BMO vs TD 2026: Which Is Better?

Side-by-Side

BMO vs TD — Feature Comparison

Every major feature compared. Green cells indicate the better value.

	BMO	TD
Signup Bonus	None (occasional $200–$350 promos)	None (occasional $200–$400 promos)
Monthly Fee	$6.95–$30.00/month	$10.95–$29.95/month
Cash Back	Via BMO credit cards	Via TD credit cards
Credit Check	Hard credit check for most products	Hard credit check
Savings Interest	0.01–0.05% standard	0.01–0.05% standard
Credit Building	Yes — credit card products	Yes — credit card products
Mobile App	⭐⭐⭐⭐ (4.2 App Store)	⭐⭐⭐⭐½ (4.4 App Store)
CDIC Protected	Yes — CDIC member	Yes — CDIC member

Deep Dive

Pros & Cons

The key strengths and weaknesses of each account.

BMO

Big 5 bank with full branch and ATM network

Pros

Full branch + ATM network nationwide
Complete product suite (mortgages, investments)
BMO InvestorLine for self-directed investing
CDIC insured
Strong mortgage products
Multiple account types

Cons

Monthly fees up to $30
No free signup bonus on chequing
Low savings interest
Hard credit check required

TD

Canada's most convenient bank with longest branch hours

Pros

Longest branch hours of any bank
Largest ATM network in Canada
Excellent TD credit card lineup
Strong mobile banking app
CDIC insured
US banking integration (TD Bank USA)

Cons

Monthly fees up to $30
No free signup bonus
Low savings interest
Fees add up for light users

Our Verdict

Which Is Better: BMO or TD?

🏆 Winner: BMO

BMO wins for most Canadians in 2026

Both BMO and TD have their strengths. BMO is the better fit for most Canadians, but your choice depends on your specific needs.

Signup bonus: Neither BMO nor TD offers a significant cash bonus — consider KOHO ($80 free) or Neo ($50 free) instead.
Monthly fees: Both BMO and TD offer comparable fee structures.
Savings interest: BMO offers 0.01–0.05% standard vs. TD's 0.01–0.05% standard.
Mobile app: BMO rates ⭐⭐⭐⭐ (4.2 App Store) vs. TD's ⭐⭐⭐⭐½ (4.4 App Store).

Get Started

Open Your Account Today

Compare both options and claim any available signup bonuses below.

Open Account

BMO

Bonus: None (occasional $200–$350 promos)
Fee: $6.95–$30.00/month

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Open Account

TD

Bonus: None (occasional $200–$400 promos)
Fee: $10.95–$29.95/month

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FAQ

BMO vs TD: Common Questions

Is BMO better than TD in 2026?

It depends on what you need. BMO (Big 5 bank with full branch and ATM network) vs TD (Canada's most convenient bank with longest branch hours). For a signup bonus, BMO offers None (occasional $200–$350 promos) while TD offers None (occasional $200–$400 promos). For monthly fees, BMO charges $6.95–$30.00/month vs TD's $10.95–$29.95/month. See the full comparison table above for a complete breakdown.

Does BMO or TD offer a signup bonus?

BMO signup bonus: None (occasional $200–$350 promos). TD signup bonus: None (occasional $200–$400 promos). If neither offers a cash bonus, consider also opening KOHO (code 45ET55JSYA for $80 free) or Neo Financial (code J4C9H3K5 for $50 free) — the two biggest free bonuses available to Canadians right now.

Are BMO and TD CDIC insured?

BMO: Yes — CDIC member. TD: Yes — CDIC member. CDIC coverage protects deposits up to $100,000 per category at member institutions. Always verify current coverage details on the CDIC website.

Can I have both BMO and TD accounts at the same time?

Yes — there is no rule preventing Canadians from holding multiple bank accounts simultaneously. Many people keep one account for savings and another for spending. You can open both BMO and TD to take advantage of each account's best features.

What is the monthly fee for BMO vs TD?

BMO monthly fee: $6.95–$30.00/month. TD monthly fee: $10.95–$29.95/month. Monthly fees are one of the biggest differences between accounts — even $15/month adds up to $180/year.

Which has better cash back: BMO or TD?

BMO cash back: Via BMO credit cards. TD cash back: Via TD credit cards. Cash back rates can vary significantly depending on spending categories. Check each bank's current promotions as rates change.

BMO vs TD in 2026