Nope – you can enjoy student banking with no monthly Plan fees^*73 when you bank with BMO. In fact, you can save some serious cash – over $215.40 a year on fees!^*65 

If you’re enrolled in a professional education program, like accounting or optometry, you can access special rates and offers. Other professional student programs include:

• Chiropractic
• Law
• MBA
• Pharmacy
• Veterinary Medicine

Learn more about professional student offers.

A line of credit is actually a type of loan that functions like something between a debit and credit card. The line of credit lets you withdraw money up until a certain limit, and use that money on whatever you need – books, tuition, rent, and even groceries. The best part? You only pay interest on what you borrow. To help figure out your budget for the school year, try the student budget calculator.

Student loans tend to be given out federally (although banks can too!) and when paying off your loan you will pay interest on the entire amount borrowed.

A student bank account is a bank account intended for use by students enrolled in a post-secondary educational program.

With a student bank account, you get unlimited transactions, including unlimited Interac e-Transfer^®§footnote registered section transactions.

Investing in a Registered Education Savings Plan (RESP) generates tax sheltered earnings for your child’s education, housing and other expenses. The earlier you start, the more time your money has to grow. Learn more about RESPs.

Yes! You can easily open a BMO student bank account online in about 7 minutes.

You can keep the same account, but some fees may apply if you’re no longer a student. You can continue enjoying student banking for up to 12 months after you graduate, just pop into your closest branch before November 30 of the year you graduate and provide proof of graduation – saving you another $215.40 on Plan fees.^*73star seventy three

If you don’t update your status, regular Plan fees will apply starting in December.

You’ll need a Canadian address, Social Insurance Number (SIN) and proof of full-time enrolment in a post-secondary institution. You can open a student bank account online or at your nearest branch. 

Yes, when you open a student chequing account, you will receive a debit card linked to that account.

The benefits of a student bank account include no monthly Plan fees^*73, unlimited transactions and more. These benefits are available while you’re in school and for up to 12 months after you graduate.

To find more information on financial literacy, you can check out our informative articles on this page. We also have a wide range of financial education resources available for you at BMO Smart Progress^TM.