BMO Account Fees

BMO, or Bank of Montreal, has a variety of account options, each with different fees and features. These fees may include monthly account maintenance fees, fees for using certain services (such as using an ATM or making a wire transfer), and fees for going over your account’s transaction limit or minimum balance. It is best to check with BMO directly or consult their website for information on specific account fees and how to avoid or reduce them.

In addition to the typical account maintenance fees, BMO also offers a variety of account packages that bundle different services together for a set monthly fee. For example, the BMO SmartFee package includes unlimited transactions and a waived monthly fee for a set monthly cost.

BMO also offers student accounts with no monthly fee and no minimum balance, as well as senior accounts with reduced fees and increased ATM withdrawal limits.

It’s also important to note that BMO has a number of fee waivers available to customers. For example, if a customer maintains a certain minimum balance in their account, they may be able to avoid or reduce monthly maintenance fees. Some accounts also waive the fee for using non-BMO ATMs.

It’s always a good idea to review your account fees regularly and ask your financial institution about any waivers or discounts that may apply to you. Additionally, comparing different bank account options and considering online banks as they may have lower fees and more favorable terms.

About BMO 

Bank of Montreal (BMO) is one of the largest banks in Canada and the oldest bank in the country, dating back to 1817. It is a publicly-traded company and is listed on the Toronto Stock Exchange. BMO offers a wide range of financial services and products, including personal and business banking, investment and wealth management, and commercial banking.

BMO serves over 12 million customers and has more than 900 branches across Canada, as well as a significant presence in the United States through its subsidiary BMO Harris Bank. The bank also offers online and mobile banking services, allowing customers to access their accounts and manage their finances from anywhere.

In addition to traditional banking services, BMO also offers a variety of insurance products, including home, auto, and travel insurance, as well as investment and retirement planning services.

BMO is known for its commitment to sustainability and corporate social responsibility. The bank has a number of initiatives in place to support the communities in which it operates, including programs focused on financial literacy, diversity and inclusion, and environmental sustainability.

BMO Chequing Account Fees 

BMO offers several different types of chequing accounts, each with its own set of fees and features. Some of the most common fees associated with BMO chequing accounts include:

• Monthly account maintenance fee: Many BMO chequing accounts have a monthly fee that must be paid to maintain the account. However, this fee can often be waived by maintaining a certain minimum balance or by signing up for a bundled account package.

• Transactions fees: Some BMO chequing accounts have a limit on the number of transactions that can be made per month, with additional fees for going over that limit.

• ATM fees: Using an ATM that is not part of the BMO network may result in additional fees.

• Interac e-Transfer Fees: Some chequing accounts may charge a fee for using the Interac e-Transfer service to transfer money to other bank accounts.

• Overdraft fees: If a customer goes over the available balance on their account, they may be charged an overdraft fee.

It is important to note that fees vary depending on the account type and package, so it’s best to check with BMO directly or consult their website for information on specific account fees and how to avoid or reduce them.

BMO Savings Account Fees

BMO offers several types of savings accounts, each with its own set of fees and features. Some of the most common fees associated with BMO savings accounts include:

• Monthly account maintenance fee: Some BMO savings accounts have a monthly fee that must be paid to maintain the account. However, this fee can often be waived by maintaining a certain minimum balance.

• Transactions fees: Some BMO savings accounts have a limit on the number of transactions that can be made per month, with additional fees for going over that limit.

• Withdrawal fees: Withdrawing money from a BMO savings account may result in additional fees.

• Overdraft fees: If a customer goes over the available balance on their account, they may be charged an overdraft fee.

It is important to note that fees vary depending on the account type and package, so it’s best to check with BMO directly or consult their website for information on specific account fees and how to avoid or reduce them.

Additionally, BMO offers some savings accounts that have no monthly fees and no transaction fees, such as the BMO Premium Rate Savings Account and BMO Tax-Free Savings Account. These accounts usually have a higher interest rate than regular savings accounts, but also may have minimum balance requirements or other terms and conditions.

BMO Cheque book Fees

BMO may charge a fee for ordering a new cheque book for certain types of accounts. This fee can vary depending on the type of account and package. For example, certain accounts may have a one-time fee for the initial cheque book, while others may charge a fee for each additional cheque book ordered.