The Practical Plan is BMO's lowest-normal-fee general personal chequing option in this comparison. Written cheques share its 12-transaction monthly allowance; excess transactions and cheque orders cost extra.
BMO Practical Plan
A low-volume BMO chequing plan with a $4 normal monthly fee and a limited transaction allowance.
At a glance
- Monthly fee
- $4
- Monthly transactions
- 12
- Monthly Interac e-Transfers
- 12
- Interest
- None
Overview
Features and access
Monthly fees and transactions
- Monthly fee
- $4The normal monthly fee is $4.00; audience-restricted concessions are not treated as general waivers.
- Monthly transactions
- 12Twelve monthly transactions are included; additional transaction charges apply.
Transfers
- Monthly Interac e-Transfers
- 12Each send consumes the shared 12-transaction allowance. There is no separate Interac send fee; excess transactions cost $1.25 each.
Card and payments
- Payment card
- YesBMO debit-card access is available.
Cash and branch access
- Cash deposits
- Branches + deposit ATMsBMO directs customers to a branch or deposit-capable BMO ATM to deposit physical cash.
- Cash withdrawals
- BMO + supported ATMsBMO ATM withdrawals have no separate BMO ATM fee but consume plan transactions. BMO charges $2 at non-BMO ATMs in Canada and $5 outside Canada; operator charges may also apply.
- Branch access
- YesBMO branch service is available.
Cheques and ownership
- Cheque writing
- YesCheque writing is supported. Each cheque consumes the shared 12-transaction allowance; excess transactions and cheque orders cost extra.
- Cheque deposits
- YesCheques can be deposited at BMO branches and deposit-capable ATMs or through BMO Mobile Deposit.
- Joint account
- UnknownJoint-account support was not established by the reviewed product material.
Interest
- Interest rate
- NoneThe account is not presented as interest-bearing.
Deposit protection
Eligible deposits are held directly at Bank of Montreal; a CDIC member; subject to CDIC limits and categories.