Chequing account · BMO Bank of Montreal
Primary Chequing Account with Performance Plan: fees and true cost
BMO Bank of Montreal’s Primary Chequing Account with Performance Plan charges $17.95/mo, or $0 with a $4,000 minimum balance, with unlimited transactions. For our “Everyday” example that comes to $215 a year, #11 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $215 | Monthly fee $17.95 | 24 of 33 |
| Everyday Household account, a few e-Transfers | $215 | Monthly fee $17.95 | 11 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $239 | Monthly fee $17.95 | 12 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $248 | Monthly fee $17.95 | 19 of 26 |
Try your own numbers in the true-cost finder. Is keeping $4,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $17.95/mo, or $0 with a $4,000 minimum balance |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $5.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $2.75 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
Notes from the institution
Up to $40 rebate on the annual fee for eligible BMO credit cards. OnGuard Identity Theft Protection at no charge. Kids, Teens, Students, Indigenous Peoples and Newcomers to Canada will have the additional benefit of one (1) monthly paper statement included at no additional charge. Indigenous Peoples: As part of the BMO Indigenous Personal Banking Program, you are eligible to receive the full monthly plan fee rebated for a twelve (12) month period. After this period, you are eligible to receive a $4 monthly bank plan fee discount. Newcomers to Canada: As part of the BMO NewStart® Program, you a
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Seniors 60 years of age and older (regular $17.95) | $13.95 | BMO Bank of Montreal |
| Students, proof of registration (also recent graduates by Nov 30 of grad year) | No monthly fee | BMO Bank of Montreal |
| Teens 13 to 18 years of age | No monthly fee | BMO Bank of Montreal |
| Newcomers to Canada, $0 for two years | No monthly fee | BMO Bank of Montreal |
BMO Bank of Montreal rebates the access fee on 1 other-bank ATM withdrawal a month; the yearly cost includes that rebate.
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- Neo Chequing account (Essentials) (Neo Financial) — $0 a year
Other chequing accounts at BMO Bank of Montreal
- Primary Chequing Account with Blue Rewards Plan — $17.95/mo, no balance waiver
- Primary Chequing Account with Plus Plan — $12.95/mo, or $0 with a $3,000 minimum balance
- Primary Chequing Account with Practical Plan — $4.00/mo, no balance waiver
- Primary Chequing Account with Premium Plan — $30.95/mo, or $0 with a $6,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · BMO Bank of Montreal’s product page
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