BMO · U.S. checking accounts

BMO Smart Money Checking

Checking with no overdraft charges, a $25 opening deposit and a $5 monthly fee waived for eligible customers under 25. SSN or ITIN accepted for eligible online applicants.

Pros

No overdraft charges; unaffordable transactions are generally declined or returned.
Branch and telephone application support.
Fee-free BMO and Allpoint ATM transactions in the U.S.

Cons

$5 monthly unless the under-25 waiver applies.
$25 minimum opening deposit.
Paper statements cost $2 per cycle unless waived; paperless statements are free.
2.8% foreign transaction fee applies; additional ATM or conversion charges may apply.
Online citizenship or resident-alien requirements apply; confirm a branch route if needed.

Generated from the provider's published terms and reviewed against official sources.

Costs and key facts

Recurring fee	5 (currency not confirmed)
Minimum opening deposit	25 (currency not confirmed)
SSN requirement	Conditional
ITIN accepted	Accepted
Credit check	NotStated

Fee waiver: The $5 monthly fee is waived when the primary account owner is under 25 on the fee assessment date.

Eligibility and application requirements

U.S. address: Required

Residency and other conditions: Online Smart Money applicants need a U.S. residential address, date of birth, contact details, an SSN or ITIN, and U.S. citizenship or U.S. resident-alien status. BMO directs applicants outside the online citizenship or residency criteria to a financial center or 1-888-340-2265. Confirm the documents needed for your status before applying.

Geographic restrictions: Not confirmed. Confirm availability in your state.

Product review: 17 Oct 2026. Source retrieval dates below are separate from editorial verification. An accepted ITIN does not establish residency eligibility.

Compare u.s. checking accounts requirements and costs · How we assess published requirements

Service fees

Overdraft / returned item	0 (currency not confirmed)
Outgoing domestic wire	30 (currency not confirmed)
Incoming wire	0 (currency not confirmed)
Outgoing instant transfer	Not confirmed
Incoming instant transfer	Not confirmed
Global remittance	Not confirmed · Outgoing international wires cost $50; foreign exchange and other-bank charges may apply.
Allpoint ATM	0 (currency not confirmed)
Other ATMs	BMO and participating Allpoint ATMs in the U.S. are free. Other withdrawals cost $3 plus applicable operator charges; foreign transaction fees apply outside the U.S.
Cash deposit	No fee for deposits at BMO ATMs or eligible participating ATMs where deposits are supported; not every ATM offers deposits.