BMO USD account overview
Save your money in a US dollar account with no monthly fees. Intrigued? Keep reading to find out more!
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Why bank with BMO?
BMO USD Account
The BMO (Bank of Montreal) USD account is a great choice for Canadians who need a place to keep their US dollars, or to keep money that they are paid in USD. By opening this account, you won't have the hassle of exchanging your money to Canadian dollars, and this is a major plus if exchange rates aren't favourable.
With BMO, you can save your money in a US dollar account with no monthly fees as long as you hold another type of account with the bank. This page outlines everything you need to know about the BMO USD account and how it can help you reach your financial goals.
With BMO, you can save your money in a US dollar account with no monthly fees as long as you hold another type of account with the bank. This page outlines everything you need to know about the BMO USD account and how it can help you reach your financial goals.
How to Create a USD Account with BMO
In order to benefit from the US dollar account with BMO, you must hold another type of chequing account with them. If you already bank with BMO, you can sign up online. Other new customers should visit a branch to open a USD account.
Sign up online: If you're already a customer of BMO, simply sign into online banking and fill out the application in as little as seven minutes. If not, you can follow the steps to open a chequing account.
Sign up in a branch: Book an appointment using the BMO website and see the nearest branch to you.
Sign up online: If you're already a customer of BMO, simply sign into online banking and fill out the application in as little as seven minutes. If not, you can follow the steps to open a chequing account.
Sign up in a branch: Book an appointment using the BMO website and see the nearest branch to you.
Key features
When you open any BMO USD account, be ready to enjoy the following key features:
Earn daily interest on every US dollar
Shared transaction limits with your chequing account
Add this account to your other account plan and only pay one monthly plan fee
Save in US dollars and access your money whenever you need it
Account Highlights
Monthly fees
BMO charges zero monthly fees for its US Dollar Premium Rate Savings Account.
Interest rate
Account holders benefit from a rate of 0.05%.
Minimum Balance
There is no minimum balance for the BMO US dollar account, so $0. However, to benefit from zero transaction fees, you must keep $1,500 in your account.