Get rewarded with up to $1400 footnote section in value.
What is a bank account?
A bank account is a financial account that allows you to store and access your funds. There are two main types of bank accounts: chequing accounts, used for daily transactions, and savings accounts, used to set aside money you don’t plan on using every day.
Banking that's made for you
Unlimited no fee self-serve transfers to your other BMO accounts*99 including mobile and online transfers, and ATM- No monthly fee or minimum balance
- Benefit from a competitive interest rate and earn money back when you save
- Start using the BMO Savings Goals Feature
Helping you make real financial progress
3,300 + no fee ATMs
Bank at BMO ATMs for no fee and visit us for personalized support at a branch.
Award-winning digital banking
Explore features like BMO CreditView®, BMO Savings Goals, and BMO QuickPay.
Interactive financial tools like BMO SmartProgress™
Learn more about everyday banking, saving, investing, budgeting, home buying, and more on our interactive learning platform.
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.
Open a bank account online in minutes
Choose an account
Find the right account for you.
Complete the online application
Our online application is fast, easy, and accessible.
Sign up for BMO Online Banking
Register for BMO Online Banking and start using the BMO mobile banking app.
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.
One household, one monthly fee
Open a qualifying chequing account and save on fees for family members with the BMO Family Bundle.*86
Bank Accounts FAQs
BMO offers several chequing accounts, including:
- Performance: Get an opening bonus as well as unlimited transactions, and no monthly plan fee when you maintain a $4,000 balance. You can also get up to $40 in rebates on the annual fee for eligible BMO credit cards, OnGuard Identity Theft Protection, and other benefits.
- Premium: Get an opening cash bonus as well as unlimited transactions, and no monthly plan fee when you maintain a $6,000 balance. You can also get no fee Global Money Transfers, up to $150 in rebates on the annual fee for eligible BMO credit cards, OnGuard Identity Theft Protection, and other benefits.
- Plus: Get an opening cash bonus as well as 25 transactions per month, and no monthly plan fee when you maintain a $3,000 balance.
- Practical: Get a low monthly plan fee of $4.00, 12 transactions per month, and unlimited INTERAC e-Transfers®section
- AIR MILES: Earn 1 AIR MILES Reward Mile for every $30 spent using your BMO Debit Card, and 25 Bonus Miles each month with a BMO AIR MILES World Mastercard®* or BMO AIR MILES World Elite®* Mastercard.
BMO offers several savings accounts, including:
- Savings Amplifier: Earn a competitive interest rate and get unlimited self-serve transfers with no monthly fees. You can earn a bonus interest rate when you open a Savings Amplifier Account and a BMO chequing account.
- Savings Builder: Get a base interest rate each month to maximize your savings and one free transfer a month. You can earn additional interest when you increase your monthly balance by at least $200 each month.
- Premium Rate Savings: Open this account together with a BMO chequing account under the same plan. Earn daily interest on every dollar. Transaction fees vary depending on the plan you choose.
- U.S. Dollar Premium Rate Savings: Open this account together with a BMO chequing account under the same plan. Save in U.S. dollars and earn interest. Transaction fees vary depending on the plan you choose.
To open a bank account with us, you’ll need your Social Insurance Number (SIN) and a Canadian address. Fill out an application and open a bank account online in 7 minutes or less. Once you open an account, sign up for online banking to get started. All you need is a BMO Debit Card and your bank account number or your BMO credit card.
Explore our digital banking features, get more details about your bank account balance and find a plan right for you based on your lifestyle and banking needs.
Yes, you can access your bank account outside of Canada by using BMO digital banking. Once you register for BMO digital banking, you can transfer funds, manage your account balances, send INTERAC e-Transfers® footnote section, and more online.
Learn more our digital banking features.
Manage your pre-authorized payments with BMO Powerswitch
With BMO Powerswitch, we make switching to BMO easy. Simply transfer your pre-authorized payments from another financial institution to your new BMO bank account online in minutes. Current BMO customer can also use BMO Powerswitch to manage pre-authorized payments.
Resources
What is a chequing account and how can it work for you?
Learn everything you need to know about chequing accounts so you can do more with your money.
How to find the best chequing account for your lifestyle
Why settle for a generic chequing account when you can find one that fits your lifestyle?
What’s the difference between a chequing and savings account?
Compare chequing vs. savings accounts and learn how you can use them both to your advantage.
Need help? That’s what we’re here for.
Come in and talk to us
Drop by your nearest branch to get personalized support.