
Scotiabank Basic Bank Account
0%
$3.95 per month
12 free per month
Free
With a low monthly account fee, you can earn points toward the Scene+ rewards program.
BMO AIR MILES Chequing Account
0%
$16.95
unlimited
unlimited
Get 1 AIR MILES Reward Mile for every $30 spent using your BMO Debit Card.
BMO Performance Chequing Account
0%
$16.95 per month ($0 if requirements met)
unlimited
unlimited
Earn $350 with a Performance Chequing Account. Plus an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2022.
BMO Premium Plan Chequing Account
0%
$30 per month ($0 if requirements met)
unlimited
unlimited
Earn $350 with a Premium Chequing Account. Plus earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2022.
BMO Plus Chequing Account
0%
$11.95 per month ($0 if requirements met)
25 free per month
unlimited
Earn $100 with a Plus Chequing Account when you open an account and setup recurring deposits and bill payments. Valid until October 31, 2022.
Scotiabank Ultimate Package
0%
$30.95 per month ($0 if requirements met)
unlimited
unlimited
Receive a welcome bonus of $300. Conditions apply. Valid until September 30, 2022. Plus, earn up to 2.4% interest on your MomentumPLUS Savings Account.
Scotiabank Student Banking Advantage Plan
0%
$0
unlimited
unlimited
Earn $75 and up to 7,500 Scene+ points with the Scene+ Student Banking Bundle. Conditions apply. Apply by October 31, 2022.
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.
BMO Performance Student Chequing Account
0%
$0
Unlimited
Unlimited
Earn a $100 cash bonus and enjoy no monthly fees while in school and one year after you graduate. Valid until October 31, 2022.
BMO New to Canada Performance Chequing Account
0%
$0
Unlimited
Unlimited
Earn $350 when you open an account. Plus an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2022.
BMO Canadian Defence Community Banking Performance Plan Chequing Account
0%
$0
Unlimited
Unlimited
Save on banking fees with a no fee monthly account and unlimited Interac e-Transfers.
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