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[BMO] Earn $300 when you open a chequing account + 2.85% savings rate

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  • Nov 11th, 2020 4:38 pm
[OP]
Deal Addict
Jul 21, 2005
1204 posts
275 upvotes

[BMO] Earn $300 when you open a chequing account + 2.85% savings rate

Summer 2019 Chequing Account Opening Offer: $300 Cash or 1,000 air miles, plus get access to 2.85% savings rate.

Terms and Conditions
From July 2, 2019 – October 31, 2019 (the “Offer Period”), earn up to $300.00 in cash bonuses or 1,000 bonus AIR MILES (the “Bonus”) when you open a new Canadian Dollar Primary Chequing Account (the “Chequing Account Offer”) at any BMO branch or online at bmo.com.

Chequing Account Offer
To qualify for the Chequing Account Offer (up to $300.00 cash bonus or 1,000 bonus AIR MILES) you must:

[*] Open a new Canadian Dollar Primary Chequing Account (the “Chequing Account”) with a new:
i. Plus Plan: and be eligible for a $50.00 cash bonus; or
ii. Performance Plan or Premium Plan: and be eligible for a $300 cash bonus or
iii. AIR MILES Plan: and be eligible for 1,000 bonus AIR MILES
(each an “Eligible Plan”) by October 31, 2019; and
[*] Keep the Chequing Account open, and in good standing (for example, your Chequing Account must not be in an unauthorized overdraft or in delinquent status) and
[*] Remain in an Eligible Plan until October 31, 2020.
AND
1. Make a deposit of any amount to the Lead Chequing Account by October 31, 2019;
AND
2. Set up one (1) recurring direct deposit from your employer, the government or your pension on your Lead Chequing Account and have deposits made into the account for at least two (2) consecutive months by December 31, 2019;
AND
3. Make (1) Bill Payment through BMO Online Banking or the BMO Mobile App (of at least $50) for at least two (2) consecutive months from your Lead Chequing Account by December 31, 2019;

Eligible Plans part of the Senior, BMO NewStart, Registered Disability Savings Plan, and PwC Bank at Work discounted banking programs also qualify for this offer. All other discounted banking programs do not qualify for the Bonus.

Exclusions
• Customers who have an existing Canadian or U.S. Dollar Primary Chequing Account, Canadian or U.S. Dollar Interest Chequing Account, BMO Sobeys AIR MILES, Chequing Account, BMO Club Sobeys Chequing Account, BMO IGA AIR MILES Chequing Account (each an “Existing Account”) are not eligible for the Chequing Account Offer.
Customers who closed their Existing Account between July 2, 2018 – October 31, 2019, and subsequently open a new Chequing Account are not eligible for the Chequing Account Offer.
• Joint Accounts: If two customers open a joint Chequing Account, no bonus will be paid if either customer has an Existing Account or closes their Existing Account between July 2, 2018 – October 31, 2019, and subsequently opens a new Chequing Account.
• Employees of Bank of Montreal and those with whom such employees are domiciled.


Savings Rate Offer:
According to fellow RFDer @ottawa_guy :
Once you open your Premium Plan or Performance Plan Chequing Account, you will receive an email invitation within 14 days to open a Smart Saver Account where you can earn 2.85% interest on deposits for up to 6 months. To receive this targeted email invitation, you must have a valid email on file, be signed up on BMO Online Banking and not have an existing Smart Saver Account or Savings Builder Account. The bonus rate will revert back to the posted rate after the offer period.
Last edited by Warped on Jul 4th, 2019 9:57 pm, edited 3 times in total.
Thread Summary
129 replies
Banned
User avatar
Jul 17, 2008
11042 posts
3826 upvotes
Sweet! An extension.

I thought I missed it. Perfect timing as I found out I can split my payroll
Deal Addict
Jul 15, 2009
1992 posts
1119 upvotes
Performance plan is $16/month. You need to keep it open from October 2019 to October 2020. 12 months of monthly fees is $192. So you net $108.
Banned
User avatar
Jul 17, 2008
11042 posts
3826 upvotes
bubak wrote: Performance plan is $16/month. You need to keep it open from October 2019 to October 2020. 12 months of monthly fees is $192. So you net $108.
lol.

That's why you keep $4000 in.

Return of 7.5%. Beats the market and guaranteed. Or, open the premium and get another year free of their elite MC while at it (that's what I'm doing)
Deal Addict
Dec 25, 2005
2175 posts
264 upvotes
Anyone know when they pay out the $300 after you've met everything?
Member
Aug 22, 2009
481 posts
436 upvotes
Ottawa
Boo. No love for self employed individuals!

I also got this email from BMO, but was looking for the T&C’s of the offer.
Guess I’ll open my free account with DND (Premium plan, spouse so I qualify)

Anyone know if this works with the DND free account, spouse can do payroll deposit there, so maybe they will stack?
Just waiting for the RBC iPad promo of last year to end so I can switch.
Last edited by ottawa_guy on Jul 4th, 2019 4:51 pm, edited 1 time in total.
Member
Aug 22, 2009
481 posts
436 upvotes
Ottawa
OP, Here’s the conditions from the email I received in regards to the savings portion.
Once you open your Premium Plan or Performance Plan Chequing Account, you will receive an email invitation within 14 days to open a Smart Saver Account where you can earn 2.85% interest on deposits for up to 6 months. To receive this targeted email invitation, you must have a valid email on file, be signed up on BMO Online Banking and not have an existing Smart Saver Account or Savings Builder Account. The bonus rate will revert back to the posted rate after the offer period.
Deal Addict
User avatar
Aug 3, 2009
1930 posts
404 upvotes
Nova Scotia
Can't see when the 2.85% will expire anywhere. Thoughts?
Deal Addict
User avatar
Feb 24, 2012
2619 posts
675 upvotes
Toronto
Not a bad promo.
Scotia's just expired last week
Member
Aug 22, 2009
481 posts
436 upvotes
Ottawa
haliwood wrote: Can't see when the 2.85% will expire anywhere. Thoughts?
Please read previous post Slightly Smiling Face
Member
Mar 2, 2011
426 posts
211 upvotes
West
How much is 1000 air miles "worth"? Or is $300 cash better.
Deal Fanatic
Apr 11, 2012
5579 posts
2793 upvotes
Winnipeg
My email also mentioned 150$ rebate for a cc fee
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Deal Fanatic
Apr 11, 2012
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Winnipeg
lil_dreams wrote: How much is 1000 air miles "worth"? Or is $300 cash better.
About 110$
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