The BMO Performance Chequing Account for Students is a version of BMO’s Performance Plan Chequing Account with special rates for students. This BMO chequing account is tailored for students and offers no monthly fees, unlimited transactions, and other perks.
To opt into its reduced fees, students have to provide proof of registration and/or proof of program completion. BMO is strict with these requirements, leaving the onus on students to get their fees waived. Read our review of the BMO Performance Chequing Account for Students and see if it fits your needs as a student enrolled in post-secondary education.
BMO Performance Chequing Account for Students features
What is the BMO Performance Chequing Account for Students all about? We break down its core features below.
Why You Want It
Earn a $175 welcome cash bonus + no monthly plan fees while in school and one year after graduating.
Special Features
- Annual credit card rebate of $40 on eligible BMO credit card
- Stays no fee for up to 12 months after graduation
- New account holders earn a cash bonus
Eligibility
- Students enrolled full-time in university, college, or private vocational school
- Proof of registration of student status or expected graduation required
Provinces
AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, QC, SK, YT
Features
Minimum Balance To Waive Fee
N/A
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$0.00
Excess Transaction Fee
N/A
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
$40
Maximum Welcome Bonus
$175
Promo End Date
March 02, 2026
Physical Locations
Automatic Budgeting System
Minimum Interest Rate
N/A
Earn Rewards On Debit Purchases
Free Cheques
Free Bank Drafts
Max Rebates For Other Accounts
N/A
Discounts For Seniors
Discounts For Youth
Other Discounts
Terms
** To qualify for the Student Back to School Campaign you must be a student residing in Canada and open an account during the Offer Period, or an international student who opens a Canadian Dollar Primary Chequing Account with the Practical Plan under the Pre-arrival International Student Program ("Pre-arrival Account") and activate your Pre-Arrival Account as a student Chequing Account during the Offer Period. Full offer details and terms and conditions are available here.
BMO Performance Chequing Account for Students product rating: 3.6 stars
The BMO Performance Chequing Account for Students checks off the main boxes for a student chequing account – no monthly fees and unlimited transactions and e-Transfers. While these base features are important, it doesn’t offer much beyond that to stand out from other student accounts.
With that said, the BMO student chequing account is practical if you plan to conduct a lot of transactions. And it’s likely students will be making plenty of purchases while in school, so this cheap chequing account serves its purpose.
Rating methodology
To assess chequing accounts, we examine more than 30 data points to provide a reliable Genius Rating. We take into account all aspects of the account, such as fees, benefits, interest rates, customer satisfaction, accessibility, and promotions, to determine its overall value. The features of the account are then rated in comparison to other available options.
Learn more about our rating methodology.
The pros of the BMO Performance Chequing Account for Students
What features stand out in the BMO Performance Chequing Account for Students?
Pros
Get a $175 welcome cash bonus
If you open your account by March 2, 2026, you'll get a $175 welcome cash bonus.
No monthly fee in this BMO student chequing account
One of the biggest differences between the regular BMO Performance Chequing Account and its student variation, is the $0 monthly fee. Students get their monthly fee waived for up to 4 years, and an additional year after they graduate – provided they show proof of enrollment (see more below). Students are already overwhelmed with costs and their bank account shouldn’t be another one.
Unlimited transactions on all everyday purchases
The BMO Performance Chequing Account for Students also offers unlimited transactions on all everyday transactions, including at the bank’s branch, ATM, telephone and online banking, as well as debit transactions, cheques, and pre-authorized debits. Between school and living expenses, it’s a relief knowing that you can use your bank account as often as you want to pay for what you need.
Unlimited e-transfers up to a certain amount
Just like unlimited transactions, the BMO Performance Chequing Account for Students offers unlimited Interac e-Transfers, up to $3,000 a day. For students who use e-Transfers to pay their rent, buy and sell items online, or pay friends back, having no added cost for transfers is a major advantage.
Credit card rebate with your chequing account
For those with a BMO student chequing account and an eligible BMO credit card, student cardholders get a $40 rebate. Some eligible cards include the BMO CashBack® World Elite®* Mastercard®*, BMO Ascend™ World Elite™* Mastercard®*, and BMO AIR MILES®† World Elite®* Mastercard®*. If you’re in the market for a credit card, you also have the option of one of the best student cards in Canada already – the BMO CashBack® Mastercard®* For Students – which is already no annual fee.
