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Bank Accounts

Whatever your goals, we've got an account to help you make real financial progress.

Get a cash bonus of up to $700 plus a $50 Walmart Canada eGift card footnote star!

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What is a bank account?

A bank account is a financial account that allows you to store and access your funds. There are two main types of bank accounts: chequing accounts, used for daily transactions, and savings accounts, used to set aside money you don’t plan on using every day.

Banking that's made for you

Most Popular
$17.95 per month
or $0 with min. $4,000 balance*4
  • Unlimited transactions per month*52
  • BMO Family Bundle - no-fee daily banking *90 for your family
  • Up to $40 rebate on annual fee for eligible credit cards*15
  • OnGuard® Identity Theft Protection at no cost*74
Most Benefits

0.800% interest rate*12

 

  • Unlimited no fee self-serve transfers to your other BMO accounts*99 including mobile and online transfers, and ATM
  • No monthly fee or minimum balance
  • Benefit from a competitive interest rate and earn money back when you save
  • Start using the BMO Savings Goals Feature

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.

Banking for

Benefits for students, seniors, newcomers, and more

  • Students

    Enjoy no monthly Plan fees** while you’re in school and up to 1 year after you graduate.*65 *78

  • Newcomers to Canada

    Get no monthly fee banking for one year*69, no-fee BMO Global Money Transfers,*96 and more.

  • 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

    Provide kids and teens with financial independence by opening a chequing account with no monthly fees.*71 *72

  • Family

    One household, one monthly plan fee with the BMO Family Bundle.

  • 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 bank account online in minutes

step one

Choose an account

Find the right account for you. 

step two

Complete the online application

Our online application is fast, easy, and accessible.

step three

Sign up for BMO Online Banking

Register for BMO Online Banking and start using the BMO mobile banking app.

Mobile

Easy, secure digital banking

Move money on the go
Deposit cheques
Track your savings goals
Get your credit score in minutes

Award-winning mobile banking

Celent Model Bank 2022 badge

Recognized for Excellence in Digital Banking for a third year in a row.

Insider Intelligence logo

Honoured for digital money management features and account alerts.

Bank Administration Institute (B A I) logo

Awarded for BMO CashTrack, an artificial intelligence (AI) driven capability.

One household, one monthly fee

Open a qualifying chequing account and save on fees for family members with the BMO Family Bundle.*86

Bank Accounts FAQs

  • BMO offers several chequing accounts, including:

    • Performance: Get an opening bonus as well as unlimited transactions, and no monthly plan fee when you maintain a $4,000 balance. You can also get up to $40 in rebates on the annual fee for eligible BMO credit cards, OnGuard Identity Theft Protection, and other benefits.
    • Premium: Get an opening cash bonus as well as unlimited transactions, and no monthly plan fee when you maintain a $6,000 balance. You can also get no fee Global Money Transfers, up to $150 in rebates on the annual fee for eligible BMO credit cards, OnGuard Identity Theft Protection, and other benefits.
    • Plus: Get an opening cash bonus as well as 25 transactions per month, and no monthly plan fee when you maintain a $3,000 balance.
    • Practical: Get a low monthly plan fee of $4.00, 12 transactions per month, and unlimited INTERAC e-Transfers®section
    • AIR MILES: Earn 1 AIR MILES Reward Mile for every $30 spent using your BMO Debit Card, and 25 Bonus Miles each month with a BMO AIR MILES World Mastercard®* or BMO AIR MILES World Elite®* Mastercard.

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

Understanding Chequing Accounts in 2025

We examine the ubiquitous chequing account – its versatility, benefits, types and more – and why it’s so popular.

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.

Need help? That’s what we’re here for.

Come in and talk to us

Drop by your nearest branch to get personalized support.