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Banking Fees and Agreements

Our Agreements, Bank Plans and Fees for Everyday Banking booklet provides you with a complete list of account features, fees, and agreements for your BMO chequing and savings accounts, which include:

  • Required identification to open an account or cash a Government of Canada cheque
  • Our cheque hold policy
  • Electronic Banking Services Agreement
  • Fee change notifications
Download the booklet (PDF, 386 KB)

Use the Financial Consumer Agency of Canada’s Account Selector Tool to compare bank accounts in Canada.

Voluntary Codes of Conduct and Public Commitments

Save on bank fees

Want to save money on bank fees? We’ll show you how!

Prefer to avoid paying fees for moving your money? We’ve got you covered.

ATM fees can add up quickly. The good news is that we can help you avoid them.

  • Over 2,150 BMO ATM in Canada means that there are plenty of convenient places to bank on the go

  • Enjoy unlimited non-BMO ATM withdrawals worldwide*53 with the Premium Plan Chequing Account

  • Take advantage of online services like Interace-Transferfootnote registered section transactions to send money to family and friends

Avoid the stress and inconvenience of NSF fees by applying for Overdraft Protection

  • Get overdraft coverage from $250 to $2,500*20,*21

  • Avoid paying for non-sufficent funds (N S F) fees or declined transactions

  • Enjoy Standard Overdraft Protection for only $5 a month plus any applicable interest charges

LEARN ABOUT OVERDRAFT PROTECTION >

Say goodbye to monthly fees

Want to skip the monthly Plan fee? Keep a minimum daily closing balance in your BMO Premium, Performance and Plus Primary Chequing Accounts and we’ll waive the fee.

  • Primary Chequing Account with Plus Plan

    $11.95

    $0 with min. $3,000 balance*4
    Learn more

  • Primary Chequing Account with Performance Plan

    $17.95

    $0 with min. $4,000 balance*4

  • Primary Chequing Account with Premium Plan

    $30.95

    $0 with min. $6,000 balance*4

Special offers for students, seniors and more

  • Students

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

    Explore offers

  • Newcomers to Canada

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

    Explore offers

  • Seniors

    Everyday banking solutions designed for seniors, including a no monthly fee*83 chequing plan.

    Explore offers

  • Indigenous

    Enjoy banking with no monthly plan fee for a year*93 and preferred rates on other banking options.

    Explore offers

  • Kids & teens

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

    Explore offers

  • Family

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

    Explore offers

  • Canadian Defence Community

    Bank with no monthly fees*80 and get flexible mortgage options.

    Explore offers

  • Business owners

    Find a business bank account that fits your needs, whether you’re just starting out, growing or established.

    Explore offers

Banking Fees and Agreements F A Qs

  • Banking fees are a way to help pay for the convenient, reliable services that we provide to customers. A few examples include:

    • A network of more than 850 branches

    • Over 2,150 BMO ATM

    • Innovation and new technology such as B M O Quick PayTM

    • Online, mobile, and telephone banking

  • Basically, any action you take that moves money out of your account 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.

  • Some chequing accounts will waive your monthly bank plan fee if you keep a minimum daily closing balance in your account.

    For example, Our BMO Performance Chequing Account has a monthly fee of $17.95 but if you keep at least $4,000 in your account, you won’t be charged the monthly plan fee.

    Your account balance is calculated daily, so you need to maintain the minimum balance every day of the month to have your fee waived.

  • Absolutely! We offer unlimited Interac e-Transfer transactions*39 on all Bank Plans at no additional cost. This offer extends to all Canadian dollar chequing and Premium Rate Savings accounts that are part of those plans. Any Interac e-Transfer transactions that are cancelled are subject to a cancellation fee.

    Keep in mind that if you have the Practical, Plus, Standard, i.connect or Enhanced Plan, each Interac e-Transfer transaction you send counts towards your Plan’s monthly transaction limit.

    Also, there may be limits to what you can send as well.*39

  • When you use your BMO Debit Card to withdraw cash at a non-BMO ATM in or outside of Canada or a non-BMO Harris Bank ATM in the United States, we may charge a fee when you complete the transaction.

    If you find yourself using a non-BMO ATM frequently, you may consider asking a merchant for cash back when using your debit card to make a purchase. You get cash in hand and it saves you a trip to the bank!

    Also, our B M O Premium Chequing Account offers unlimited non-BMO ATM withdrawals and we won’t charge you a fee.

    Keep in mind that most ATM will charge a convenience fee that you will need to authorize before completing the withdrawal. This fee is not charged by BMO and will be included in the amount of the withdrawal.

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Learn more about your options and find out which account is the best fit for you.

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