As part of our FlyerFunds Rebates program, we are now offering FlyerFunds cash back rebates on three BMO bank accounts: the BMO Plus Plan Chequing Account, BMO Performance Chequing Account, and the BMO Premium Chequing Account.
FlyerFunds Rebates & BMO Bank Accounts
We have now partnered with BMO to offer FlyerFunds cash back rebates on these accounts, making the offers even more lucrative.
See the table below for all current BMO bank account offers.
| Bank Account | Welcome Bonus | FlyerFunds Rebate |
|---|---|---|
| BMO Plus Plan Chequing Account | Customers who open a new BMO Plus Plan Chequing account can earn up to $100. Earn $100: Open a Plus Plan chequing account, make a deposit, and complete 2 of the 3 requirements listed below, for two consecutive months: – Set up a recurring direct deposit – Make two bill payments of at least $50 to different billers – Set up two pre-authorized debits of at least $50 from different billers | $50 |
| BMO Performance Chequing Account | Customers who open a new BMO Performance Chequing account can earn up to $700. Earn $450: Open a Performance chequing account, make a deposit, and complete 2 of the 3 requirements listed below, for two consecutive months: – Set up a recurring direct deposit – Make two bill payments of at least $50 to different billers – Set up two pre-authorized debits of at least $50 to different billers Earn $50: Invite a family member as part of a BMO Family Bundle and earn when they open their account Earn $200: Open a Savings Amplified Account by March 3, 2025 and deposit a total of $10,000 within 30 days of opening the account; and maintain a daily closing balance of $10,000 or more at all times for an additional 90 calendar days past that initial month. | $50 |
| BMO Premium Chequing Account | Customers who open a new BMO Premium Chequing account can earn up to $700. Earn $450: Open a Premium chequing account, make a deposit, and complete 2 of the 3 requirements listed below, for two consecutive months: – Set up a recurring direct deposit – Make two bill payments of at least $50 to different billers – Set up two pre-authorized debits of at least $50 to different billers Earn $50: Invite a family member as part of a BMO Family Bundle and earn when they open their account Earn $200: Open a Savings Amplified Account by March 3, 2025 and deposit a total of $10,000 within 30 days of opening the account; and maintain a daily closing balance of $10,000 or more at all times for an additional 90 calendar days past that initial month. | $50 |
BMO Chequing Accounts with Cash Back Rebates
BMO Plus Plan Chequing Account
The BMO Plus Plan Chequing account includes 25 debit transactions per month as well as unlimited Interac e-Transfers.
Up to $100 welcome bonus + $50 FlyerFunds on approval
Chequing
Monthly fee waived with a minimum daily closing balance of $3,000 $11.95
The BMO Plus Plan chequing account currently has a welcome offer where new account holders can earn up to $100 cash.
This BMO Plus Plan Chequing account is a flexible and budget-friendly chequing account with an $11.95 monthly fee. This fee is waived if you maintain a minimum balance of $3,000 throughout the entire month.
There are 25 included debit transactions per month as well as unlimited Interac eTransfers.
Click here to apply for this offer on the BMO Plus Plan Chequing Account with a $50 FlyerFunds Rebate!
BMO Performance Chequing Account
The BMO Performance Chequing account offers unlimited debit and Interac e-Transfer transactions. Account holders are entitled to one free monthly ATM withdrawal in Canada and a $40 BMO credit card annual fee rebate.
Up to $700 welcome bonus + $50 FlyerFunds on approval
Chequing
Monthly fee waived with a minimum daily closing balance of $4,000 $17.95
The BMO Performance Chequing account currently has a welcome offer where new account holders can earn up to $700 cash.
The BMO Performance Chequing account comes with a $17.95 monthly fee which is waived if you maintain a minimum balance of $4,000 throughout the entire month.
This account includes unlimited debit transactions per month as well as unlimited Interac eTransfers. You’ll also get 1 free ATM withdrawal included per month, in Canada.
A few additional perks are included as well. You’ll get up to a $40 rebate on the annual fee for an eligible BMO credit card. You will also get a boosted savings interest rate if you hold the Savings Amplifier Account with BMO.
Click here to apply for this offer on the BMO Performance Chequing Account with a $50 FlyerFunds Rebate!
BMO Premium Chequing Account
The BMO Premium Chequing account offers unlimited debit, Interac e-Transfer, and worldwide ATM withdrawal transactions. Account holders are entitled to a $150 annual fee rebate on a BMO credit card, a safety deposit box discount, and more.
Up to $700 welcome bonus + $50 FlyerFunds on approval
Chequing
Monthly fee waived with a minimum daily closing balance of $6,000 $30.95
The BMO Premium Chequing account currently has a welcome offer where new account holders can earn up to $700 cash.
The BMO Premium Chequing account offers the most benefits out of the three accounts. While it has a heftier $30.95 monthly fee, it can be waived if you maintain a minimum balance of $6,000 through the entire month.
As with the Performance account, this account includes unlimited debit transactions per month as well as unlimited Interac eTransfers. You’ll also get unlimited worldwide free ATM withdrawals with no fee charged by BMO.
The Premium Chequing account comes with several other valuable perks, including:
- Up to a $150 rebate on the annual fee for an eligible BMO credit card which makes this account a great way to save on credit card annual fees.
- A boosted savings interest rate if you hold the Savings Amplifier Account with BMO.
- Unlimited no fee global money transfers
- No fees for overdraft protection
- Cheques, money orders, and bank drafts at no cost
- Safety deposit box annual $12 discount
Click here to apply for this offer on the BMO Premium Chequing Account with a $50 FlyerFunds Rebate!
Apply Now Through Frugal Flyer Rebates
If you are interested in signing up for a BMO bank account and want to receive some extra cash back in your wallet, head over to the FlyerFunds Rebates hub and follow the steps to apply.
If you want to learn more about the various chequing and savings accounts that are available for Canadians, check out our bank account comparison tool.
Reed Sutton
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>>On the other hand, you could maintain a balance of $4,000 in the account for a year. In that case, you’d make the full $450 and pay no monthly fees. However in such a case, it’s also useful to think in terms of interest return: $450 on $4,000 is an 11.25% return, which is very good considering it is risk-free. You’re not going to get an 11.25% easily in equity investments, and not without significant risk.<<
Shouldn't you use the amount you'd spend on fees to calculate this? That's what you're saving by keeping your money there.
$203 on $4,000 is just over 5%. Still good, but in the current rates environment, also attainable risk-free in other ways.
Hi Sam,
I agree with your point, but it gets a bit into the weeds of opportunity cost. Ie. it’s dependent on where the $4,000 is coming from and what it would be doing otherwise for you personally.
Our analysis is meant to simplify to two scenarios:
1. You have $4,000 lying around (eg. in an emergency fund at a big 5 bank savings account). Even the best savings accounts base rates are only 2-3%. Move that to this BMO account for a year and make ~11.25% on the balance due to the welcome bonus.
2. You don’t have $4,000 lying around doing nothing – you sign up for the account and pay the fees and make net $246.
I tried to sign up through frugal flyer but got referred to the branch to set up, which I did. How do I ensure I get the extra $50 from frugal flyer?
We will look into that but I am not sure it’s possible. Unless the agent somehow continued the online application that was started.
Till which date, can I open BMO Performance Checking account in order to get $50 Frugal Flyer rebate?
This blog mentions as 31st Oct 2022 but it is showing on ‘Apply for Rebates’ page.
Hi Anish,
The offer is still available – whatever dollar amount our rebate page shows for this account is the current Frugal Flyer cash back offer available. We have also updated this article; BMO has extended the $350 welcome bonus until January 31, 2023.