Practical Plan

If you have very straightforward banking needs, welcome to the Practical Plan. It offers 10 monthly transactions for those customers who don’t do a lot of banking each month.

You can simplify your banking by putting all your accounts – including chequing, savings and joint accounts – under your Practical Plan, all for just one monthly fee¹. BMO is the only bank to offer this money-saving feature.

The monthly Practical Plan fee is waived if a minimum monthly balance of $1,000 is maintained in a Primary Chequing account (when it has been designated as the lead (main) account for your Banking Plan).

Monthly Plan Fee: $4.00

Compare the Practical Plan to our other Banking Plans.
Find out about our Bank accounts.

• 10 monthly transactions limit (including account history inquiries).
• Bill payments at any BMO Bank of Montreal branch or BMO ABM at no extra charge.

• To help you save money, we are the only bank to offer no-fee, traditional-style, single signature travellers cheques.

• $0.60 fee for debit transactions and/or account history inquiries in excess of monthly transaction limit (per item).
• Multiple Canadian or U.S. dollar personal accounts, including accounts held jointly with, or individually by, your spouse, are covered by one monthly Banking Plan fee¹ (all accounts covered by the Banking Plan are subject to the Banking Plan’s monthly transaction limit).
• Your Banking Plan must have a lead (main) account (Canadian or U.S. dollar) from which the monthly Banking Plan fee and transaction fees that exceed the monthly transaction limit will be debited².
• The monthly Banking Plan fee can be eliminated by maintaining a specified minimum monthly balance at all times in your Primary Chequing account (when it has been designated as the lead (main) account for your Banking Plan).
• When your Banking Plan’s monthly transaction limits are exceeded, additional fees will apply on a per-item basis.
• You can link your BMO InvestorLine^®** AccountLink^® account and/or your BMO Nesbitt Burns^®‡ Access Service personal account to your existing Everyday Banking Plan. Debit transactions and account history inquiries completed through these accounts will be included in your monthly transaction limit.

How you can save:

• under 21;
• a student who’s 21 or older

To qualify for any of our free banking special discount programs, you must register in a BMO Bank of Montreal branch by providing proof of age. For the Student Discount Program, annual proof of full-time registration in a post-secondary university, college or registered private vocational school is also required.

Youth Discount Program: Beginning June 1, 2006, customers in the Instabanking Plan with the Youth Discount Program will be automatically converted at age 16 to the Plus Plan with the Young Adult Discount Program. Customers in the Standard Plan with the Youth Discount Program will be automatically converted at age 16 to the Performance Plan with the Young Adult Discount Program. Customers in any of the Basic (Practical), Initial (Plus), i.connect, Enhanced or Unlimited (Premium) Plans with the Youth Discount Program can remain in their respective Plans when they enter into the Young Adult Discount Program at age 16.

Effective November 1, 2009, customers with the following Everyday Banking Plans were automatically moved to the new Senior Plan: Performance, Plus or Practical Plans each with the senior discount; discontinued i.connect, Enhanced, Standard or Instabanking Plans each with senior discount; discontinued Senior Plan; discontinued Enhanced Plan for Seniors. Customers with the current Premium Plan with senior discount were not affected by these changes. When you turn 60, we will automatically switch you to the Senior Plan from the Performance, Plus and Practical Plan and the discontinued Plans i.connect, Enhanced, Standard, Instabanking. Premium Plan customers will remain in the Premium Plan but will receive the senior discount ($13.95 discount on monthly plan fee).

¹Up to 20 Primary Chequing, Interest Chequing (for existing customers only) or Premium Rate Savings accounts are eligible to be opened under the Banking Plan of your choice for one monthly fee, subject to the Banking Plan’s monthly transaction limits.
²U.S. dollar Plan and transaction fees are charged in U.S. dollars.


^®**Registered trade-mark of Bank of Montreal, used under licence. Member CIPF.
^®‡Nesbitt Burns is a registered trade-mark of BMO Nesbitt Burns Corporation Limited, used under licence.