BMO Newcomer Performance Chequing Account

BMO is currently offering newcomers up to $900 in cash bonuses when they open an eligible plan under its NewStart program.

BMO markets the total package as up to $2,500 in value once monthly fee savings and credit card offers are added on top of the cash.

To qualify, you'll need to meet a few conditions.

• You've arrived in Canada within the past 5 years, as a permanent resident or on a work permit
• You open an eligible newcomer plan
• You complete the qualifying actions attached to the offer

The plan carries the standard Performance Chequing fee of $17.95 per month.

BMO rebates the monthly fee for an introductory period under its NewStart program, so newcomers bank without the fee while the rebate applies.

Day-to-day banking is fully covered, as the plan includes unlimited transactions.

The Newcomer Performance Chequing Account gives new arrivals BMO's full Performance banking package from day one.

You'll get unlimited transactions and unlimited Interac e-Transfers, and there's no Canadian credit history required to open the account.

The plan also opens the door to BMO credit cards, with eligibility designed for newcomers who haven't yet built a credit file in Canada.

Deposits are eligible for CDIC coverage.