We’ve enhanced our BMO NewStart® program to meet the immediate banking needs for newcomers from Ukraine. Learn more.
Newcomer Bank Accounts
New to Canada within the last 5 years? Enjoy a few perks on us! It’s our way of welcoming you home.
Enjoy unlimited monthly transactions with no monthly Plan fee for two years with the Performance Plan- Send BMO Global Money Transfers with no-fee
- Protect your documents in a safety deposit box and get a $60 cash bonus
- Get personalized financial advice at a branch near you
- Explore our financial wellness tool, BMO SmartProgress™
Let's find you the right bank account
Performance or $0 with a $4,000 balance | Premium $30.95 per month or $0 with min. $6,000 balance
| Practical $4.00 per month or $0 with min. $3000 balance | |
|---|---|---|---|
Opening Cash Bonus | * | * | * |
Family Bundle Bonus | Included | Included | Not included |
Transactions per month*52 | Unlimited | Unlimited | 12*89 |
Interac e-Transfer®§ transactions per month*39 | Unlimited($3,000 daily maximum) | Unlimited($3,000 daily maximum) | Unlimited($3,000 daily maximum) |
Monthly Plan fee*4 | | $30.95OR$0 with min. $6,000 balance | $4.00OR$0 with min. $3,000 balance |
Annual BMO Credit Card fee rebate | Up to $40 rebate on the annual fee for eligible BMO credit cards*15 | Up to $150 rebate on the annual fee for an eligible BMO credit card*10 | N/A |
Non-BMO ATM withdrawals per month*53 | 1 Canadian withdrawal inlcudedThen $2 each in Canada, $5 each in U.S., $5 each outside Canada and U.S. | Unlimited worldwide*53No BMO fees | $2 each in Canada, $5 each in U.S., $5 each outside Canada and U.S. |
Standard overdraft protection*20 | $5/month | No monthly fee | $5/month |
Mobile
Easy, secure digital banking
Send money home with BMO Global Money Transfer
Send money overseas quickly and securely through the BMO Mobile Banking App. Enjoy transfers with no-feeas part of the BMO NewStart® Program. Transfers take just two to five business days,*97 and you’ll be notified as soon as the money is received.
Enjoy more offers from BMO
Bonus interest on GICs
Newcomers to Canada FAQs
Our BMO NewStart® Performance Plan Chequing account offer is open to permanent residents and foreign workers who have arrived in Canada within the last five years. You’ll need the following on hand:
- Proof of immigration status: Your Canadian Permanent Resident Card, confirmation of Permanent Residence (IMM 5292 or IMM 5688) or your work permit (IM 1442)
- One piece of government photo ID: This can include your passport or a Canadian driver’s license. More information about valid photo identification
Check out these useful resources
The BMO NewStart® Program *69
Get your new life in Canada off to a great start with these accounts and services.
Resources & advice
Have you moved to Canada recently, or are you planning to? Check out these tips and services.
Need help? That's what we're here for.
Come in and talk to us
Drop by your nearest branch to chat about your financial future.
Find a branch
Locate a BMO branch near you.
footnote dagger detailsSubject to credit approval. To be eligible for the BMO NewStart® Program, you must be a permanent resident or foreign worker who arrived in Canada within the last five (5) years, and you must be at the age of majority in your province or territory of residence at the time of account opening. Proof that your status was obtained within the last five (5) years is required as evidenced by their Canadian Permanent Resident Card, Confirmation of permanent residency or work permit (IMM 1442). A credit history in Canada is not required in order to be eligible for a credit card under the BMO NewStart®Program. If you don’t qualify for an unsecured BMO credit card, you may still be eligible for a credit card provided you give us a security deposit and meet BMO’s eligibility criteria.
footnote, registered sign, daggerOnGuard is a registered trademark of Sigma Loyalty Group Inc.
footnote, registered signIdentity Guard is a registered trademark of Intersections Inc.
®†/™† Trademarks of AM Royalties Limited Partnership used under license by LoyaltyOne, Co. and Bank of Montreal
footnote registered sign asteriskMastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used under license.
footnote, registered sign, sectionInterac e-Transfer is a registered trademark of Interac Inc. Used under license.
± Trademark of Visa International Service Association and used under license.
Footnote delta detailsCalculation assumes the following:
- A balance of $50,000 is deposited into a 1-year BMO Guaranteed Investment Certificate at a 2.90% interest rate where regular rate is 2.25% and the Newstart program applies a special bonus interest of 0.65% to total rate.
- Note that the regular and bonus interest listed for New Canadians issubject to change or be withdrawn at any time without notice.This bonus rate is as of December 9, 2025.
- Interest rates are calculated on a per annum basis. Any Interest is calculated on the deposit amount and redeemed at the end of the term. Interest is paid in the same currency as the account.
All Walmart Canada trademarks are the property of Walmart Apollo, LLC and are used by BMO with permission. All rights reserved. For gift card terms and conditions, visit the Walmart Canada website.