We’re making changes to some of our Banking Fees and Programs effective May 1, 2025. Learn more
Benefits
More perks, more to enjoy
One household, one monthly fee
No-fee daily banking with private chequing accounts for family members – only with the BMO Family Bundle*86
Identity theft support at no charge
Save over $150 a year*74 with OnGuard® Identity Theft Protection
Up to $150 annual credit card rebate
Get up to $150 rebated annually on an eligible BMO credit card*10
Compare
Explore the bonuses, features, and fees for our chequing accounts
Premium $30.95 per month or $0 with a $6,000 minimum balance | 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 | $700 | $100 |
Family Bundle bonus*86 | ✓ | ✓ | X |
Savings Amplifier Account promotional interest rate footnote star, star | Up to | Up to | Up to |
Transactions per month*52 | Unlimited | 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 | Included | - |
Family Bundle*86 | Available with this account | Available with this account | - |
$150 | $40 | - | |
Additional accounts | Canadian dollar and US dollar chequing and savings account at no cost*3 | Canadian dollar and US dollar chequing and savings account at no cost*3 | Canadian dollar and US dollar chequing and savings account at no cost*3 |
Additional features | No fee for select Cheques*54 No fee for Stop Payments*50 Safety Deposit Box Annual $12 Discount*64 Preferred exchange rate for U.S. dollar*35 | - | - |
Monthly plan fee*4 | $30.95 OR $0/month with min. $6,000 balance | $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 | Unlimited worldwide no BMO fees | 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 | No monthly fee | $5/month | $5/month |
Global Money Transfers*98 | No fee | 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.
Helping you make real financial progress
3,300 + no fee ATMs
Bank at BMO ATMs for no fee and visit us for personalized support at a branch.
Award-winning digital banking
Explore features like BMO CreditView®, BMO Savings Goals, and BMO QuickPay.
Interactive financial tools like BMO SmartProgress™
Learn more about everyday banking, saving, investing, budgeting, home buying, and more on our interactive learning platform.
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
Our online application is fast, easy, and accessible.
Sign up for BMO Online Banking
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.
Premium Chequing Account FAQs
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:
- 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.
- 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.
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 B M O Premium Chequing Account, you get unlimited transactions*52 per month.
When you move money out of your account – like an A 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 A 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.
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.
Ready to get started?
Open an account online
Apply for an account online in as little as 7 minutes.
Come in and talk to us
Drop by your nearest branch to get personalized support.