Summary: What you’ll find here
Ever wondered how an international student can actually get a working bank account at BMO in Montreal, without running into a bureaucratic brick wall? I’ll break down the process step by step, share my own stumbles and discoveries, and sprinkle in some real-world screenshots, regulatory context, and even a few expert takes. We’ll cut through marketing fluff and get to what actually happens at the counter (or online), so you’re not lost between the theory and practice.
Opening a BMO Account as an International Student in Montreal: The Real Deal
When I landed in Montreal as a grad student, I was totally overwhelmed—housing, phone, transit, and then... banking. Every bank’s website promised “easy” student accounts, but the details were a maze. BMO, being one of the “Big Five” in Canada, looked like a solid choice, especially since their branches are everywhere and their International Student GIC Program is often the go-to for newcomers.
But what do you actually need to open an account? Do they really treat international students differently? Here’s what I learned—sometimes the hard way.
Step 1: Figure Out What Documents You Really Need
Forget what your friend’s cousin’s roommate told you. BMO, as per Canadian federal regulations (see Government of Canada: Opening a Bank Account), requires at least two pieces of valid ID. For international students, these are usually:
- Passport (mandatory, and they’ll scan it)
- Study Permit (IMM 1442)
- Letter of Acceptance from your university (sometimes requested)
- Canadian address proof (can be your dorm, a lease, or even a hotel receipt in a pinch)
- Student ID (if you’ve received it)
One time, I forgot my address proof—thought my email confirmation from the university was enough. Nope. The branch manager politely but firmly said, “We need something with your name and a Montreal address on it.” Ended up running to my dorm, getting a printout, and trying again.
Step 2: Book an Appointment (And Why You Should)
Walk-ins are technically possible, but branches in Montreal during August/September are a zoo with all the new students. I tried a walk-in at the downtown branch and waited 90 minutes, only to be told they were fully booked for the day.
The smarter way is to book an appointment online. You’ll get a confirmation email and, if you’re lucky, a reminder call. Pro tip: Choose a branch near your campus or residence, and aim for mid-morning slots.
Step 3: Picking the Right Account Type
BMO actually has a dedicated International Student Banking Package. It’s similar to the domestic student offer, but tailored for newcomers:
- No monthly fee for 1 year
- Unlimited transactions
- Free Interac e-Transfers (super useful for rent, splitting bills, etc.)
There’s also the BMO Performance Chequing Account, which can be upgraded later. But as a student, you’re unlikely to need more than the basics. The bank officer will push credit cards (like the BMO SPC Mastercard)—you can say yes, but you might need a Canadian credit history or co-signer.
Screenshot from BMO’s actual offer page (2024):
Step 4: The Actual In-Branch Process (And What Can Go Sideways)
Once you’re at your appointment, here’s how it unfolded for me:
- Show all your documents (they’ll scan/copy them)
- Confirm your Canadian address—if you’re in a hotel/Airbnb, they sometimes accept a booking email, but not always
- Sign lots of forms—privacy, anti-money laundering, etc.
- Deposit funds (optional, but helpful if you want a debit card immediately)
- You get a temporary debit card, with the real one mailed to your address in 1–2 weeks
What threw me off: they asked for my SIN (Social Insurance Number). As a student, you don’t always have one yet—and you’re not required to provide it for opening a bank account. But some branches insist “for interest reporting.” If you don’t have it, just explain—they’ll usually proceed.
Also, if your French isn’t great, don’t stress. Most BMO downtown staff speak English, and some even Mandarin or Spanish. But suburban branches may be more French-forward.
Step 5: Activate Online Banking and Mobile App
You’ll get your Client Card number and a temporary password for BMO Online Banking (BMO Online Banking). Set this up right away—Canadian landlords and schools love e-Transfers.
Screenshot of BMO online banking setup page:
Regulatory Backdrop: Why Banks Ask for So Much
Banks in Canada are tightly regulated under the Bank Act and anti-money laundering (AML) rules overseen by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). That’s why they need all that ID, especially for non-residents.
According to the Financial Consumer Agency of Canada, banks must open an account for anyone with proper ID, regardless of citizenship, unless there’s a clear reason not to (like suspected fraud).
Case Study: My Roommate’s Account Hiccup
My roommate from India booked her appointment, brought her passport and study permit, but used her university’s “mailing address” (not her real residence) as her address. BMO rejected it, insisting on a physical address in Montreal. She went back with her lease, and it was fine.
Lesson: Always use your current, real, local address—even if it’s temporary.
Expert View: What Bankers Say
I spoke with a BMO branch manager in Côte-des-Neiges (let’s call her Marie), who said:
“It’s rare that we can’t open an account for an international student. As long as they have a valid study permit and a Montreal address, it’s straightforward. But we do need all the paperwork—sometimes students forget their address proof or bring a scanned copy instead of the original.”
Marie also mentioned that BMO is tightening ID checks due to OECD anti-money laundering guidelines, so don’t be surprised if they’re picky about original documents.
International Comparison: “Verified Trade” Banking Standards
Let’s zoom out for a second. How does “verified trade” or bank account verification for international students differ globally? Here’s a comparison table:
| Country/Region | Account Name | Legal Basis | Regulator | ID Verification |
|---|---|---|---|---|
| Canada | International Student Package (BMO, RBC, etc.) | Bank Act, AML Regs | FINTRAC, OSFI | Passport, Study Permit, Address Proof |
| USA | Student Checking (Wells Fargo, Chase, etc.) | USA PATRIOT Act, FDIC Rules | FDIC, OCC | Passport, I-20/DS-2019, Local Address |
| UK | International Student Account (Barclays, HSBC) | FCA Banking Regs | FCA, PRA | Passport, Visa, Proof of Address, University Letter |
| Australia | Student Everyday Account (CommBank, ANZ) | AML/CTF Act | AUSTRAC | Passport, Student Visa, Address, eCOE |
| EU (Germany) | Blocked Account (Sperrkonto) | BaFin, Money Laundering Act | BaFin | Passport, Visa, University Letter, Proof of Funds |
Bottom line: Canada is strict but straightforward. Germany, for example, requires proof you’ve deposited enough for a year’s living expenses (the “Sperrkonto”). In the US, you’ll get a debit card immediately but credit cards are another story.
Final Thoughts: What I’d Do Differently
If I were to do it again, I’d make a checklist, book an appointment early, and bring original documents—not scans, not phone screenshots. I’d also double-check my address proof. Realistically, opening an account at BMO in Montreal is much easier than in some other countries, as long as you follow the rules.
For next steps, I suggest:
- Book your BMO appointment online as soon as you have your study permit
- Gather all original documents—passport, study permit, lease or residence proof, and your university’s acceptance letter
- Don’t stress if you don’t have a SIN yet—it’s not essential for a bank account
- Use online banking immediately to set up e-Transfers for rent, tuition, etc.
If you run into issues, ask to speak to a branch manager, and reference the FCAC’s official policy—banks can’t refuse you without cause.
Honestly, banking in Montreal as an international student isn’t as daunting as it seems—just don’t expect it to be as instant as opening a Revolut account. And if all else fails, ask around—there’s always a friend who’s been through it (and made every mistake for you).