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Banking support for newcomers from Ukraine

Open a Performance Chequing Account with the BMO NewStart® Program and enjoy no monthly fee banking for two years*. Plus, you can enjoy many other benefits for credit cards, overseas money transfers and more to make your transition easier.

Up to $1,450 in value!

Performance Chequing Account

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Enjoy more offers from BMO

Build your Canadian credit history

Start building credit with a BMO CashBack® Mastercard®* and enjoy the perks that come with it.

  • Get up to 5% cash back in your first 3 months‡‡
  • No annual fee8
  • No credit history required†
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  • No fee wire transfers to Ukraine‡‡

    We waive the fee for wire transfers from your BMO account to bank accounts in Ukraine.

  • Special pricing on Loans, Lines of Credit and Home Financing

    Discounted interest rates for qualifying customers.

 Download program summary Українською мовою

Chequing account offer FAQs

  • If you are a Permanent Resident, Foreign Worker or Visitor from Ukraine, who arrived in Canada after January 1st, 2022, as confirmed by a valid Ukrainian passport and valid Canadian visa, you can qualify for this offer by applying at any BMO branch*.

  • For complete offer details on the cash bonus offer please review the full terms and conditions.

  • The BMO Family Bundle lets your loved ones enjoy no-fee daily banking*87 with all the benefits and privacy of separate chequing accounts. Get all the details about the BMO Family Bundle.

  • No, the maximum bonus is $50 even if you add more than one family member.

  • Bill payments need to be done through online banking or mobile banking in order to be eligible for the bonus.

  • Bill payments must be a minimum of $50 each in order to qualify for the offer.

  • Pre-authorized payments must be a minimum of $50 each in order to qualify for the offer.

  • Bill payments of at least $50 to BMO Credit Cards through online/mobile banking will be considered as an eligible payment as per campaign criteria. Transfers to BMO Credit Cards through Online/Mobile Banking will not qualify as a bill payment.

Canadian banking basics

Not familiar with Canadian banking? You’re not alone! Let’s help you get a better understanding of our banking basics with this quick guide.

There are two main types of banking accounts in Canada — chequing accounts and savings accounts.
A chequing account is used for daily transactions. A transaction is anything from buying a coffee to paying a bill to depositing money to sending a worldwide transfer.
A savings account is used for saving your money while maintaining easy access to it. Savings accounts sometimes have higher interest rates than chequing accounts, which means you earn more money on the money you’ve saved.
Your credit history is a record of how responsible you are with borrowing money – such as whether you make your payments on time. As a newcomer, you should start building a credit history in Canada.
By building a credit history, you’ll get a credit score, which is a number that represents how creditworthy you are. Banks check your credit score when deciding to lend you money for loans, mortgages, insurance and credit cards.
In Canada, your credit score is a number between 300 and 900, with 900 being the highest possible credit score. The higher your credit score, the more likely a bank is to lend you money — so, the higher the credit score, the better.
We’ve got the right tools to help you get started building a credit history, such as a no annual fee credit card. Plus get tips on how to improve your credit score.
Worldwide transfers let you send money to friends and family almost anywhere in the world. With BMO, you can send money back home several ways, including with Global Money Transfer, wire transfer and Western Union Money Transfer.
BMO Global Money Transfer is a secure way to send money abroad directly to a recipient’s bank account. Transfer funds to up to 50 countries in multiple currencies, with no fee under the BMO NewStart® Program.
Wire transfers are accepted almost anywhere in the world and can be sent quickly and securely from any BMO branch.
Western Union Money Transfers are another secure way to send cash to more than 200 countries.

You can safely and easily send or request money within Canada using an INTERAC e–Transfer. The person you’re transferring money to must have an account with a Canadian bank in order to receive the money. They’re a quick and secure way to send money, and with a BMO chequing account, you get unlimited INTERAC e–Transfer transactions.*39

In Canada, certain bank accounts and products have fees. For example, some credit cards have an annual fee and some chequing accounts have a monthly fee. Fees are standard for Canadian banks and are sometimes waived if you meet certain requirements. As a newcomer to Canada, we’re offering you a chequing account and savings account with no monthly fees for one year, and a no fee credit card.

Any time you move money out of your account, it counts as a transaction — like buying groceries or paying your bills. Money coming into your account — like payroll direct deposits or cash deposits at an ATM— doesn’t count as a transaction.
Transaction fees*52 apply to your BMO debit card. If you have a credit card with us, you don’t have to worry about the number of transactions you make — they’re unlimited!

Ready to get started?

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