• BMO Canada No Fee Daily Chequing Accounts Review

    BMO (Bank of Montreal) is one of Canada's longest running and most popular banking institutions. With regards to daily chequing accounts, BMO takes a similar approach to TD Canada Trust, where minimum balances held in your account qualify to have the monthly account fee waived. One very good thing about BMO is that they throw in a few non-BMO ATM debits in a month without a fee, and clients can also earn Air Miles rewards on Debit Purchases. This can be a big incentive when it comes to choosing a chequing account. BMO offers around 4 different plans to choose from, with the main difference being the number of free transactions you receive each month.

    BMO Performance Plan Free Chequing Account Review (No Fee with Min $3,000 Balance)

    The BMO Performance Plan Chequing Account is a great option for most Canadians. The account allows for unlimited transactions including bill payments, direct deposits, debit card purchases and BMO ATM withdrawals. This account also allows for 1 non BMO ATM withdrawal each month and two free Interact Email Money Transfers each month. This account normally carries a monthly fee of $13.95 but customers who maintain a minimum balance of $3,000 are eligible to have this bank fee waived.

    Performance Plan Main Features:
    - Unlimited Transactions
    - $13.95 Monthly Account Fee Waived on Balances of $3,000 or more

    Performance Plan Additional Benefits:
    - Two Free Interact E-Transfers every month
    - One Free non-BMO Transaction per month
    - Free Debit Transactions Outside of Canada (Maestro Network)
    - Free Travellers Cheques

    BMO Premium Plan Free Chequing Account Review (No Fee with Min $5,000 Balance)

    The BMO Premium Plan Chequing Account is an extremely comprehensive chequing account for Canadians and is well suited to anyone that keeps at least $5,000 in their chequing account on a rolling basis. It is designed for customers that make a lot of transactions and may not always be in close proximity to an ATM or debit machine on the BMO network. Customers who use this account receive ten free non-BMO ATM transactions each month. This is more than most plans anywhere. This chequing account also comes with some extended travel benefits. BMO awards Premium Plan account holders with one Air Mile for every $40 you spend using your debit card each month. And when you do travel, this card comes with five free international debit transactions as long as they are made on the Maestro Network. Normally this account comes with a $25 month fee, but the fee is waived for anyone holding a balance above $5,000.

    Premium Plan Main Features:
    - Unlimited Transactions
    - 1 Air Mile for Every $50 Spent on Debit
    - Fee Free (interest only charge) Overdraft Protection
    - $25 Account Fee Waived with $5,000+ Monthly Balance

    Premium Plan Added Benefits:
    - Two Free Interact e-transfers Each Month
    - Ten Free non-BMO Debit Transactions Each Month
    - Free Personalized Cheques
    - Free Travellers Cheques
    - Free Money Orders, Drafts, Certified Cheques and Stop Payments
    - Discount on a Safety Deposit Box
    - Five Free International Debit Transactions Each Month
    - Preferred Rate on US Exchange Transactions


    BMO Plus Plan Free Chequing Account Review (No Fee with Min $2,000 Balance)

    The BMO Plus Plan Chequing Account is a scaled down version of their Performance Plan Chequing Account. Rather than having unlimited transactions, you are limited to 30 per month without any extra charge. You also receive one free Interact e-transfer rather than two. Some of the features that remain the same in this Canadian chequing account are the no-fee travellers cheques, no-fee overdraft (interest still applies) and fee free debit transactions outside of Canada. This account is geared towards the younger generation or those that may just be getting financially established. The $9.95 monthly fee is waived if you keep more than $2,000 in the account and it's free of charge for children and students.

    Plus Plan Main Features:
    - 30 Transactions each month
    - Fee free Overdraft Protection
    - $9.95 Month Fee Waived with Monthly Balance of $2,000 or more
    - Fee is Waived for Children and Students

    Plus Plan Added Benefits:
    - One free Interact e-transfer each month
    - Free travellers cheques
    - No Fee debit purchases outside of Canada


    BMO Practical Plan Chequing Account Review (No Fee with Min $1,000 Balance)

    The BMO Practical Plan Chequing Account is the cheapest bare bones chequing account BMO offers to Canadians. The plan only comes with 10 transactions a month that include, ATM withdrawals, bill payments, account transfers etc... Canadians who don't do a lot of banking but want a simple chequing account may be interested in the Practical Plan BMO offers. Normally this account comes with a $4.00 monthly fee, but this is waived if you maintain a $1,000 balance. No Air Miles are earned on this account option.

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