What happens to BMO NewStart after two years?
BMO currently advertises the Performance Chequing plan with no monthly plan fee for eligible newcomers for two years. After the newcomer period, the regular Performance plan fee applies unless you meet a waiver condition.
Short answer
BMO currently advertises the Performance Chequing plan with no monthly plan fee for eligible newcomers for two years. After the newcomer period, the regular Performance plan fee applies unless you meet a waiver condition.
BMO currently lists Performance Chequing at $17.95 per month or $0 with a $4,000 minimum balance.
Current numbers to know
- Newcomer fee waiver: 24 months.
- Standard Performance fee: $17.95 per month.
- Published simple balance waiver: $4,000 minimum balance.
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.