The cons of the BMO Performance Chequing Account for Students
Are there any less-enticing features with the BMO Performance Chequing Account for Students?
Cons
BMO requires proof of enrollment for its student chequing account
To open a BMO Performance Chequing Account for Students, BMO requires proof of registration in a full-time program. They go on to specify that they might also require a proof of expected completion, or you may need to keep up with providing annual proof of eligibility. To continue waiving account fees past your grad date, you’ll have to provide proof before November 30 of the year you’re graduating. These requirements are pretty standard but could get a little onerous on top of all of your other to-dos. If you don’t provide proof by the date, BMO charges you the full monthly fee, and you won’t be refunded for any previous fees if you missed the deadline.
Extra charges on non-BMO withdrawals per month
With this BMO student chequing account, you get one Canadian withdrawal with no added fee per month but after that, you’re charged per transaction for any withdrawals from a non-BMO ATM. The fees are $2 in Canada and $5 everywhere else. These BMO chequing account fees are on top of the convenience charges from the ATM, and can add up quickly if you’re taking money out on campus and ATM options are limited.
BMO Performance Chequing Account for Students alternatives
How does the BMO Performance Chequing Account for Students compare to other chequing accounts? Take a look below.
 |  | |
|---|---|---|
| Account | Simplii No Fee Chequing Account | Tangerine Chequing Account |
| Genius Rating | ||
| Why You Want It |  $50 GeniusCash + Earn $300 and a $50 Skip gift card + Unlimited free transactions for no monthly fee. | Get unlimited free transactions for no monthly fee + Earn up to 0.1% interest. |
| Minimum Balance To Waive Fee | $0 | $0 |
| # Of Free Monthly Transactions | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited |
| Monthly Fee | $0.00 | $0.00 |
| Excess Transaction Fee | N/A | $0.00 |
Show More | ||
| I Want This Deal See more Simplii Financial products Compare | Open an account See more Tangerine products Compare |
Comparison to other BMO products
Want to see how BMO’s chequing accounts compare?
 | | | |
|---|---|---|---|
| Account | BMO Premium Chequing Account | BMO Performance Chequing Account | BMO Plus Chequing Account |
| Genius Rating | |||
| Why You Want It | $50 GeniusCash + $700 in cash + a Walmart Delivery Pass Subscription for up to 12 months*. *T&Cs apply. | $50 GeniusCash + Up to $700 in cash + a Walmart Delivery Pass Subscription for up to 12 months*. *T&Cs apply. | Get a $100 welcome bonus + 25 transactions per month. |
| Minimum Balance To Waive Fee | $6,000 | $4,000 | $3,000 |
| # Of Free Monthly Transactions | Unlimited | Unlimited | 25 |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $30.95 | $17.95 | $11.95 |
| Excess Transaction Fee | N/A | N/A | $1.25 |
Show More | |||
| I Want This Deal See more BMO products Compare | I Want This Deal See more BMO products Compare | Open an account See more BMO products Compare |
FAQ
What is the BMO Performance Chequing Account for Students?
The BMO Performance Chequing Account for Students is an account made for students enrolled in full-time studies at a university or college. The BMO chequing account offers low fees for up to 4 years, and one year after graduation.
What is the BMO chequing account minimum balance?
There is no minimum balance required for this BMO student chequing account.
How do I open a BMO chequing account?
You can open your BMO student chequing account by visiting a branch or applying online. To open an account you will need a SIN, a Canadian address, and proof of registration in a university, college, or vocational school. If you’re applying online on the BMO website, you have 6 months to bring your proof of registration to a local branch.
What are the BMO chequing account fees?
Right now, the BMO Performance Chequing Account for Students has a $0 monthly fee. There are no fees for everyday transactions and e-Transfers are unlimited up to a $3,000 daily limit. There are fees for using a non-BMO ATM after the first withdrawal, and these fees range from $2 - $5 depending if you’re in Canada or outside the country.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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