BMO Banking for Permanent residents
Current pathway: Yes, within the published five-year arrival window.
Which BMO program applies?
BMO NewStart Performance Plan. BMO currently states that its NewStart Performance Plan offer is open to permanent residents who arrived in Canada within the last 5 years. The published plan-fee rebate is 24 months.
Documents to prepare
- Permanent Resident Card or Confirmation of Permanent Residence
- One piece of government photo ID
- SIN and Canadian address can support online opening after arrival
Credit-card note
BMO says Canadian credit history is not required for a NewStart credit-card application, subject to credit approval.
Can you apply before arriving in Canada?
BMO currently allows eligible permanent residents, foreign workers and international students from qualifying countries to open a pre-arrival chequing account when coming to Canada within 12 months. The pre-arrival account is activated in Canada after arrival.
See BMO pre-arrival requirements →
If you do not qualify for the special newcomer offer
FCAC states that a person may be able to open a bank account with proper identification even if they are not a Canadian citizen or live in another country. Special newcomer promotions have narrower bank-specific eligibility than the underlying right to seek a basic account.
This matters because a five-year newcomer window, minimum work-permit term or student-program rule can determine whether you receive a promotion without necessarily deciding whether an ordinary personal account can be opened.
Primary sources
BMO — Newcomers to Canada →
BMO NewStart pre-arrival process →
Financial Consumer Agency of Canada — Opening a bank account →
Next step: compare costs
BMO newcomer account fee calculator →
Check all four major-bank pathways →
See the full eligibility reference →
Research snapshot: September 13, 2026. This page screens published eligibility language; it does not guarantee account opening or credit approval.