How to waive a BMO monthly account fee
You get the published monthly fees for three named BMO chequing accounts, the words to look for on a statement, and a short list of questions for the phone. Asking BMO to remove a fee already charged is a request. BMO can say no. This page does not promise a waiver.
What this fee is
A monthly plan fee is a charge from the bank for the account itself. It is not a store purchase, not a subscription, and not a refund. A refund is money back. It is not a new expense.
An extra transaction fee is a different line. How fees show on a Canadian statement keeps the plan fee and the extra lines apart. Match the account name on your statement before you use a figure below. Your account agreement controls the fee, not this page.
Practical, Plus, and Performance
These amounts are in Canadian dollars. They come from the BMO Practical Chequing page. Monthly fees at large Canadian banks lists these accounts next to other banks.
BMO lists Practical at $4 a month, with up to 12 transactions a month, including Interac e-Transfer. BMO says unlimited no-fee debits for participating public transit do not count toward that 12. The Practical column on that comparison table does not show a minimum balance that removes the $4 fee.
The same comparison lists Plus at $12.95 a month, or $0 with a $3,000 minimum balance, and 25 transactions a month. It lists Performance at $17.95 a month, or $0 with a $4,000 minimum balance, with unlimited transactions. Read how BMO measures that minimum balance on the page before you count on $0. One day below the minimum can be enough for the fee, if that is the rule BMO prints.
BMO publishes separate offers for students, newcomers, seniors, Indigenous clients, and kids and teens. Read the offer on the BMO page before you count on a $0 fee. This guide does not restate an offer rule that is not in the comparison table above.
Find the fee on the statement
Read the account name first. Then look for a line named monthly plan fee, monthly fee, or account fee. Write the date, the printed name, and the amount. A Canadian dollar BMO statement stays in C$. How to read a statement PDF separates fees, purchases, payments, and refunds.
If BMO later credits the fee back, that credit is money returned. It is not a new expense, and it is not a subscription.
A $4 fee charged every month for 12 months is $48. The result is arithmetic. It is not a quote from BMO, and it is not money BMO has agreed to return.
What to ask BMO
Use the phone number on the statement if it is printed there. Have the date, the fee name, and the amount. Ask which plan is on the account: Practical, Plus, Performance, or a separate offer. Ask whether a minimum balance was required and whether the balance met it. Then ask BMO to review the fee or remove it. They can say no. This page has no success rate, because a made up rate would be a guess.
If the answer is no, ask what would have to be true next month for the fee to be $0, and ask for the bank's complaint steps. Start with BMO, then the outside office the bank names. Canadian bank fees explains that path. Expenvo does not file the complaint.
Upload a statement in Expenvo to see the bank fee lines it recognizes, listed on their own. The PDF stays on your device. Expenvo does not call BMO, and it does not promise the fee will be removed.
Questions
- Does a minimum balance remove the BMO Practical fee?
- The Practical column on the BMO comparison table does not show a minimum balance that removes the $4 fee. Plus lists $0 with a $3,000 minimum balance. Performance lists $0 with a $4,000 minimum balance.
- Are student, newcomer, and senior offers the same as Practical?
- No. BMO publishes those as separate offers. Read the offer on the BMO page. This guide does not treat them as the $4 Practical fee.
- Will BMO remove a fee it already charged if I ask?
- They might, and they might not. Asking is a request. Nothing on this page says BMO has to waive a fee already on the statement.
- Can Expenvo tell me the fee will be $0 next month?
- No. Expenvo can list a bank fee that is already on a statement. It does not know whether you will meet BMO's rule next month.
Sources
Related guides
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