Chequing account · BMO Bank of Montreal
Primary Chequing Account with Plus Plan: fees and true cost
BMO Bank of Montreal’s Primary Chequing Account with Plus Plan charges $12.95/mo, or $0 with a $3,000 minimum balance, with 25 a month transactions. For our “Everyday” example that comes to $418 a year, #26 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 | $155 | Monthly fee $12.95 | 14 of 33 |
| Everyday Household account, a few e-Transfers | $418 | Monthly fee $12.95; extra transactions $19.88/mo | 26 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $890 | Monthly fee $12.95; extra transactions $57.25/mo | 26 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $188 | Monthly fee $12.95 | 8 of 26 |
Try your own numbers in the true-cost finder. Is keeping $3,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $12.95/mo, or $0 with a $3,000 minimum balance |
| Included transactions | 25 a month |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | $1.25 |
| Own-bank ATM withdrawal | $1.25 |
| 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 | $1.25 |
| In-branch withdrawal | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | $1.25 |
| 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
Debit transactions (i.e., transit fares and passes) completed at Canadian transit agencies do not count towards your monthly transaction count.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Seniors 60 years of age and older (regular $12.95) | $8.95 | BMO Bank of Montreal |
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 Performance Plan — $17.95/mo, or $0 with a $4,000 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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