How does the BMO Performance $4,000 fee waiver work?
BMO currently lists Performance Chequing at $17.95 per month or $0 with the published $4,000 minimum-balance condition.
Short answer
BMO currently lists Performance Chequing at $17.95 per month or $0 with the published $4,000 minimum-balance condition.
BMO currently waives the $17.95 Performance fee with its published $4,000 minimum-balance condition.
Current numbers to know
- Published Performance monthly fee: $17.95.
- Published minimum-balance waiver: $4,000.
- A $0-fee result is not the same thing as the $4,000 having no economic cost.
What this can cost over time
If the account is kept unchanged after the newcomer waiver, its current modeled recurring fee is based on a 24-month newcomer fee waiver followed by a standard monthly fee of $17.95. Use the bank-specific calculator to model one through five years rather than focusing only on the introductory period.
BMO newcomer account fee calculator →
Why this matters for newcomers
Introductory banking terms are temporary. A useful comparison separates the newcomer waiver from the normal account structure that follows it. The same principle applies to credit: having no Canadian credit file does not automatically mean you need to pay an annual fee, lock up a security deposit or accept the first product offered.
Official source
Related CanadaStarter tools
Newcomer Bank Fee Calculator →
Credit Utilization Calculator →
Credit Cards With No Canadian Credit History →
2026 Newcomer Banking Cost Study →
Terms checked September 12, 2026. Provider pricing and eligibility can change; verify the official source before applying or changing accounts.