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Overdraft protection

If you’re concerned your account may not have enough funds to cover upcoming expenses, overdraft protection can help you avoid the inconvenience of extra fees and declined transactions.

Ready to get started? Visit your branch to set up overdraft protection.

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What are the benefits of overdraft protection?

Wide coverage

Get coverage from $250 to $2,500*20, *21 on both our Standard and Occasional overdraft plans.

Peace of mind

Forget the stress and potential embarrassment of declined transactions, and don’t get caught paying unwanted non-sufficient funds (NSF) fees.

Low fees

  • $5 a month fee for Standard Overdraft Protection*20.
  • Occasional Overdraft Protection does not carry a monthly fee but does charge $5 per transaction when using overdraft protection*21.

Select your overdraft protection

We offer two types of overdraft protection, so you can choose the plan that suits your needs.

  • Standard Overdraft Protection: Find you’re frequently going into overdraft? No matter how often you do, this plan is $5.00 a month. This fee is waived for Premium Chequing account customers*20.
  • Occasional Overdraft Protection (Not available for residents of Quebec): Take precaution against occasional overdrafts. Forget the monthly fee, and instead pay $5.00 per transaction*21.
  • Still not sure? We also offer an Overdraft Transfer Service. This service lets you pre-arrange to have funds moved from one BMO account to another to cover you in case of overages or insufficient funds. A $5 transaction fee applies*22.

Overdraft protectionFrequently Asked Questions

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Set up with overdraft protection? Here are some other things to try.

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Transfer money

No need to head into a branch. Move your money whenever you want by using Online Banking.

Deposit money into your account

Save yourself a trip to the bank or ATM and get immediate access to your money with mobile cheque deposit.

Want to know more? That’s what we’re here for.

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