Fee refund · Canada
How to get a BMO fee refunded
The short answer
BMO lists a $10 NSF fee (not charged more than once in 2 business days on the same account, or when the item would leave you overdrawn by less than $10) and, without Overdraft Protection, a $5 charge for each business day an item creates or increases an overdraft. BMO Performance Chequing costs $17.95 a month, or $0 with a $4,000 minimum daily balance.
To ask for a fee back, contact BMO soon after it posts, name the fee, its date and amount, and ask for a one-time courtesy refund. BMO decides — it isn’t guaranteed.
By Meet PandyaChecked Source: BMO Agreements, Bank Plans and Fees for Everyday Banking (effective June 2, 2026)
BMO’s common fees
From BMO’s official fee schedule, in Canadian dollars. Fees below are for BMO Performance Chequing, BMO Plus Chequing, BMO Practical Chequing.
| Fee | Amount | How to avoid it |
|---|---|---|
| Non-sufficient funds (NSF) fee | $10.00 for each cheque or pre-authorized debit returned NSF on a Canadian dollar account (for pre-authorized debits, each presentment and re-presentment)[1][3] | BMO says no fee is charged if the returned item would have left your account in an unauthorized overdraft of less than $10.00, only one fee is charged if more than one item is returned on the same business day, and the fee won’t be charged more than once within 2 business days on the same account. BMO says overdraft protection helps you avoid NSF fees. |
| Overdraft charge without Overdraft Protection | $5.00 for each business day that an item is paid and creates or increases the overdraft on your account, plus interest at BMO’s overdraft rate[1] | The fee doesn’t apply to residents of Quebec. BMO says you don’t have the right to overdraw without an overdraft agreement, and any overdraft, fees and interest are repayable on demand. |
| Overdraft Protection (optional) | Standard: $5.00 a month. Occasional: $5.00 for each business day you create or increase the overdraft. Plus interest at BMO’s overdraft rate (posted at bmo.com/rates). Coverage from $250 to $2,500, subject to credit approval.[1][3] | The Standard monthly fee doesn’t apply to residents of Quebec, and Occasional isn’t available to them. Both fees are waived with BMO Premium Chequing. Going past your limit costs $5.00 for each business day with Occasional; with Standard, the first business day over the limit is free, then $5.00 a day (not for Quebec residents). |
| Monthly fee - BMO Performance Chequing | $17.95 per month (unlimited transactions)[1][2] | $0 if you keep a minimum daily balance of $4,000 all month in the Primary Chequing Account designated as your Plan’s lead account. BMO also lists $0 Performance Plans for kids, teens, students, recent graduates and newcomers (for two years), and a $4.00 discount for seniors 60 and older. |
| Monthly fee - BMO Plus Chequing | $12.95 per month (25 transactions included)[1][2] | $0 with a minimum daily balance of $3,000 all month in the lead Primary Chequing Account. Seniors 60 and older, RDSP beneficiaries and Indigenous Peoples (after a first free year on the Performance Plan) pay $8.95. |
| Monthly fee - BMO Practical Chequing | $4.00 per month (12 transactions included)[1][2] | $0 for seniors 60 and older and RDSP beneficiaries (register at a branch with proof), and for Indigenous Peoples after their first free year on the Performance Plan. |
| Transaction fee over the monthly limit | $1.25 for each debit transaction over the limit on Plus (25) and Practical (12); none on Performance (unlimited)[1] | Debit purchases at Canadian public transit authorities don’t count toward the limit. |
| Non-BMO ATM fees | Non-BMO ATM on the Interac network in Canada: $2.00 each on Plus and Practical (Performance includes 1 a month). ATM outside Canada on the Cirrus network: $5.00 each. The other ATM’s operator may add its own convenience fee.[1] | BMO Premium Chequing includes unlimited non-BMO ATM withdrawals. |
| Foreign currency debit card transactions | Converted at the rate Mastercard charges BMO, plus 2.50% for purchases[1] | — |
BMO’s overdraft rules
- Federal rules in force since March 12, 2026 cap NSF fees on personal deposit accounts at federally regulated banks at $10, allow no more than one NSF fee per account within 2 business days, and allow none when the account is overdrawn by less than $10 (Financial Consumer Agency of Canada).
- BMO says that with Overdraft Protection you must make a deposit into your overdrawn account every 30 days, must not carry a negative balance for more than 90 consecutive days, and need a $0 or positive balance for at least one business day before using the overdraft again.
- BMO’s Overdraft Transfer Service moves money from an eligible BMO deposit account, Mastercard or line of credit to cover an overdraft, for $5.00 per transfer (included with Premium Chequing).
How to ask for a courtesy refund
General tips — not bank policy. What works is being specific, honest and brief.
- Ask soon after the fee posts, and name it exactly: the fee, its date and the amount.
