BMO Smart Advantage Checking has no monthly fee and no minimum balance when you choose paperless e-statements. There is no daily balance to maintain and no direct deposit requirement. The sole condition is paperless statements — easily set in the BMO app.
BMO Bank Balance Requirements by Account
| Account | Monthly Fee | Minimum Balance | Waiver Condition |
|---|---|---|---|
| Smart Advantage Checking | $0 | None | E-statements |
| Smart Money Checking | $5 | None | No waiver |
| BMO Relationship Checking | $25 | $25,000 combined | Balance |
How to Enable E-Statements (Waive the $5 Fee)
- Log into the BMO mobile app or bmo.com
- Go to Account Settings → Statements
- Select Paperless / E-Statements
- Confirm your preference
Once set, the $5/month fee is permanently waived. You’ll receive statements electronically (email notification with a link to view in the app).
BMO vs Competitors: Minimum Balance
| Bank | Monthly Fee | Min Balance to Avoid Fee |
|---|---|---|
| BMO | $0 | None (e-statements) |
| Huntington | $0 | None (no conditions) |
| Citizens | $9.99 | None (1 deposit) |
| Fifth Third | $11 | $1,000 or $500 DD |
| Regions | $8 | $1,500 or $500 DD |
| TD Bank | $15 | $100 daily balance |
BMO and Huntington are the most fee-friendly large regional banks — both offer genuinely free checking (BMO with e-statements, Huntington with no conditions whatsoever).
Related Guides
- BMO Bank fees 2026 — Smart Advantage vs Smart Money fee comparison
- BMO Bank routing number 2026 — 071000288
- BMO Bank vs Chase 2026 — fee comparison
- BMO Bank customer service 2026 — 1-888-340-2265
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