Bank of Montreal (BMO) has recently launched a new round of offers on its two best chequing accounts: the BMO Performance Chequing Account and the BMO Premium Chequing Account.
For customers who are interested in moving their banking needs to a new financial institution, this is a great opportunity to put extra cash in your pocket when opening an account. Plus, Frugal Flyer offers cash back rebates on BMO Chequing accounts, allowing new account holders to earn an even bigger account opening bonus.
Let’s dive into the new record-high BMO chequing account offers that launched on June 6th.
BMO Performance Chequing Account
The BMO Performance Chequing Account now has a welcome offer of up to $700 in value!
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.
Earn when you apply through Frugal Flyer.
Chequing
Up to $700
Monthly fee waived with a minimum daily closing balance of $4,000 $17.95
The $700 in value is split between several offer components:
- Earn $500: Open a BMO Performance Chequing account and make a deposit by March 2, 2026. Complete 2 of the 3 requirements listed below by April 30, 2026:
- Set up a recurring direct deposit of at least $500
- 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 a Walmart Delivery Pass subscription for up to 12 months: Open a Savings Amplifier Account by March 2, 2026, and deposit any amount by March 31, 2026.
- Sign up for or update your existing Walmart Delivery Pass by April 30, 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 March 2, 2026, 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.
- Earn $50: When you access My Financial Progress and complete the following:
- Create one goal in My Financial Progress Plan by April 30, 2026
- Go to the Planning Tab and apply one strategy to the plan by April 30, 2026
- Plus, receive a 4.60% promotional interest rate when you add a BMO Savings Amplifier Account.
The BMO Performance Chequing account does have a $17.95 monthly fee, however, it can be waived by maintaining a minimum balance of $4,000 in your account throughout the entire month.
This Performance Chequing account also includes unlimited debit transactions per month as well as unlimited Interac eTransfers. You’ll also get 1 free ATM withdrawal in Canada per month.
Account holders can also get up to a $40 rebate on the annual fee for an eligible BMO credit card. Plus, they will receive a boosted savings interest rate if they hold a BMO Savings Amplifier Account.
If you are interested in this offer, click to receive a cash back rebate on the BMO Performance Chequing Account of $75 from Frugal Flyer!
BMO Premium Chequing Account
The BMO Premium Chequing Account now has a welcome offer of up to $700 in value!
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.
Earn when you apply through Frugal Flyer.
Chequing
Up to $700
Monthly fee waived with a minimum daily closing balance of $6,000 $30.95
The $700 in value is split between several offer components:
- Earn $500: Open a BMO Premium Chequing account and make a deposit by March 2, 2026. Complete 2 of the 3 requirements listed below by April 30, 2026:
- Set up a recurring direct deposit of at least $500
- 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 a Walmart Delivery Pass subscription for up to 12 months: Open a Savings Amplifier Account by March 2, 2026, and deposit any amount by March 31, 2026.
- Sign up for or update your existing Walmart Delivery Pass by April 30, 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 March 2, 2026, 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.
- Earn $50: When you access My Financial Progress and complete the following:
- Create one goal in My Financial Progress Plan by April 30, 2026
- Go to the Planning Tab and apply one strategy to the plan by April 30, 2026
- Plus, receive a 4.60% promotional interest rate when you add a BMO Savings Amplifier Account.
The BMO Premium Chequing account does have a $30.95 monthly fee, however, it can be waived by maintaining a minimum balance of $6,000 in your account throughout the entire month.
The BMO Premium Chequing account offers unlimited debit, e-Transfers, and free ATM withdrawals worldwide. They will also receive a $12 annual discount on a BMO safety deposit box.
Most importantly, Premium Chequing account holders can receive a rebate on eligible BMO credit card annual fees. Account holders who have an eligible BMO personal credit card (including the BMO AIR MILES World Elite Mastercard, BMO CashBack World Elite Mastercard, or BMO eclipse Visa Infinite card) are eligible to receive up to a $150 annual fee rebate each calendar year.
If you are interested in this offer, click to receive a cash back rebate on the BMO Premium Chequing Account of $75 from Frugal Flyer!
Our Thoughts On The New BMO Chequing Account Offers
These are the highest ever offers we have seen on both the BMO Performance Chequing account and the BMO Premium Chequing account. If you were looking for a new bank account and one of the BMO chequing accounts fits your needs, this is an excellent time to open an account.
For most customers, the BMO Performance Chequing account might be the better and more frugal option based on their banking needs, as it has a lower monthly fee with a lower minimum balance required to waive that fee. It also still offers unlimited transactions and should fit the personal finance needs of most Canadians.
On the other hand, while the BMO Premium Chequing account does come with more bells and whistles as a premium bank account, it does have a higher monthly fee and minimum balance required to waive that fee. However, if you plan on fully utilizing the benefits, it can make sense to open this account type.
If you were on the fence about signing up for a BMO Chequing account, these new offers make it even more worth it to open a new bank account and get involved in the BMO banking ecosystem.
Conclusion
Financial institutions are always updating their welcome offers on bank accounts, and it’s worth staying aware of what has changed if you are looking to open a new bank account that better suits your banking needs.
BMO’s chequing accounts are some of the best in Canada, so we recommend heavily considering them if you are looking to switch banks!
Josh Bandura
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I’m confused about the minimum balance of $4,000 in the account to waive fees. Is it meant to be in the chequing account, or does what you have in your savings account count? Seems like a waste of a good interest rate if a large sum of your money is sitting in a checking account gaining no interest…
Correct, in order to have the monthly fee waived you need to maintain the $4,000 minimum balance in the chequing account at all times.
There is definitely an opportunity cost in doing so, so I recommend doing the math to see if it is worth it for your personal situation.