BMO checking accounts do not require a large cash commitment to open. The exact minimum deposit to open depends on the checking option and application channel, so confirm the current BMO account disclosure before you apply. Minimum to open means the amount BMO asks you to deposit when you start the account. It is different from an ongoing balance rule or a bonus requirement.
Table of Contents
- What does the minimum actually cover?
- How do you fund the opening deposit?
- Does the opening deposit count toward a bonus?
- What should you check before you apply?
What does the minimum actually cover?
A minimum opening deposit is a one-time funding step. It starts your account and becomes part of your available balance. It is not a fee and does not go to the bank as a charge. That amount is separate from other checking rules.
Monthly maintenance rules, overdraft rules, and minimum daily-balance rules operate after the account is open. A small opening deposit does not guarantee you will avoid later fees. Bonus seekers should keep a third category in mind. Many checking promotions require qualifying direct deposits, debit transactions, or a higher balance held for a set period. Those bonus conditions are stricter than the basic amount needed to open.
How do you fund the opening deposit?
Most applicants fund a new BMO checking account from another bank account, a debit card transfer, or a branch deposit. Online applications usually ask you to link an external account and move the opening amount during the application. Branch applications may accept cash, check, or transfer from an existing BMO account.
Use money you can leave in place. An opening transfer that is returned for insufficient funds or stopped can delay approval or trigger a fee from the other bank. Fund from an account with settled funds and your name on the account.
- Open the BMO application and select your checking option.
- Enter personal details and agree to identity checks.
- Link or present your funding source.
- Submit the requested opening amount and keep the confirmation.
Does the opening deposit count toward a bonus?
Usually no, or not by itself. A bonus offer generally looks for new money plus specific activity, such as payroll direct deposits or qualifying electronic credits. An initial transfer used only to open the account often does not meet that activity test. Read the bonus terms separately from the account terms.
Note who qualifies as a new customer, which deposits count, what deadline applies, and how long the account must stay open. Missing one activity step can disqualify an otherwise funded account. Keep records of both steps. Save proof of your opening funding and separate proof of each bonus-qualifying transaction. If a bonus does not post, those records make a customer-service inquiry faster.
What should you check before you apply?
Start with the official BMO account agreement, fee schedule, and any bonus offer page. Confirm the opening-deposit language for your exact account, plus ID rules, funding limits, and timing for electronic transfers. Terms can differ between online and in-branch openings.
Also compare ongoing costs and access. Look at the monthly fee and waiver options, ATM access, overdraft choices, and mobile banking features. A low amount to open matters less if the monthly upkeep does not fit your use. For bonus chasers, compare the bonus requirements side by side with the basic account rules before you submit funding.
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