BMO New Account Offer 2026: How to Get $900 Cash Bonus

There’s a moment every spring when Canadian banks roll out their biggest account bonuses, and 2026 is no exception. BMO’s Summer Everyday Banking Offer promises up to $900 in cash, but the real puzzle is how the terms stack up against what RBC and TD are dangling. This article walks through the fine print, the trade-offs, and the steps to actually pocket the money — so you don’t leave a cent on the table.

Maximum Bonus: $900 CAD · US Offer: $400 USD · Newcomer Value: Up to $2,500 · Promotion Period: Summer 2026

Ten rows, one pattern: the $900 bonus is not a free lunch — you have to play the full combo to unlock the top tier.

How do I get the BMO cash bonus?

Steps to open a BMO chequing account

• Go to BMO’s offer page and click “Open an account”.
• Choose the BMO Performance Plan or Premium Plan — only these qualify for the bonus (BMO terms).
• Provide a valid email address during the application.
• Make at least one deposit of any amount into the new chequing account.

Meeting the direct deposit requirement

The terms do not specify a “direct deposit” per se — instead they require at least one deposit of any amount. For the premium path, you also need to open a Savings Amplifier Account, set a savings goal in My Financial Progress, and deposit $10,000 or more (BMO terms).

Timeline for receiving the bonus

The offer runs from May 21, 2026 to August 6, 2026. BMO says the bonus will be deposited into the account within 90 days of meeting all qualifying activities.

What is the new welcome offer for BMO?

BMO Performance Plan offer

• Up to $900 cash bonus when you open a Performance Plan chequing account and follow the combo steps.
• Monthly fee $13.95, waived with $4,000 average daily balance.
• Includes unlimited transactions, e-transfers, and a debit card.

BMO Premium Plan offer

• Same $900 bonus potential, but the Premium Plan has a $30 monthly fee, waived with $6,000 balance.
• Additional perks: safety deposit box, preferred rates, travel medical insurance.

The difference between the two plans is the monthly fee breakpoint and the extra features. Both can earn the $900 if you complete the savings path.

BMO’s US checking offer

BMO’s US division offers a separate $400 USD cash bonus for new personal checking clients. The offer is available to US residents and requires opening a qualifying checking account and completing activities defined on the offer page (BMO US official site – note: actual offer page URL not provided in research; check BMO US for details).

The implication: BMO segments its market by country, so Canadian applicants should focus exclusively on the domestic $900 bonus.

Which bank has the highest welcome bonus?

Four major banks, four different playbooks: BMO leads on headline cash value, but RBC and TD offer alternative incentives. Here’s how they line up.

Three banks with concrete offers, two with less transparent deals. BMO’s $900 is the highest pure cash number, but RBC’s iPad could appeal to users who want tech instead of cash.

BMO vs RBC

RBC requires at least two qualifying activities within 90 days — direct deposit, two pre-authorized payments, or two bill payments (RBC New Bank Accounts Offers Canada). You must keep the account open until at least November 2, 2027 to keep the iPad. BMO has no such long-term hold requirement for the cash bonus.

BMO vs TD

TD’s $500 chequing path is straightforward: open a TD Unlimited Chequing or All-Inclusive account. An extra $150 requires savings and credit card actions (TD Chequing and Savings Offer). BMO’s $900 has a higher ceiling but also a bigger deposit requirement.

BMO vs CIBC

CIBC’s offer is not detailed in available research. Visit their promotions page for current terms.

BMO vs Scotiabank

Scotiabank’s offer is also not covered here. Check their site for the latest welcome bonus.

What is the disadvantage of BMO?

Monthly maintenance fees

The BMO Performance Plan costs $13.95 per month unless you keep $4,000 average daily balance. The Premium Plan costs $30 unless you keep $6,000 (BMO terms). If you let the balance dip, the fee eats into the bonus.

Minimum balance requirements

Waiving the fee requires a significant balance — $4,000 or $6,000. That’s money you can’t use for other purposes. By comparison, some online banks offer no-fee accounts with no balance requirement.

Limited branch network in some regions

BMO has fewer branches than RBC and TD in provinces like Quebec and Alberta (Wikipedia – Bank of Montreal). If you prefer in-person banking, that’s a consideration.

The pattern: BMO’s high headline number comes with strings — fee waivers require locked-up cash, and the full bonus demands a $10,000 deposit.

What are the requirements for the BMO new account offer?

Eligibility criteria

• Must be a new BMO client (no existing BMO chequing account).
• Must open a Canadian Dollar Primary Chequing Account online or in-branch.
• Must provide a valid email address.

Required documents

Standard identification: driver’s license or passport, Social Insurance Number (SIN) for tax purposes, and proof of address.

How to apply online

1. Visit the BMO Summer Everyday Banking Offer page.
2. Click “Open an account” and select the Performance or Premium Plan.
3. Fill in personal details, including email and identification.
4. Fund the account with at least one deposit.
5. For the full bonus, also open a Savings Amplifier Account and set a savings goal.

Student offer requirements

BMO’s student offer may be separate from this promotion. Check BMO’s student banking page for details. The main offer likely does not apply to student accounts.

Timeline signal

One offer, three deadlines: the competitive window is tight.

BMO’s offer ends earliest — August 6. If you want cash, act by August. If you’re flexible, RBC and TD give you until fall.

What the banks say

“Open a new BMO chequing account online and get a bonus up to $900.”

— BMO official promotion description (paraphrased from terms)

“Get a new iPad when you open an eligible RBC chequing account.”

— RBC New Bank Accounts Offers Canada

“Get up to $750 in value with a new chequing account and more.”

— TD Chequing and Savings Offer page

The catch: BMO’s $900 cash offer is straightforward but conditional on two products and a $10,000 deposit. RBC’s iPad is a gadget, not cash, and requires a two-year commitment. TD’s $750 is split but has lower balance requirements. For Canadian consumers who can park $10,000, BMO is the clear winner. For those who can’t, TD’s $500 chequing path is more attainable.

Frequently asked questions