Expired Hot Deals

BMO Get $300 with a New Chequing Account!

  • Last Updated:
  • Nov 10th, 2020 3:27 pm
Thread Summary
1. Open a chequing account

2. Make a deposit of any amount

3. Complete two of the following*:
Set up recurring direct deposits
Make bill payments
Set up pre-authorized payments
52 replies
Deal Addict
User avatar
Dec 4, 2007
3953 posts
1609 upvotes
Quebec
It's not worth it, if they "give" you 300$, but you have to pay them back x amount per month.
Member
Jun 22, 2016
277 posts
176 upvotes
Not important
There is no monthly fee if you park 4000 or 6000 in the account. Looks like a deal to me. Doesn’t say anything about having a previous account before that disqualifies you from this years promo.
[OP]
Jr. Member
Nov 27, 2019
157 posts
119 upvotes
It depends for how long must someone have the account open.

The fee is 15.95 per month.
Sr. Member
Jun 26, 2010
708 posts
427 upvotes
Vancouver
florenntina wrote: I just found this interesting deal. Thumbs Up Sign
I went for this deal 3 years ago, back when they required $5k to waive fees. There was also a credit card promo to get even more money. Kept it all for about a year until they raised the minimum to $6k and changed the redemption rules on the credit card.
Deal Fanatic
User avatar
Dec 11, 2005
8106 posts
1167 upvotes
TO
Good deal op, was hoping to open this to waive the yearly fee on WE MC which I intend on keeping for the lounge pass and good 3/entertainment category.

Wish it had free locker but think they removed it
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
[OP]
Jr. Member
Nov 27, 2019
157 posts
119 upvotes
Here are complete offer details: https://www.bmo.com/assets/pdfs/edb-che ... ons-en.pdf

It seems that you can open the account in May, meet the conditions and close it when you get the bonus. The Bonus will be paid by August 31, 2020.

Theoretically, you can pay 4 fees ($64) and get $300.
It’s still profit of $236. Not bad at all.
Last edited by florenntina on Feb 5th, 2020 11:49 pm, edited 1 time in total.
Deal Addict
Jul 21, 2005
1205 posts
275 upvotes
florenntina wrote: Here are complete offer details: https://www.bmo.com/assets/pdfs/edb-che ... ons-en.pdf

It seems that you can open the account in May, meet the conditions and close it when you get the bonus. The Bonus will be paid by August 31, 2020.

Theoretically, you can pay 4 fees ($64) and get $300.
It’s still profit of $236. Not bad at all.
Read the details
"...Customers who close their Chequing Account or change to a plan other than an Eligible Plan before May 31, 2021, will no longer qualify for the Cash Bonus. If you close the Chequing Account or change to a plan other than an Eligible Plan and the Cash Bonus has been paid, we reserve the right, in our sole discretion, to withdraw the full value of the Cash Bonus from the Chequing Account or send you an invoice for any amount outstanding."
[OP]
Jr. Member
Nov 27, 2019
157 posts
119 upvotes
I see... That’s the “catch 22”. Then, it doesn’t worth as it looks like.
Newbie
Nov 26, 2018
20 posts
62 upvotes
MaxPower19 wrote: So $4k tied up for a year basically at 0% interest. Is the 2.75% a separate savings account?
When you open the chequing account that offers the $300 bonus, it says you get access to an exclusive 2.75% interest rate but you may have to open a Savings account to get that interest rate.
Member
Dec 23, 2008
218 posts
13 upvotes
MaxPower19 wrote: So $4k tied up for a year basically at 0% interest. Is the 2.75% a separate savings account?
Read the main offer: it comes with a $300 Opening bonus
$300 earned on $4K (+ say $200 to meet offer requirements) over a year is a return of ~7%, way better than 0% interest or even 2.75% interest.
Sr. Member
User avatar
Feb 3, 2007
889 posts
87 upvotes
i just opened an account on jan 30th!

is there still a way to qualify for this?

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