BMO chequing account options

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

• Best for no-fee transactions: BMO Performance Chequing Account
• Best for active spenders: BMO Premium Plan Chequing Account
• Best for basic banking needs: BMO Practical Chequing Account
• Best for teens: BMO Plus Chequing Account
• Best for earning AIR MILES rewards: BMO AIR MILES Chequing Account
• BMO eBusiness Plan
• BMO Business Start Chequing Account
• BMO Business Builder 1 Chequing Account

Go to site Read review

BMO Performance Chequing Account

Earn $450
Bonus Offer

$16.95
Monthly Account Fee

unlimited
Free Transactions

• Info
• Pros + Cons
• More Details

The BMO Performance Chequing Account is one of BMO's most popular chequing accounts. It offers unlimited free transactions and e-Transfers. Earn $350 with a Performance Chequing Account. Plus, get an additional $100 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2023. You can also earn a 5.25% bonus interest rate when you add 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
• Earn $350 with a Performance Chequing Account. Plus, get an additional $100 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2023. You can also earn a 5.25% bonus interest rate when you add a Savings Amplifier Account.

• Monthly fee of $16.95
• You won't earn any interest on the money in your account.

Min. Age	18
Min. Age Teen Account	13
Account Fee	$16.95
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

Go to site Read review

BMO Premium Plan Chequing Account

Earn $450
Bonus Offer

$30
Monthly Account Fee

unlimited
Free Transactions

• Info
• Pros + Cons
• More Details

Enjoy unlimited free transactions and e-Transfers, and get up to $150 rebate on the annual fee for an eligible BMO credit card Earn $350 when you open a Premium Chequing Account. Plus, earn an additional $100 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2023.

• 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
• You won't earn any interest on the money in your account.

Min. Age	N/A
Account Fee	$30
Overdraft Fee	$0
ATM Out-of-Network Fee	$0

Read review

BMO Practical Chequing Account

N/A
Bonus Offer

$4
Monthly Account Fee

12/month
Free Transactions

• Info
• Pros + Cons
• More Details

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

Read review

BMO Plus Chequing Account

Earn $100
Bonus Offer

$11.95
Monthly Account Fee

25/month
Free Transactions

• Info
• Pros + Cons
• More Details

Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until October 31, 2023. 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
Overdraft Fee
ATM Out-of-Network Fee	$2
U.S. ATM Fee	$5
International ATM Fee	$5

Read review

BMO AIR MILES Chequing Account

N/A
Bonus Offer

$16.95
Monthly Account Fee

unlimited
Free Transactions

• Info
• Pros + Cons
• More Details

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 $16.95
• 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	$16.95
Overdraft Fee
ATM Out-of-Network Fee	$2
U.S. ATM Fee	$3
International ATM Fee	$5

BMO eBusiness Plan

N/A
Bonus Offer

$0
Monthly Account Fee

N/A
Free Transactions

• Info
• Pros + Cons
• More Details

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

Min. Age	N/A
Account Fee	$0
Overdraft Fee

BMO Business Start Chequing Account

N/A
Bonus Offer

$6
Monthly Account Fee

7
Free Transactions

• Info
• Pros + Cons
• More Details

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

Min. Age	N/A
Account Fee	$6
Overdraft Fee

BMO Business Builder 1 Chequing Account

N/A
Bonus Offer

$22.50
Monthly Account Fee

N/A
Free Transactions

• Info
• Pros + Cons
• More Details

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

Min. Age	N/A
Account Fee	$22.50
Overdraft Fee

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

Earn $350 with a Performance Chequing Account. Plus, get an additional $100 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2023. You can also earn a 5.25% bonus interest rate when you add a Savings Amplifier Account.

Go to site

• Account details

  Monthly fee	$16.95
  Waiver	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

Earn $350 when you open a Premium Chequing Account. Plus, earn an additional $100 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2023.

Go to site

• Account details

  Monthly fee	$30
  Waiver	fee is waived each month if you keep at least $6,000 in your account
  Interest rate	0%
  Transactions	unlimited
  Interac e-transfers	$0
  Non-network ATM in Canada	$0
  Highlights	free overdraft protection

BMO Plus Chequing Account

Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until October 31, 2023.

Read Review

• Account details

  Monthly fee	$11.95
  Waiver	If you keep at least $3,000 in your account each month, you can get the monthly fee waived.
  Interest rate	0%
  Transactions	25/month
  Interac e-transfers	$0
  Non-network ATM in Canada	$2

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:

BMO fees

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

Compare other chequing accounts

BMO Performance Chequing Account

Go to site

---

Monthly Account Fee

$16.95

---

Free Transactions

unlimited

---

e-Transfer Fee

$0

Coast Capital Free Chequing, Free Debit, and More Account

Go to site

---

Monthly Account Fee

$0

---

Free Transactions

unlimited

---

e-Transfer Fee

$1.50

Simplii No Fee Chequing Account

Go to site

---

Monthly Account Fee

$0

---

Free Transactions

unlimited

---

e-Transfer Fee

$0

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

• How do I open a BMO joint account?

  You can open any BMO chequing account or savings account as a joint account with up to 4 people. But this cannot be done online. You and every other joint account holder will need to visit a BMO branch in person with valid ID.

  BMO joint account holders can each have their own debit card to make purchases, pay bills and more. Opening a BMO joint account is a great solution if you need to share expenses, split purchases or save for big-ticket items.

• Is there a BMO free chequing account?

  BMO does not offer a free chequing account, but you can get the monthly fee on certain accounts waived if you maintain a minimum balance or meet certain criteria.

  For example, the monthly fee for the BMO Performance Chequing Account is waived for students, recent graduates and members of the Canadian Armed Forces (CAF). Teens aged 13-18 don't have to pay a monthly fee for the BMO Plus Chequing Account. Seniors and RDSP (Registered Disability Savings Plan) beneficiaries get the monthly fee waived on BMO Practical Chequing Accounts.

• How do I sign up for BMO online banking?

  To sign up for BMO online banking or begin using the BMO Mobile Banking app, you'll need to register for access using your debit or credit card number. You'll be asked to create a BMO Digital Banking password, which will be needed to login in the future.

  For added security, you can enable 2-factor authentication under Security Settings in your account. This requires anyone logging into your account to answer a challenge question or enter a code sent to your phone.

• Are there any BMO Canadian forces banking products?

  Yes, members of the Canadian Armed Forces (CAF) can enjoy no monthly fees with the BMO Performance Chequing Accounts plus 5 non-BMO ATM withdrawals per month (instead of 1). CAF members also get discounts and preferred rates on mortgages, personal loans and student funding from BMO.

  Additionally, the BMO Support our Troops CashBack Mastercard and BMO Support our Troops AIR MILES Mastercard come with no annual fees, rewards on every purchase, car rental discounts and more. Every purchase made with these credit cards supports Canadian Forces morale and welfare programs.

  Dive deeper Banking products for the Canadian Armed Forces (CAF)