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BMO

Open a new BMO chequing account get a welcome bonus up to $400 cash

  • Last Updated:
  • Jan 18th, 2023 8:49 am
[OP]
Member
Jun 11, 2012
379 posts
469 upvotes
Montreal

[BMO] Open a new BMO chequing account get a welcome bonus up to $400 cash

Terms and conditions:
https://web.archive.org/web/20230000000 ... ons-en.pdf
https://archive.is/bAa5z (archived pages in-case they're edited)

Get $350 cash when you do any two of the following by March 31, 2023:
  • a. One recurring direct deposit;
  • b. Two different eligible bill payments of at least $50 through BMO Online Banking or the BMO Mobile App to different billers. A transfer from your BMO Chequing Account to a BMO credit card product does not qualify as an eligible bill payment;
  • c. Two different pre-authorized debits of at least $50 from two different billers.
Get another $50 when you add a new family member account as part of Family Bundle to a new Eligible Plan that has qualified for the Chequing Account Offer; and that new family member account must be opened between November 1, 2022 – January 31, 2023



The cash back is available for either the Performance Plan ($4000 min daily balance for no fees) or Premium Plan ($6000 min daily balance for no fees)

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11 replies
[OP]
Member
Jun 11, 2012
379 posts
469 upvotes
Montreal
ATTENTION IMMIGRANTS:
Enjoy no monthly fees for a year*69 when you open a Performance chequing account
*69- a customer must be a permanent resident or foreign worker who arrived in Canada within the last five (5) years.
https://www.bmo.com/popups/main/persona ... #sixtynine

"New commers" can avoid the minimum daily balance requirements for the first year
Deal Addict
Jun 15, 2021
1227 posts
1137 upvotes
So now BMO is 2 PAD's and 2 Bill payments, up from 1 each for the promo that ended in Oct last year. Still better than CIBC's mandatory DD that must be maintained for 1 year.
Something something signature
Newbie
Jul 13, 2022
27 posts
23 upvotes
Has anyone been able to open the newcomer account online? Moneygenius is offering an additional 75$ rebate on the newcomer performance plan, but the online application errors out and says I need to go to a branch. There's also an extra 100$ rebate on the regular performance plan from Moneygenius.
[OP]
Member
Jun 11, 2012
379 posts
469 upvotes
Montreal
MrBungal wrote: So now BMO is 2 PAD's and 2 Bill payments, up from 1 each for the promo that ended in Oct last year. Still better than CIBC's mandatory DD that must be maintained for 1 year.
Yup, I ignore anything that requires keeping the account open more than 4 months. This is an easy churn considering I can overpay my cell phone bill to hit the $50 minimum bill payment and carry forward the balance. If you can't do PAD, just switch your direct deposits or get your up coming tax refunds deposited as they count.
Last edited by StergMTL on Jan 10th, 2023 10:27 am, edited 1 time in total.
Deal Addict
Mar 11, 2007
4220 posts
1357 upvotes
QC
The Chequing Account must remain open in an Eligible Plan until January 31, 2024
Newbie
Dec 24, 2018
59 posts
252 upvotes
Make sure you read the TOS.

The Chequing Account must remain open in an
Eligible Plan until January 31, 2024. Customers who close their
Chequing Account or change to a plan other than an Eligible
Plan before January 31, 2024, will no longer qualify for any
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.
Deal Addict
Jun 15, 2021
1227 posts
1137 upvotes
StergMTL wrote: Yup, I ignore anything that requires keeping the account open more than 4 months. This is an easy churn considering I can overpay my cell phone bill to hit the $50 minimum bill payment and carry forward the balance. If you can't do PAD, just switch your direct deposits or get your up coming tax refunds deposited as they count.
Well this is not for you because BMO always had 1 year from the end of promotion to keep the account open.

Only CIBC and Scotia didn't. Now with CIBC making DD mandatory and Scotia being the biggest scum bank that will fight tooth and nail to give you the bonus even though all the conditions have been met, I'm afraid the chequing account churning era is coming to a close.
Something something signature
Newbie
Aug 6, 2019
63 posts
7 upvotes
MrBungal wrote: So now BMO is 2 PAD's and 2 Bill payments, up from 1 each for the promo that ended in Oct last year. Still better than CIBC's mandatory DD that must be maintained for 1 year.
Do you know if the PAD needs to be monthly or is bimonthly ok too?
Deal Addict
Jun 15, 2021
1227 posts
1137 upvotes
TTRMND wrote: Do you know if the PAD needs to be monthly or is bimonthly ok too?
If it's at least once a month you're good.
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Newbie
Aug 6, 2019
63 posts
7 upvotes
So I assume a bimonthly PAD doesn’t work? It doesn’t say anywhere that it should be monthly though, or does it?

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