Who is eligible for the BMO NewStart® Performance Plan Chequing account offer?

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 proof of your immigration status such as your Permanent Resident Card or your work permit.

Can I open a bank account before I arrive in Canada?

If you’re planning to move to Canada from China or India , we can give you a head start by helping you open a Canadian bank account before you even arrive. That way, you can send money to Canada and have your banking in order when you arrive to your new home. Apply now If you’re moving to Canada from another country, you can open a Canadian bank account before arriving in Canada by completing and mailing five forms. You can make one international wire transfer into your new BMO bank account while still in your home country. Complete forms to open a BMO bank account by mail. Use our branch locator to find Canadian locations that speak your native language.

How can I send money to – or get money from – my family back home?

Once you’ve opened a bank account with BMO, you can transfer money overseas quickly and easily in two ways: Our wire payment service is a quick, convenient and secure way to send and receive money. Available at BMO branches. Use Western Union®** Money Transfers through BMO Online Banking, which lets you safely and quickly send money to more than 200 countries and territories connected to the Western Union Network. Learn more about sending and receiving money

How can I build my credit history as a newcomer to Canada?

There are a few steps you can take to build your credit history in Canada: Get a credit card and use it regularly for things like groceries and entertainment Pay your bills on time, including your credit card bill Pay your bills in full if you can afford to Check your credit score every few months Learn more

Banking for permanent residents and foreign workers in Canada

Where are you in your journey?

I’m moving to Canada

There are a few things you can do to prepare for your move to Canada, so we’ve put together a checklist for you:

If you’re coming from a in the next 12 months and have your work permit or visa, you can open an account online in minutes^*62 and send up to $75,000 CAD before you move.
Open account
If you’re coming from elsewhere, you can complete forms to open a B M O bank account by mail before you arrive, or visit a B M O branch after you arrive to set up your account.
Book an appointment before you arrive so once you land in Canada you can visit your nearest B M O branch to set up your bank account, apply for a credit card and get helpful financial advice.
Book an appointment
Prepare for Canadian weather – it can be a shock! Canada has four seasons, and it can get very cold in the winter and hot in the summer.

I just arrived in Canada

Welcome to your new home! We offer products and services designed to help newcomers like you get your banking set up in Canada. From bank accounts and credit cards to mortgages and everything in between.

Enjoy no monthly fees for one year

To celebrate your arrival, we’re offering you one year of no monthly fee banking^{footnote *69} which includes:

Performance Plan chequing account
unlimited transactions^{footnote *52}
unlimited Interac e-Transfer^®§ transactions^{footnote *39}
$60 cash bonus with rental of a safety deposit box^{footnote *63}
No cost savings account
family members in your household get no fee daily banking with B M O Family Bundle^{footnote *90}

You can save $215.40,^{footnote *69} plus you can earn a cash bonus up to $700.footnote ^* And after a year, if you keep a minimum balance of $4,000 in your chequing account, we’ll waive the monthly fee ($17.95/month).^{footnote *4}

Learn more

Get a no annual fee credit card with no credit history

Apply for your first Canadian credit card as soon as you arrive and start building a credit history. A good credit history can help when you want to borrow larger sums of money. Plus, enjoy the rewards and convenience that come with a credit card.

Book an appointment

Apply for a mortgage to buy your first home

Get a great rate and a 130-day mortgage rate guarantee – the longest of any major Canadian bank.^‡

Talk to an expert

Invest for today and tomorrow

Our investment professionals can help you at every stage of life with solutions tailored to your needs and goals. Visit a branch to learn your special rate.

Book an Appointment

Send money overseas with no fee ^*96

Send money overseas quickly and securely with B M O Global Money Transfer. Enjoy unlimited transfers with no fee as part of the B M O NewStart^® Program. Transfers usually take just two to five business days to arrive,^*97 and you’ll be notified as soon as the money is received.

Learn more

I’m settled in Canada

We hope you’re feeling more at ease now and getting to know your neighbourhood! If you’ve been in Canada less than five years, we have banking products and services to help further establish yourself here and to plan for your future.

