Get a cash bonus of up to $700 plus a $50 Walmart Canada eGift card footnote star!
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
Unlimited no fee self-serve transfers to your other B M O accounts*99 including mobile and online transfers, and A T M- 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 A T Ms
Bank at BMO ATMs for no fee and visit us for personalized support at a branch.
Award-winning digital banking
Explore features like B M O CreditView®, BMO Savings Goals, and B M O QuickPay.
Interactive financial tools like B M O 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 bank account online in minutes
Choose an account
Find the right account for you.
Complete the online application
Our online application is fast, easy, and accessible.
Sign up for B M O Online Banking
Register for B M O Online Banking and start using the B M O 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 B M O CashTrack, an artificial intelligence (A I) driven capability.
One household, one monthly fee
Open a qualifying chequing account and save on fees for family members with the B M O Family Bundle.*86
Bank Accounts FAQs
B M O 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 B M O 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 B M O 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 B M O Debit Card, and 25 Bonus Miles each month with a B M O AIR MILES World Mastercard®* or B M O AIR MILES World Elite®* Mastercard.
B M O offers several savings accounts, including:
- Savings Amplifier: Earn a competitive interest rate and get unlimited self-serve transfers with no monthly fees. You can earn a bonus interest rate when you open a Savings Amplifier Account and a B M O chequing account.
- Savings Builder: Get a base interest rate each month to maximize your savings and one free transfer a month. You can earn additional interest when you increase your monthly balance by at least $200 each month.
- Premium Rate Savings: Open this account together with a B M O chequing account under the same plan. Earn daily interest on every dollar. Transaction fees vary depending on the plan you choose.
- U . S . Dollar Premium Rate Savings: Open this account together with a B M O chequing account under the same plan. Save in U . S . dollars and earn interest. Transaction fees vary depending on the plan you choose.
To open a bank account with us, you’ll need your Social Insurance Number (S I N) and a Canadian address. Fill out an application and open a bank account online in 7 minutes or less. Once you open an account, sign up for online banking to get started. All you need is a B M O Debit Card and your bank account number or your B M O credit card.
Explore our digital banking features, get more details about your bank account balance and find a plan right for you based on your lifestyle and banking needs.
Yes, you can access your bank account outside of Canada by using B M O digital banking. Once you register for B M O digital banking, you can transfer funds, manage your account balances, send INTERAC e-Transfers® footnote section, and more online.
Learn more our digital banking features.
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.
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