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What is a chequing account?
A chequing account is a type of bank account where you can deposit money and maintain day-to-day expenses like groceries, meals, gas and other necessities. Most chequing accounts are tied to debit cards and cheques to help you make both small and large purchases. Chequing accounts can also help you pay bills online and send money via INTERAC e-Transfer®§.
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Everyday banking solutions designed for seniors, including a no monthly fee*83 chequing plan.
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Open a chequing account online in minutes
Choose an account
Find the right account for you.
Complete the online application
Our online application is fast, easy, and accessible.
Sign up for BMO Online Banking
Register for BMO Online Banking and start using the BMO mobile banking app.
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Chequing Account FAQs
Yes, you can open multiple chequing accounts at BMO. Manage all your accounts online with digital banking and pay no extra monthly plan fees on multiple accounts1,3. Learn more about adding another chequing account.
Absolutely! INTERAC e-Transfer®§ transactions are included*89 on all everyday bank plans. This offer extends to all Canadian dollar chequing and Premium Rate Savings accounts that are part of those plans. Keep in mind that if you have the Practical or Plus Plan, each INTERAC e-Transfer®§ transaction you send counts towards your Plan’s monthly transaction limit.
Some chequing accounts will waive your monthly account fees if you keep a minimum daily closing balance in your account. For example, BMO’s Performance Plan Chequing Account has a monthly plan fee of $17.95, but if you keep at least $4,000 in your account, you won’t be charged the monthly plan fee.
Your account balance is calculated daily, so you need to maintain the minimum balance every day of the month to have your fee waived.
When you move money out of your account – like an ATM withdrawal, bill payment or pre-authorized payment – that counts as a transaction. Money coming into your account – like payroll direct deposits or cash deposits at an ATM – don’t count as transactions.Along with your monthly account fee, there may be other fees depending on how you use your account, such as excess transaction fees, non-BMO ATM withdrawals and optional standard overdraft protection. Learn more about bank fees at BMO.
Open a chequing account at BMO in three simple steps.
Choose the account you’d like to open. We offer several chequing accounts, including the Performance Chequing Account, Premium Chequing Account, and Plus Chequing Account.
Complete the online application. You’ll need to provide basic information like your name, address, employment information, and Social Insurance Number (SIN).
Sign up for BMO Online Banking. Register for BMO Online Banking and start using the BMO mobile banking app.
Signing up for online banking is easy. All you need is a BMO Debit Card and your bank account number or your BMO credit card to get started.
Our Get Started Online Demo can be found here. To get quick answers to your banking questions, check out our online support tools.
Before using your debit card online, you need to activate it by performing a chip and PIN transaction at an ATM or making an in-store purchase.
If you’re trying to make an online purchase on a Canadian website, make sure your card is a Debit Mastercard®* and that the site accepts Debit Mastercard.®* Your card cannot be used for INTERAC®§ Online purchases. If you’re trying to buy from an international website, also make sure your card is a Debit Mastercard®* and that the site accepts Mastercard.®*
If you’re still having problems shopping online, please call us at 1 8 0 0 3 6 3 9 9 9 2 and we’ll be happy to help!
We take customer privacy very seriously and we fiercely protect customer data. We will reimburse you for any eligible unauthorized transactions provided you have kept your account details secure, and you’ve met all other key responsibilities outlined in our Electronic Banking Services Agreement. Visit our Security Centre to learn how we keep your information safe. You can also follow these steps to keep your account safe:
Change your passwords regularly.
Don’t store your password with your debit card number.
Advise us within 24 hours of learning that your debit card was lost or stolen; or that the confidentiality of your password was compromised.
Monitor your accounts for unauthorized transactions and call us/DM us to report any concerns.
Resources
Understanding Chequing Accounts in 2025
We examine the ubiquitous chequing account – its versatility, benefits, types and more – and why it’s so popular.
How to find the best chequing account for your lifestyle
Why settle for a generic chequing account when you can find one that fits your lifestyle?
What’s the difference between a chequing and savings account?
Compare chequing vs. savings accounts and learn how you can use them both to your advantage.
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