The BMO Plus Chequing Account is one of BMO’s more straightforward banking plans, offering 25 free transactions per month for a monthly fee of $11.95, or $6.95 if you’re 60 or older and eligible for the $4 senior discount. Students also get the account for free, making it accessible to those who want a reliable option without extra frills. Unlimited Interac e-Transfers are included, and if you open the account before July 2, 2025, you can snag a $100 welcome bonus by completing a couple of basic banking tasks like setting up direct deposit or making a bill payment.
For many people, 25 transactions per month is plenty, especially if you mostly use your account for day-to-day purchases, bill payments, or transfers. If you tend to make more frequent transactions, the $1.25 fee for each additional one could add up quickly. That said, with its welcome bonus, seniors’ discount, and simple structure, the BMO Plus Chequing Account works well for anyone who wants a no-nonsense, affordable plan for everyday banking.
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BMO Plus Plan features
Here are the features of this chequing account:
Verified on August 29, 2025
Why You Want It
Get a $100 welcome bonus + 25 transactions per month.
Special Features
- $4 monthly discount for seniors
- INTERAC e-Transfer® transactions included within Bank Plan limits
Provinces
ALL
Features
Minimum Balance To Waive Fee
$3,000
# Of Free Monthly Transactions
25
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$11.95
Excess Transaction Fee
$1.25
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
N/A
Maximum Welcome Bonus
$100
Promo End Date
September 30, 2025
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
BMO Plus Plan rating: 2.9 stars
We’ve given the BMO Plus Chequing Account a rating of 2.9 stars after comparing it to some similar offerings from other banks. It loses a lot of points for having a relatively high monthly fee and its lack of special features.
Still, basic doesn't mean bad. Some people want a simple, no-frills bank account for their simple, no-frills spending habits. Seniors in particular can enjoy this modest account as they get a discounted monthly fee.
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 Plus Plan
So, what does the BMO Plus Chequing Account have in the “pros” column?
Pros
$100 welcome bonus
If you open a BMO Plus Chequing Account chequing account before June 30, 2025, you can earn up to $100 by performing some basic banking tasks. You have to do 2 of the following 3 actions: make two minimum bill payments of $50 through BMO online, set up at least two pre-authorized debits of minimum $50, or set up a recurring direct deposit of minimum $500 (such as your payroll, or pension). Do 2 of those and you’ll get $100, which is some pretty easy money.
25 free transactions per month
This includes BMO ATM, Interac e-Transfers, and debit transactions, and some people may not need more than that. If you use your debit card a lot when you’re shopping, however, those $1.25 per transaction fees could sneak up (and add up) on you quickly.
$4.00 senior’s discount
If you’re 60 or older, you qualify for a $4.00 discount for this chequing account, bringing your monthly fee down to $6.95. Kids’ and students’ monthly fees are waived completely. So, students who are counting their pennies can benefit from this to save on fees.
The cons of the BMO Plus Plan
And now the “cons” column.
Cons
High monthly fee for what you get
Given how basic this chequing account is, $11.95 a month is really a lot. It’s very difficult to justify this fee since there are other chequing accounts available with more features and lower (or no) fees.
High minimum balance required to waive that fee
If you maintain a daily balance of at least $3,000 in this account for a full month, your fee for that month will be waived. But you have to maintain a balance of $3,000 or higher for the entire month. If it dips below that level even once, you’ll be charged the monthly fee. Also, if you have $3,000 that you can leave sitting in an account for months at a time, you’d be far better off putting it into a high interest savings account or an investment account where it can do some good.
No other special features or freebies
There are other chequing accounts available that have lower fees, more features, and extra freebies besides. It’s really worth doing some research to find out just what’s available before making a final decision.
BMO Plus Plan alternatives
So, what do some of the other banks have to offer for basic chequing accounts?
 |  |  |  | |
|---|---|---|---|---|
| Account | BMO Plus Chequing Account | National Bank The Minimalist Chequing Account | Scotiabank Preferred Package | RBC Day To Day Banking Account |
| Genius Rating | ||||
| Why You Want It | Get a $100 welcome bonus + 25 transactions per month. | $0 monthly for kids, students, and eligible seniors + Free Interac e-Transfers. |  $100 GeniusCash + Get up to a $700* welcome bonus + Earn Scene+ points on all debit purchases. | $0 fee with Value Program Rebate + Save on fuel at Petro-Canada. |
| Minimum Balance To Waive Fee | $3,000 | N/A | $4,000 | N/A |
| # Of Free Monthly Transactions | 25 | 12 | Unlimited | 12 |
| # Of Free Monthly Interac E-Transfers | Unlimited | 12 | Unlimited | Unlimited |
| Monthly Fee | $11.95 | $3.95 | $16.95 | $4.00 |
| Excess Transaction Fee | $1.25 | $1.25 | N/A | $1.25 |
Show More | ||||
| Open an account See more BMO products Compare | Open an account See more National Bank products Compare | I Want This Deal See more Scotiabank products Compare | Learn More See more RBC products Compare |
Comparison to other BMO chequing accounts
If you’re a fan of BMO and know you want to bank with them, you should take a look at the different chequing accounts they have available. Here are a couple of others to compare.
| | | |
|---|---|---|---|
| Account | BMO Premium Chequing Account | BMO Performance Chequing Account | BMO Practical Plan |
| 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 12 transactions/month for a low monthly fee + No monthly fee for seniors. |
| Minimum Balance To Waive Fee | $6,000 | $4,000 | N/A |
| # Of Free Monthly Transactions | Unlimited | Unlimited | 12 |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $30.95 | $17.95 | $4.00 |
| 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 | Learn More See more BMO products Compare |
BMO Plus Plan FAQ
What’s the monthly fee for the BMO Plus Plan chequing account?
The BMO Plus Plan chequing account normally costs $11.95 a month. This fee is waived if you maintain a $3,000 daily balance in the account for a month. Seniors 60 and over get a $4 discount.
Is there any way to get the BMO Plus Plan account for free?
If you maintain a daily balance of $3,000 or higher in this account for a month, the fee for that month is waived. But if the balance dips below that threshold at any point, the fee will not be waived. Fees for Kids and students are waived completely.
How many free transactions are included with the BMO Plus Plan chequing account?
You get 25 free transactions with the BMO Plus Plan chequing account, after which you’ll pay $1.25 for each. This doesn't include Interac e-Transfers – those are unlimited and free.
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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