BMO: Senior Banking Savings

BMO keeps its senior offer simple: anyone aged 60 or older qualifies. On the Practical Plan, the monthly plan fee disappears entirely, and the plan includes 12 transactions each month. On BMO’s other chequing plans, seniors receive a $4.00 reduction on the monthly fee. If you have banked with BMO for years and never mentioned your age, the saving may be sitting there unclaimed.

How to claim it

1. Find your current plan name and monthly fee on a recent statement.
2. Call BMO or visit a branch and ask for the senior pricing for customers aged 60 and over to be applied.
3. Watch your next statement to confirm the fee has dropped or disappeared.

The $4.00 reduction changes the Performance Plan from $17.95 to $13.95 a month, and the Premium Plan from $30.95 to $26.95 a month. The Practical Plan is the strongest offer of the group for light banking: no monthly fee at all, with 12 transactions included.

Transactions beyond the number included in a plan can carry their own charges, so the plan that looks cheapest on paper is not always the cheapest plan for your habits. Count how many debits you actually make in a month before you switch. Fees and plan terms can change, so confirm the details with BMO before you act.

Practical tip: bring a recent statement to the branch and ask the advisor to compare your current plan against the Practical Plan using your real transaction count.

Verified on October 18, 2026 against BMO’s own published senior banking pages.