Premium Chequing Account

A Premium Chequing Account operates just like a regular chequing account and is a place where you can store your money, but with additional perks. BMO’s Premium Chequing Account gives you more flexibility in your everyday banking, including unlimited transactions and INTERAC e-transfers, fraud protection and a $700 welcome bonus.

The main differences between a savings account and a chequing account come down to how many transactions you can make per month, the fees you incur, and the potential each account offers for earning interest. 



A chequing account is a great option for managing your everyday transactions, such as paying your rent or mortgage, doing in-store debit card purchases, or sending money online. With the BMO Premium Chequing Account, you get unlimited transactions and Interac e-Transfer^®§ transactions, making it that much easier for you to bank day to day.

A savings account is ideal if you’re trying to set money aside for a big purchase or financial move, such as a vacation, a car purchase, buying property, or completing a home renovation. With a savings account like BMO Savings Amplifier, you get access to competitive interest rate to encourage you to save and earn interest on your deposits.

Open a BMO Premium Chequing Account in three simple steps:

1. Choose the account you’d like to open. We offer several chequing accounts, including the Performance Chequing Account, Premium Chequing Account, and Plus Chequing Accounts.
2. Complete the online application. You’ll need to provide basic information like your name, address, employment information, and Social Insurance Number (SIN).
3. Sign up for BMO Online Banking. Register for BMO Online Banking and start using the BMO mobile banking app.

There are a few ways that you can add funds to your account conveniently and securely, both in-person or online:

• At a branch or ATM: Visit your nearest local branch or ATM to deposit cash and cheques.
• Mobile deposit: Use the BMO Mobile Banking App to deposit cheques instantly to your account and save yourself a trip to the bank.
• Auto-deposit: Get your paycheques and other payments automatically paid to your account by setting up through BMO Online Banking.

There’s no minimum balance required with a BMO Premium Chequing Account. If you keep and maintain at least $6,000 in the account, we’ll waive the monthly account fee. Plus, you’ll be eligible for an additional $450^* welcome bonus for opening this account.

With the BMOB M O Premium Chequing Account, you get unlimited transactions^*52 per month.

When you move money out of your account – like an ATMA T M withdrawal, bill payment or pre-authorized payment – that counts as a transaction. Money coming into your account – like payroll direct deposits or cash deposits at an ATMA T M – don’t count as transactions.

Compare chequing accounts at BMO with our Help Me Choose Tool. This tool makes it easy and fast to determine which chequing accounts best fit your financial plans. You can also compare all our chequing accounts online to help you decide which option works for you.

Can I have multiple chequing accounts at BMO?

Yes, you can open multiple chequing accounts at BMO or add additional chequing accounts to your existing plan through BMO online banking. Learn more about adding another BMO chequing account.

When you open a BMO Premium Chequing Account and a BMO Savings Amplifier Account at the same time online, you’ll also be eligible for a bonus interest rate for your savings account.^*13

What is the best chequing account with no monthly plan fee at BMO?

The BMO Premium Chequing Account is a great option, with no monthly plan fee when you maintain the minimum monthly balance of $6,000.^*6 You also get a $450 opening bonus^* and unlimited transactions per month.^*52

The BMO Performance Chequing Account is a is also another good option, as there is no monthly plan fee when you maintain the minimum monthly balance of $4,000.^*4 You also get a $450 opening bonus^* and unlimited transactions per month.