Enjoy no monthly fee banking for one year

As you continue to build your new life, we’re offering one year of no monthly fee banking which includes:

Performance Plan chequing account
unlimited transactions^{footnote *52}
unlimited Interac e-Transfer^®§ transactions^{footnote *39}
$60 cash bonus with rental of a safety deposit box.^{footnote *63}
No cost savings account
family members in your household get no fee daily banking with B M O Family Bundle^{footnote *90}

Learn more

Get a credit card with no annual fee

Build your credit history while enjoying the benefits of a credit card – all without having to pay an annual fee! Your card comes with rewards and is a great way to build your credit history.

learn more

Reach your goals with flexible online investing solutions

Whether you’d like to invest online yourself, or online with advice, there are options to help you reach your investing goals. With BMO NewStart^®, get cash back starting at $300 when you open and fund an online investing account.

Learn more

Apply for a mortgage to buy your first home

Get a great rate and a 130-day mortgage rate guarantee – the longest of any major Canadian bank.^*

Talk to an expert

Become a business owner in Canada

Starting a business is exciting but can come with lots of surprises and hidden costs. We’ve got the tools to help you prepare and launch your business – from bank accounts to loans and beyond.

learn more

Bank online, easily and securely

Manage your banking wherever and whenever you want. Check your accounts, pay bills and send money online, all with our mobile banking app!

Your security is our priority – we’ll pay back 100% of any losses from unauthorized transactions as outlined in our Electronic Banking Services Agreement.

We’re here for you every step of the way

A newcomer to Canada sits in a field holding her child and smiling.

All newcomers

Banking in a new country can take time to get used to, and we can help! Learn the basics of banking in Canada and discover all our special offers and programs for newcomers.

Learn more

Foreign student enjoying her new life in Canada

International student

As you start your studies in Canada, we want to welcome you to this exciting time of your life. We have what you need to help you get started, settled and prepare for your future.

Learn more

Learn more about Canadian banking with BMO SmartProgress™

Explore personal finance topics like homebuying, credit scores, preventing identity theft, and developing a savings plan with our online financial wellness tool, BMO SmartProgress™.

Find out how

Permanent resident and foreign worker frequently asked questions

To open a bank account in Canada with B M O NewStart^® Performance Plan Chequing account offer as a permanent resident or foreign worker, you’ll need these documents:
- 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 – such as your passport or a Canadian driver’s license. More information about valid photo identification
If you already have your Social Insurance Number and a Canadian address, you can
If you’re planning to move to Canada from a we can give you a head start by helping you open a Canadian bank account within minutes^*62 before you even arrive. That way, you can send money to Canada and have your banking in order when you arrive to your new home.Apply now
If you’re moving to Canada from another country, you can open a Canadian bank account before arriving in Canada by completing and mailing five forms. You can make one international wire transfer into your new BMO bank account while still in your home country. Complete forms to open a BMO bank account by mail.
Use our branch locator to find Canadian locations that speak your native language.
To apply for a credit card as a permanent resident or foreign worker, visit your local BMO branch and bring these documents:
- 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 – such as your passport or a Canadian driver’s license. More information about valid photo identification
Once you’ve opened a bank account with B M O, you can transfer money overseas quickly and easily in three ways:
- Send money to up to 50 countries with BMO Global Money Transfer. Transfers take just two to five business days.⁹⁷
- Our wire payment service is a quick, convenient and secure way to send and receive money. Available at BMO branches.
- Use Western Unionfootnote registered star^®* money transfer service through BMO Online Banking which lets you send money safely and quickly to more than 200 countries and territories connected to the Western Union network.
Learn more about sending and receiving money
There are a few steps you can take to build your credit history in Canada:
- Get a credit card and use it regularly for things like groceries and entertainment
- Pay your bills on time, including your credit card bill
- Pay your bills in full if you can afford to
- Check your credit score every few months
Learn more

Ready to get started?

Come in and talk to us

Drop by your nearest branch to set up your new account.

Find a branch

Give us a call

1-844-837-9228

1-888-883-1828

1-888-828-7288

- ^®*The Western Union is a registered trademark of Western Union Holdings, Inc. and are used with permission.
- ^®§ Interac e-Transfer is a registered trademark of Interac Inc. Used under license.

Banking for permanent residents and foreign workers in Canada