Offers
Welcome Bonus
Customers who open a new BMO Newcomer Performance Chequing account can earn up to $800* in cash:
- Earn $500: Open and fund a new BMO Newcomer Performance Chequing account by June 1, 2026. Complete two qualifying criteria by July 31, 2026:
- Set up a recurring direct deposit of at least $500
- Make two eligible online bill payments of at least $50 to different billers
- Set up two eligible pre-authorized debits of at least $50 to different billers
- Earn $100: Set up a recurring direct deposit of $500 or more by July 31, 2026 and maintain it for one year.
- Earn a Walmart Delivery Pass subscription for up to 12 months: Open a Savings Amplifier Account by June 1, 2026, and deposit any amount by June 30, 2026.
- Sign up for or update your existing Walmart Delivery Pass by July 31, 2026, here and select Debit Mastercard as the payment option for the monthly transaction fee and enter your sixteen-digit BMO Debit Card number along with any other valid payment details as required.
- Earn $150: Open a Savings Amplifier Account by June 1, 2026, and deposit a total of $10,000 or more within 30 days of opening the account; and maintain a daily closing balance of $10,000 or more at all times for 3 months.
- Earn $50: When you access My Financial Progress and complete the following:
- Create one goal in My Financial Progress Plan by July 31, 2026
- Go to the Planning Tab and apply one strategy to the plan by July 31, 2026
Plus, eligible new account holders will receive no monthly plan fees for the first two years*.
FlyerFunds Rebate
Plus, if you apply for the BMO Newcomer Performance Chequing Account through Frugal Flyer and are approved, you can receive an additional $80 paid directly to you.
Account Features
The BMO Newcomer Performance Chequing account offers unlimited debit and unlimited Interac e-Transfer®§ transactions*. New eligible account holders can also receive a $60 cash bonus* when renting a safety deposit box of any size.
Account holders are eligible to receive unlimited withdrawals at BMO ATMs and one withdrawal per month at a non-BMO ATM, at no additional cost. Past that, non-BMO ATM withdrawals are charged at a rate of $2 each in Canada, $5 each outside of Canada.
Newcomer Performance account holders also receive no-fee BMO Global Money Transfers when sending funds quickly and securely to up to 50 countries (regions) in multiple currencies.
BMO Newcomer Performance Chequing account holders who also hold an eligible BMO personal credit card can receive up to a $40 annual fee rebate^ each calendar year. This annual fee rebate will occur once, even if you hold multiple BMO credit cards. Minimum annual spend requirement applies. Additional terms and conditions apply.
BMO credit cards that are eligible for this rebate include:
- BMO eclipse Visa Infinite card
- BMO CashBack® World Elite®* Mastercard®
- BMO Ascend World Elite®* Mastercard®*
- BMO VIPorter Mastercard®∗
- BMO VIPorter World Elite®* Mastercard®*
Fees
Monthly Fees
The BMO Newcomer Performance Chequing account has a monthly fee of $17.95, which is waived* if you hold a minimum balance of $4,000 in your BMO bank account at all times.
Awards
As part of Frugal Flyer’s 2026 Best Bank Account Awards, we selected the BMO Newcomer Performance Chequing Account as the Best Bank Account for Newcomers.
Legal
* Terms & Conditions apply; for more details, click here.
^ Terms and conditions apply. For more details on the credit card rebate, click here.
®§ Interac e-Transfer is a registered trademark of Interac Corp. Used under license.
For more information, click here for BMO’s Agreements, Bank Plans and Fees for Everyday Banking.