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BankingReviewed by Landed Canada Editorial Team · Updated May 2026

BMO NewStart Program for Newcomers 2026

Free banking plus a cash bonus for new Canadian residents.

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BMO's NewStart program offers newcomers (permanent residents, international students, and temporary foreign workers) free chequing for 1 year (BMO Performance Chequing fee waiver), a newcomer credit card with no Canadian credit history required, and a promotional cash bonus of up to $600 for setting up direct deposit. Eligibility: within 5 years of arriving in Canada. BMO has a strong international student banking program and is particularly popular with Indian and Chinese newcomers through branches in Brampton, Mississauga, and Richmond (BC). The BMO CashBack Mastercard for Newcomers offers 5% cash back in the first 3 months.

Frequently asked questions

Does BMO NewStart require a Canadian credit history?
No. BMO's NewStart program offers a newcomer credit card that does not require Canadian credit history, as long as you're within 5 years of arriving in Canada.
What bonus does BMO offer newcomers who sign up for NewStart?
BMO offers a promotional cash bonus of up to $600 for newcomers who set up direct deposit, plus free chequing for the first year through the BMO Performance Chequing fee waiver.

Compare all newcomer banking options

See how BMO NewStart compares to all other newcomer banking programs:

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