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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Overdraft Protection

Enjoy the peace of mind that comes with having overdraft protection on your account1. It's a simple way to cover unexpected shortfalls in your account and avoid the potential embarrassment of a declined transaction or the cost and inconvenience of a returned cheque.

Our Overdraft Protection has two fee options:

 
  1. Standard
    This option is best suited if you may use the Overdraft Protection once a month or more
    • Coverage available from $500 to $2,5002
    • Your account must have monthly deposits and a positive balance at least once every 90 days
    • A $4.00 monthly fee applies2, 3
  2. Occasional
    This option is best suited if you don't regularly use Overdraft Protection and would like to have the protection for peace of mind
    • Coverage available from $500 to $2,5002
    • Your account must have monthly deposits and a positive balance at least once every 90 days
    • There is no monthly fee. A $5.00 fee per transaction applies2, 3

Overdraft Transfer Service provides protection against unexpected shortfalls at a low per-transaction fee3,4. You can pre-arrange to have available funds transferred to your BMO account from one of your other BMO accounts, your BMO credit card or your BMO line of credit to cover any accidental overdrafts5. A fee of $5 per transfer applies.

1 Available to qualified customers.
2 Interest will be calculated on the daily overdraft balance at prevailing overdraft interest rates and charged to the account on the last business day of the month.
3 Transaction fees are waived if you have selected the Premium Plan.
4 Transaction fees are waived with the Student and Recent Graduate or Seniors Discounted Banking Program.
5 You are required to provide initial set-up instructions for this service.

Book your own appointment. Get Started.
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