12 INTERAC e-Transfer® footnote section*39 transactions.
Benefits
Everyday banking with great perks
Compare
Explore the bonuses, features, and fees for our chequing accounts
Practical $4 per month
| Performance $17.95 per month or $0 with a $4,000 minimum balance
| Plus $11.95 per month or $0 with a $3,000 minimum balance
| |
|---|---|---|---|
Welcome cash bonus* | - | $700 | $100 |
Family Bundle bonus*86 | X | ✓ | ‐ |
Savings Amplifier Account promotional interest rate** | Up to | Up to | Up to |
Transactions per month*52 | 12 | Unlimited | 25 |
INTERAC e-Transfer®§ transactions per month*39 | Included | Included | Included |
BMO ATM withdrawals*53 | $0 | $0 | $0 |
OnGuard Identity Theft Protection*74 | - | Included | - |
Family Bundle*86 | - | Available with this account | - |
Credit card rebate*15 | - | $40 | - |
Additional accounts | Up to two Canadian dollar or U.S. dollar chequing and savings account at no cost*3 | Canadian dollar and U.S. dollar chequing and savings account at no cost*3 | Canadian dollar and U.S. dollar chequing and savings account at no cost*3 |
Additional features | - | - | - |
Monthly Plan fee*4 | $4/month | $17.95 OR $0/month with min. $4,000 balance | $11.95 OR $0/month with min. $3,000 balance |
Non-BMO ATM withdrawals*53 | $2 each in Canada, $5 each outside of Canada | 1 Canadian withdrawal included per month, then $2 each in Canada, $5 each outside Canada | $2 each in Canada, $5 each outside of Canada |
Standard overdraft protection*20 | $5/month | $5/month | $5/month |
Global Money Transfers*98 | $5 per transfer | No fee | $5 per transfer |
Compare chequing accounts to find the right one for you
Choose a BMO chequing account that meets your unique needs.
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Explore features like BMO CreditView®, BMO Savings Goals, and BMO QuickPay.
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Students
Newcomers to Canada
Seniors
Everyday banking solutions designed for seniors, including a no monthly fee*83 chequing plan.
Indigenous
Enjoy banking with no monthly plan fee for a year*93 and preferred rates on other banking options.
Kids & teens
Canadian Defence Community
Bank with no monthly fees*80 and get flexible mortgage options.
Business owners
Find a business bank account that fits your needs, whether you’re just starting out, growing or established.
Open a chequing account online in minutes
Choose an account
Find the right account for you or let us help you choose.
Complete the online application
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Register for BMO Online Banking and start using the BMO mobile banking app.
Mobile
Easy, secure digital banking
Award-winning mobile banking
Recognized for Excellence in Digital Banking for a third year in a row.
Honoured for digital money management features and account alerts.
Awarded for BMO CashTrack, an artificial intelligence (AI) driven capability.
Frequently asked questions
A Practical Chequing Account works just like a regular chequing account and can be used to store your daily spending money, but with additional perks. You can do everyday transactions with a chequing account, such as depositing your paycheques, paying bills and expenses, transferring money to other accounts, and making A T M withdrawals.
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 best used for day-to-day transactions. It’s known as a deposit account and is designed to hold your money for short-term needs.
A savings account, on the other hand, is designed to hold your money for longer periods so that you can save it, and potentially earn interest on your account balance.
Open a BMO Practical Chequing Account in three simple steps:
- Choose the account you’d like to open. We offer two low fee chequing accounts. We offer two low-fee chequing accounts: the Plus Chequing account or the Practical Chequing account.
- Complete the online application. You’ll need to provide basic information like your name, address, employment information, and Social Insurance Number (SIN).
- 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.
With the BMO Practical Chequing Account, you get up to 12 debit transactions*52 per month. Any fare payments made with your BMO debit card at participating Canadian public transit authorities won’t count toward this limit, whether you tap your card or mobile wallet at a fare reader.
When you move money out of your account – like an ATM 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 ATM – don’t count as transactions.
How can I compare chequing accounts at BMO?
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 account through BMO online banking. Learn more about adding another BMO chequing account.
When you open a BMO Practical 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
Manage your pre-authorized payments with BMO Powerswitch
With BMO Powerswitch, we make switching to BMO easy. Simply transfer your pre-authorized payments from another financial institution to your new BMO bank account online in minutes. Current BMO customer can also use BMO Powerswitch to manage pre-authorized payments.
Resources
What is a chequing account and how can it work for you?
Learn everything you need to know about chequing accounts so you can do more with your money.
How to find the best chequing account for your lifestyle
Why settle for a generic chequing account when you can find one that fits your lifestyle?
What’s the difference between a chequing and savings account?
Compare chequing vs. savings accounts and learn how you can use them both to your advantage.
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®†OnGuard is a registered trademark of Sigma Loyalty Group Inc.
®Identity Guard is a registered trademark of Intersections Inc.
®†/™† Trademarks of AM Royalties Limited Partnership used under license by LoyaltyOne, Co. and Bank of Montreal.
®* Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used under license.
®§ INTERAC e-Transfer is a registered trademark of Interac Inc. Used under license.