Updated March 2025. BMO (Bank of Montreal) is Canada's oldest bank, founded in 1817. It's the fourth-largest Canadian bank by assets and one of the top 15 banks in North America. With significant US operations through BMO Bank (formerly BMO Harris), it's a strong choice for Canadians with cross-border needs.
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Get KOHO Free — Use Code 45ET55JSYA| Category | Details |
|---|---|
| Full Name | Bank of Montreal |
| Founded | 1817 (Canada's oldest bank) |
| Total Assets | ~$1.3 trillion CAD |
| Canadian Branches | ~900 |
| ATMs (Canada) | ~3,300 |
| US Banking | BMO Bank USA (formerly BMO Harris) |
| Mobile App (iOS) | 4.5/5 |
| Account | Monthly Fee | Transactions | Fee Waiver |
|---|---|---|---|
| BMO Performance Chequing | $11.95 | 12/month | $3,000 balance |
| BMO Plus Chequing | $15.95 | Unlimited | $3,000 balance |
| BMO Premium Chequing | $30.00 | Unlimited | $6,000 balance |
| BMO Student Chequing | $0 | Unlimited | Student status |
BMO's mid-tier Plus Chequing at $15.95 is cheaper than TD ($16.95) and Scotiabank ($18.95) for comparable features.
BMO is Canada's primary bank partner for the AIR MILES program. AIR MILES is earned at:
Redeemable for flights, hotels, merchandise, and instant in-store rewards (AIR MILES Cash). The BMO AIR MILES World Elite Mastercard is the flagship AIR MILES credit card in Canada.
| Account | Rate |
|---|---|
| BMO Premium Rate Savings | ~1.05% |
| BMO TFSA Savings | ~1.05% |
| BMO 1-Year GIC | ~3.5–4.5% |
BMO acquired Bank of the West in 2023, creating BMO Bank USA with a significant presence across the US Midwest and Sun Belt. For Canadians with ties to Illinois, Indiana, Wisconsin, Arizona, California, or other western US states, BMO offers genuine cross-border banking.
Information current as of March 2025. Verify all fees and rates directly with BMO.