Benefits
Enjoy preferred exchange rates, no monthly fee, and more
No monthly fee
Pay no monthly fee with this account when you maintain a qualifying minimum balance with an eligible Canadian Chequing Account*4
No fee USD cash withdrawals in Canada
Pay no extra fees for USD cash withdrawals from a BMO ATM in Canada with an eligible Canadian Chequing Account*53
Preferred exchange rates
Get preferred rates on BMO USD transfers with online or mobile banking, up to $5,000 USD daily with an eligible Canadian Chequing Account*35
BMO Global Money Transfer
Transfer funds quickly and securely to nearly 70 destinations in USD from your U.S. dollar account*103
Fees
Explore the fees for the U.S. Dollar Primary Chequing Account
Transaction type | Fee |
| Monthly fee | No Fee for the account Chequing account fee based on Plan limits |
| Daily minimum balance | No minimum balance requirements for the account Chequing account minimum balance based on Plan limits |
| Number of transactions per month | Transactions based on chequing account Plan limits |
| Maximum number of accounts | 1 with Practical account20 with all other accounts*1*3 |
| Eligibility with Plans*3 | Can be included in any Canadian chequing account |
Full disclosure for the BMO U.S. Dollar Primary Chequing Account
Travel safer with BMO
Take advantage of our travel services so you can focus on enjoying your trip.
Travel insurance - Get protection for your vacation, your luggage, yourself and your family while travelling.- Prepaid credit cards - Get the convenience of cash and the ease of a credit card in one.
- Cross-border banking - Transfer funds between CAD and USD accounts seamlessly for simple and flexible cross-border money management.
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.
Helping you make real financial progress
3,300 + ATMs and 900 branches across Canada
Bank at BMO ATMs for no fee and visit us for personalized support at a branch.
Award-winning digital banking
Explore features like BMO CreditCoach, BMO Savings Goals, and BMO QuickPay.
Interactive financial tools with BMO SmartProgress™
Learn more about everyday banking, saving, investing, budgeting, home buying, and more on our interactive learning platform.
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 BMO CashTrack, an artificial intelligence (AI) driven capability.
Read our recent articles
What is a chequing account? Learn how the account works
We examine the ubiquitous chequing account - its versatility, benefits, types and more - and why it’s so popular.
What’s the difference between a chequing and a savings account?
Compare chequing vs. savings accounts and learn how you can use them both to your advantage.
How to find the best chequing account
Why settle for a generic chequing account when you can find one that fits your lifestyle?
U.S. Dollar Primary Chequing Account FAQs
A U.S. Dollar Primary Chequing Account with BMO is a type of chequing account that allows Canadians to store their money in U.S. currency. This way, you don’t have to deal with the hassle of currency exchange fees between USD and CAD. This account comes with key features including U.S. dollar cash withdrawals in Canada, no monthly fees, preferred exchange rates*35 and BMO Global Money Transfer for easy daily banking.It’s a great option if you’re a frequent traveller to the U.S. and looking for easy cross-border banking options.
You can open a U.S. Primary Chequing or Savings Account with BMO through Online Banking. If you’re an existing BMO customer, you can sign in to Online Banking to add the U.S. Dollar Primary Chequing Account.If you’re new to BMO, you’ll need to get a chequing account with us first*3 before you can add the U.S. Dollar Primary Chequing Account. You can do that in three simple steps:1. Open a chequing account. Choose any of our chequing accounts that fits your everyday banking needs.
2. Complete the online application. You’ll need to provide basic information like your name, address, employment information, and Social Insurance Number (SIN).
3. Sign up for BMO Online Banking. Register for BMO Online Banking and start using the BMO Mobile Banking App.
The number of transactions you get per month with the BMO U.S. Dollar Primary Chequing Account will depend on your Canadian chequing account. When you move money out of your account – like an ATM withdrawal, bill payment or pre-authorized payment – that counts as a transaction. This means that any USD cash withdrawals you make at ATMs in Canada also count towards your transactions per month.Money coming into your account – like payroll direct deposits or cash deposits at an ATM – don’t count as transactions.
Yes, Canadians can open USD bank accounts at BMO online or in-person. You don’t need to have proof of U.S. residency or a Social Security Number. Some things you may be asked for include:
- Valid Canadian government identification
- Your Canadian address
- Your Social Insurance Number (SIN)
- Proof of employment (ex. an offer letter, a pay stub, or an employment verification letter)
Ready to get started?
Visit Us
Visit a branch near your home for personalized support.
Open an account online
Apply for an account online in as little as 7 minutes.
Come in and talk to us
Drop by your nearest branch to set up your new account.
