Seniors Banking
We know financial needs evolve over time. That’s why we have tailored banking solutions for anyone aged 60 and over.
Everyday banking solutions designed for seniors- Seamless, accessible in-branch services
- Digital banking support and education
- Alternate format statements such as large print and braille
- Ongoing commitment to the principles of the Code of Conduct for Delivery of Banking Services to Seniors
How can we help you?
If you’re 60 years or older, you can enjoy these account benefits.
- No monthly fee*83 with a Practical Plan chequing account that comes with 12 monthly transactions*52
- Additional savings account at no extra cost*1, *3
- Discounts on monthly fees on all chequing account plans*66, *83
- Maintain a minimum daily balance and get your monthly fee waived for the Plus, Performance or Premium Plan*4
Here are some of our most popular cards among seniors.
BMO® AIR MILES®† Mastercard®*
- Get 800 AIR MILES Bonus Miles footnote double dagger
- 1.99% introductory interest rate on balance transfers for 9 months with a 1% transfer fee. footnote section
- No annual fees footnote 8
BMO® CashBack®† Mastercard®*
- Get up to 5% cash back in your first 3 month footnote double dagger, double dagger
- 1.99% introductory interest rate on balance transfers for 9 months with a 1% transfer fee footnote section, section
- No annual fees footnote 8
As a senior, you get complimentary financial planning and ongoing support. We can help you with personalized solutions.
- Give yourself peace of mind with professional retirement planning support
- Ensure that your legacy is well protected with estate planning and trusts
Whether you’re contributing to your retirement or it’s actually time to kick back and relax, we’ve got investment options for you.
- Registered Retirement Income Funds (RRIF) are a great way to manage your retirement savings after you retire
- Guaranteed Investment Certificates (GICs) for a safe and secure investment that protects your principle.
- Professionally managed mutual funds with no fees for purchases, switches or redemptions
Let’s find the right way for you to borrow money.
- A Homeowner’s Line of Credit can tap into the equity of your home, and also lower your borrowing costs
- A Personal Line of Credit, for when you’re uncertain how much you’ll want or need to borrow
- Personal loans for just about any of your borrowing needs
Looking for the right way to finance your property needs? Here’s how we can help you.
- Talk to a mortgage expert to find the right option for you
- Renew over the phone in minutes if you already have a mortgage with us
- Refinance your mortgage to borrow up to 80% of your home’s value
Travel Insurance
Interested in Travel Insurance? Here’s a packing list must
Whether you are travelling across Canada or around the world, BMO Travel Insurance footnote 1, footnote 2 has the plan to meet your travel insurance needs. Protect yourself against travel hiccups!
Find the right coverage for your trip, including:
- Emergency Medical
- Trip Cancellation, Flight Delay, Baggage & Personal Effects
- Plus, all plans come with 24/7 emergency assistance, and a network of medical and travel insurance professionals ready to help you.
Or Call 1-800-661-9060
In-branch or at home: We’re here to serve you
Visit a branch, designed with you in mind
- Accessible locations, with automatic doors and barrier free access
- Sit-down wickets for those with accessibility needs
- automated teller machines with audio jacks and braille to help customers with vision loss to manage their banking
- Larger print materials are available
- Accommodations can be made to provide a quiet and accessible space where private discussions can be held upon request
- Sign language interpreters are available by special request.
Banking from the comfort of your home
Digital banking
Looking for some help getting started with digital banking? We’ve put together some learning tools to help you get the most out of your online banking experience.
Telephone Banking Services
Still have questions? You can always reach us on the phone too. Call 1-877-CALL-BMO (1-877-225-5266)
frequently asked questions
To get started with digital banking, we recommend exploring our video guides on bmodemos.com. You can learn how to sign up for digital banking, pay bills online, transfer money between accounts, deposit a cheque and send money to friends. If you need help, visit a BMO branch and we’ll be happy to give you a walkthrough.
Your money will be safe when you bank with BMO. Your security is our priority whenever and wherever you bank. Whether you bank in branch or online, you can be confident that your private details are protected across all platforms. Under the BMO Digital Banking Security Guarantee, you are not liable for any unauthorized transactions. Learn more about our security guarantee in our Electronic Banking Services Agreement. To help protect yourself from fraudsters, check out our Security Centre.
Seniors won’t have to pay monthly banking fees with the Practical Plan chequing account. We also offer seniors’ discounts on all chequing accounts.
There is no maximum limit on how much money a senior citizen can have in their BMO bank accounts. However, depending on the plan you choose, there may be a minimum daily balance requirement to get monthly plan fees waived. Bank of Montreal and its subsidiaries Bank of Montreal Mortgage Corporation and BMO Trust Company are members of the Canada Deposit Insurance Corporation (CDIC), which is a federal Crown corporation that insures Canadians’ savings in case their bank fails or goes bankrupt.
Compare bank account products on our senior bank accounts page or book an appointment with us.
BMO considers someone a senior at the age of 60. To qualify for the Senior Discounted Banking Program, you must be 60 years of age or older.
Additional resources you may be interested in
Power of attorney
Get to understand how power of attorney (POA) works, the different kinds of POA, and how to grant POA.
Online security centre
Let's keep working together to keep your financial and personal info safe. Learn how to spot fraud, common scams and ways to prevent financial elder abuse. Get free software to secure your browser, and bank with confidence knowing we’ll reimburse you 100% footnote starfor any losses from unauthorized transactions.
Report fraud
If you’re ever concerned about an email, text or call that you’re not sure is from BMO, reach out to us. Remember, we’ll never contact you by email or phone asking for personal info or account details.
Need help? That’s what we’re here for.
Come in and talk to us
Drop by the nearest branch to chat about your financial future.
footnote star details We’ll reimburse you 100% for any losses to your personal bank accounts resulting from unauthorized transactions through BMO Online and Mobile Banking. To ensure reimbursement under this guarantee, there are a few necessary steps you must complete, as outlined in our Electronic Banking Services Agreement. We also recommend safeguarding your computer.
- Footnote 1 details. Travel Insurance is provided by CUMIS General Insurance Company (www.cumis.com) a member of The Co-operators group of companies (CUMIS), and administered by Allianz Global Assistance, which is a registered business name of AZGA Service Canada Inc., who can be reached at 1-800-661-9060.
- Footnote 2 details. If you're 60 years of age or older, to confirm your eligibility and determine your premium, complete a medical questionnaire online or by phone. For full details, see the Certificate of Insurance.