How many Points does the welcome offer pay?

Up to 135,000 Blue Points, when you open a new Blue Rewards Chequing Account and a new BMO Savings Amplifier Account. At the redemption rate of 1,500 Points for $10, the full bonus is worth $900.

What is the monthly fee?

$17.95 a month, or $215.40 a year. BMO states that no minimum balance is required as long as the monthly plan fee is paid.

How many Points does the debit card earn?

2 Points for every $2 on groceries, gas, wholesale club and EV charging purchases, up to $1,000 in eligible purchases a month. Everywhere else, 1 Point for every $2, up to $5,000 a month. The ceiling from spending alone is 42,000 Points a year.

At what spending level does the account pay off?

Around $2,385 in monthly debit spending, counting both 500-Point monthly bonuses. Below that, the Points earned do not cover the $215.40 in annual fees once the welcome bonus is banked.

Do you need a BMO credit card to open the account?

No. A credit card is not required, but the BMO Blue Rewards World Elite Mastercard adds 500 Points a month through the bundle bonus, or 6,000 Points a year.

Is the Savings Amplifier Account mandatory?

It is required to collect the full 135,000 Points. It has no monthly fee and no minimum balance, and it gives access to a promotional interest rate when you open an eligible BMO chequing account.

Do you need this account to earn on debit?

No. The Practical, Plus, Performance, Premium and Senior plans earn 1 Point for every $2 on groceries, wholesale clubs, gas and EV charging. The cap is $300 in net purchases a month, or about $12 a year. Debit earning does take an opt-in, through BMO Online Banking or the mobile app.

How does it differ from the Performance account?

Both cost $17.95 a month and include unlimited transactions. The Performance account is built around a cash welcome bonus, while the Blue Rewards Chequing Account earns Blue Points on debit purchases and unlocks the program's monthly bonuses.