Senior Plan

The Senior Plan focuses on two areas key to meeting the needs of seniors:

• Minimizing the cost of banking, and
• enhancing travel benefits.

Banking will cost you less because the Senior Plan is free, and includes unlimited transactions. You can bank however you want – online, by telephone, at a Branch and at BMO ABMs – with no worry about exceeding transaction limits.

You can simplify your banking by putting all your accounts – including chequing, savings and joint accounts – under your Senior Plan, all for free¹. BMO is the only bank to offer this money-saving feature.

No Monthly Plan Fee²

• Unlimited monthly transactions (including account history inquiries)
• 1 debit transaction per month, using non-BMO ABM on the INTERAC ®* network^{3, 4}
• 1 free statement / passbook per month
• Cheque image return option⁵
• Bill payments at any BMO Bank of Montreal branch at no extra charge

• Overdraft Transfer Service between personal accounts in the Banking Plan to cover overdraft at no extra charge
• Overdraft protection⁶ up to $50 U.S. on U.S. dollar chequing accounts in good standing
• Personal Credit Reserve⁷ (up to $2,500) with no monthly fee or per item fee⁸
• Occasional Overdraft Protection Service⁶ (OOPS!® - up to $500) on an account in your Plan with no per-item fee

• To help you save money we are the only bank to offer:
• no-fee, traditional-style, single signature travelers cheques
• no-fee U.S. Dollar Cheques for Two^TM
• 2 international debit transactions using non-BMO ABMs on the Cirrus^TM Network^{3, 4} per month
• 2 international Direct Payment purchases at merchants using Maestro^TM service per month
• Preferred exchange rate when buying or selling U.S. cash (up to $5,000 U.S. per transaction)
• Trip protection included at no additional cost to you with your BMO Travel Medical Insurance purchase⁹

• Multiple Canadian or U.S. dollar personal accounts, including accounts held jointly with, or individually by, your spouse, are covered under the Senior Plan¹
• Your Plan must have a lead (main) account from which any transaction fees that exceed the monthly transaction limits will be debited¹⁰
• Start turning your banking into AIR MILES reward miles. See Senior Plan with AIR MILES and Find out how fast your reward miles can add up.
• Free personalized cheques
• Free money orders and drafts (in available currencies)
• Free certified cheques and stop payments
• Post-dated items for deposit accepted for free
• $5 discount on annual rental fee for a safety deposit box¹¹
• Redemption fee waived for RRSP withdrawals
• Annual fee waived on Self-directed RRSP or RRIF offered by BMO Investorline^{TM, 12}
• Reimbursement of up to $25 for RRSP transfer fees charged by other financial institutions when you transfer your RRSP balances to Bank of Montreal
• 50% discount on annual fee on self-directed Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) offered by BMO Nesbitt Burns^{TM, 12}
• Free certificate of confirmation of balance

To qualify for the Senior Plan, you must register in a BMO Bank of Montreal branch by providing proof of age.

As of November 1, 2009, customers receiving a Senior Discount within the Performance, Plus, and Practical plans, as well as the discontinued Senior Plan, Enhanced Plan for Seniors, i.connect, Enhanced, Standard and Instabanking plans, were automatically moved to the Senior Plan. Customers with the discounted Premium Plan were not affected.

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.
²Customer is responsible for all fees of any transactions, services and products not included in the Everyday Banking Plan.
³Included in Monthly Transaction Limit
⁴Does not include fees that may be charged by non-BMO ABMs.
⁵Cheques made payable to yourself or to cash, and cashed at any branch, may not be returned but are described on your statement.
⁶No longer offered. Available to existing account holders only, prevailing rates of interest apply.
⁷Available to qualified customers; prevailing rates of interest apply.
⁸No per item fee charged provided you are within your approved Personal Credit Reserve limit.
⁹Phone activation required, please call 1-866-520-8828. Terms and Conditions provided upon activation, limitations and exclusions will apply. This offer includes: $2,000 per person trip interruption / Delay; $500 per person Flight Delay; $750 per person baggage / personal effects coverage; pre-trip assistance.
¹⁰U.S. dollar Plan and transaction fees are charged in U.S. dollars.
¹¹Subject to availability. One safety deposit box per Senior Plan.
¹²Minimum balance requirements may apply.


^TMRegistered trade-mark of Bank of Montreal, used under licence. Member CIPF.