- Say briefly what happened — a deposit that hadn’t cleared yet, a timing mix-up, a first slip in years. Keep it honest.
- Ask for a one-time courtesy refund of that fee. If you’ve banked there a long time or rarely pay fees, it’s fair to mention it.
- Be polite and brief. If the answer is no, ask whether there’s a way to avoid the fee next time — low-balance alerts, overdraft settings, or a different account.
- Banks decide case by case. A refund once doesn’t mean you’ll get one again, and nothing guarantees one.
What BMO says: BMO’s Overdraft Protection Agreement says it calculates an annual percentage rate from the interest and fees you’ve been charged, and may, at its discretion, refund fees that would push that rate above the maximum it’s permitted to charge. For its no-cost and discounted banking programs, BMO says plan and other fees paid before eligibility is confirmed may not be refunded.
How to contact BMO
As listed on BMO’s own website.
Wally, your AI money agent
Let Wally ask for you
Wally spots bank fees and can ask your bank’s chat or secure messages for a one-time courtesy refund. Not guaranteed.
BMO decides case by case.
Read-only — Wally never moves your money.
BMO fee FAQ
How much is BMO’s NSF fee?
BMO’s Agreements, Bank Plans and Fees for Everyday Banking (effective June 2, 2026) lists C$10.00 for items returned NSF on Canadian dollar accounts. No fee is charged if the returned item would have left you in an unauthorized overdraft of less than $10.00, and the fee isn’t charged more than once within 2 business days on the same account.
What does BMO charge if I overdraw without Overdraft Protection?
Since August 1, 2026, BMO’s schedule lists a $5.00 Overdraft Per Item Charge for each business day that an item is paid and creates or increases your overdraft (not for Quebec residents), plus interest at BMO’s overdraft rate. The overdraft, fees and interest are repayable on demand.
How can I avoid the BMO Performance Chequing monthly fee?
The fee is $17.95 a month. It’s $0 if you keep a minimum daily balance of $4,000 throughout the month in the Primary Chequing Account designated as your Plan’s lead account. BMO also offers the Performance Plan at $0 for kids, teens, students, recent graduates and newcomers (for two years).
Does BMO have a low-cost chequing account?
Yes. The Practical Plan costs $4.00 a month for 12 debit transactions, with $1.25 for each additional one; debit purchases at Canadian transit authorities don’t count. It’s $0 for seniors 60 and older and for RDSP beneficiaries who register at a branch.
Sources
- 1.BMO Agreements, Bank Plans and Fees for Everyday Banking (PDF) · June 2, 2026
- 2.BMO Chequing Accounts · October 15, 2026
- 3.BMO Overdraft Protection and Transfer Services · October 15, 2026
- 4.BMO Contact Us · October 15, 2026
- 5.FCAC news release: New NSF fee regulations bring down cost of banking for Canadians · March 12, 2026
Other banks
- CIBC fee refundCanadaCIBC lists a $10 NSF fee (not charged more than once in 2 business days on the same account, or when you’re overdrawn by less than $10) and a $5 charge plus 21% interest when it lets you overdraw without Overdraft Protection. The CIBC Smart Account costs $16.95 a month, rebated with a $4,000 end-of-day balance every day of the month.See the fees
- RBC Royal Bank fee refundCanadaRBC’s schedule lists a $10.00 NSF (returned item) fee, limited to one per two business days on the same account and not charged when the item overdraws the account by less than $10, plus a $5.00 overdraft handling fee when RBC lets you overdraw without Overdraft Protection. RBC Day to Day Banking has a $4.00 monthly fee that can be rebated to $0.See the fees
- Scotiabank fee refundCanadaScotiabank lists a $10.00 NSF fee (not charged when the shortfall is $10 or less, and not more than once within two business days per account), and a $5.00 handling fee per item if you overdraw without Overdraft Protection. Preferred Package has a $16.95 monthly fee that is waived with a $4,000 minimum daily closing balance.See the fees
- TD Canada Trust fee refundCanadaTD lists a $10 NSF fee (not charged more than once in 2 business days on the same personal deposit account, or when you are overdrawn by less than $10) and a $5 Payment Coverage Fee plus 21% annual interest when it approves a payment above your balance. TD Every Day Chequing has an $11.95 monthly fee that is $0 with a $3,000 daily balance.See the fees
- Bank of America fee refundUSBank of America’s schedule lists a $10 Overdraft Item Fee (no more than 2 overdraft items per day), but no fee on everyday non-recurring debit card purchases or ATM transactions. Advantage Plus Banking has a $12 monthly maintenance fee with several ways to avoid it.See the fees
- Capital One fee refundUSCapital One says it has eliminated all overdraft fees for its consumer banking customers, and 360 Checking has no monthly fee and no minimum balance. The fees its 360 Checking disclosure does list are small: $10 or $20 for a cashier’s check and $30 for an outgoing domestic wire.See the fees