BMO Referral Bonus: Earn Up To $500 For Referring Friends

Learn how to earn rewards by referring friends to BMO. Discover the details of the BMO Referral Bonus program and how you can benefit.

Introduction

BMO is offering a referral bonus for customers who refer friends and family to open a new account. This promotion runs from February 2024 until June 30, 2024, and offers rewards for both the referrer and the referee.

This offer is currently available for Canadian customers only. The offer for US customers expired on October 31, 2021. American customers can instead look to earn up to $600 sign up bonus from BMO Bank here.

Here’s how you can participate and maximize your rewards.

BMO Referral Bonus Promotion

BMO’s Referral Bonus program is a simple and rewarding way for current customers to earn cash by referring new clients to the bank. Here’s how it works:

1. Sign Up for the Program: If you’re a Canadian BMO customer, start by signing up for the referral program in your account sign up.
2. Send Invitations: Once you’re registered, you can send referral invitations to your friends and family through email or social media.
3. New Account Opening: Your friend needs to open a new checking account specifically a new BMO chequing account and complete a few required activities.
4. Earn Your Bonus: After your friend completes all the steps, both you and your friend will receive your referral bonuses.

Terms & Conditions of the BMO Referral Program here.

How to Make a Referral

• Eligibility: The offer is available to BMO clients who receive an invitation from BMO to participate. Both referrer and referee must be the age of majority in their jurisdiction of residence.
• Referral Process:
  • Selected BMO clients (referrers) will be directed to a website where they input their name, and emailThe referrer can then provide the names and email addresses of the friends or family members they wish to refer to BMO.
  • Identified friends and family members (referees) will receive a personalized email inviting them to open a chequing account with BMO.
  • Upon account opening, the referee must revisit the personalized email to confirm the email address and the last 4-digits associated with the new chequing account.

Referee Reward Conditions

Both the referrer and the referee will receive a $50 digital e-gift card or e-promo card once the following conditions are met:

1. Open and Fund an Account: The referee must open and fund an eligible new Canadian Dollar Primary Chequing Account with one of the following plans: Premium, Performance, or Plus Plan. This must be done by June 30, 2024.
2. Confirm Details: The referee must confirm the email used to open the new account and the last 4-digits of the new account at the personalized URL provided in the referee invitation.

Once these actions are completed, both the referrer and the referee will receive a reward redemption email by July 31, 2024, or earlier. They will have 30 days to redeem their reward via the unique link provided in the email. Once redeemed, e-gift cards do not expire, but e-promo cards expire within 90 days of download. Additionally, it’s important to note that the new BMO chequing account may have a monthly maintenance fee, which can be waived under certain conditions, offering further savings and benefits to account holders.

Additional Information

Referral Limit: Referrers can refer up to ten friends or family members, earning up to a maximum of $500 in rewards.

Non-Transferable Codes: Referral codes are unique to each referee and are non-transferable.

Privacy: Referrers will not receive any confidential banking details of the referees but will know that the referee has successfully completed the reward conditions and opened an eligible account with BMO. Customers cannot open multiple checking accounts to receive multiple referral bonuses.

BMO Bank Bonus Promotion

For American customers, earn up to $600 for opening a new BMO Relationship Checking, BMO Smart Advantage Checking, BMO Smart Money Checking. BMO also offers business checking accounts with a checking account cash bonus for new account openings, catering to the needs of small business owners.

Here’s how:

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BMO $400 Checking Cash Bonus*

How To Earn The Bonus:

• Open a New Account: Choose between the BMO Smart Advantage Checking account or BMO Smart Money Checking account during the promotional period, from May 5, 2025 to September 8, 2025.
• Complete Qualifying Activities: Make sure you have at least $4,000 in qualifying direct deposits within the first 90 days to qualify for the $400 cash bonus*.
• Offer Availability: This promotion is available nationwide, so anyone in the U.S. can participate.

*Conditions apply and other offers may be available. Provided in the U.S. BMO Bank N.A. Member FDIC

Read additional details

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Final Thoughts

The BMO Referral Bonus program is an easy and beneficial way to earn rewards by referring friends and family to BMO. It’s a win-win situation where both the referrer and the referee benefit.

If you’re a Canadian BMO customer, take advantage of this offer before it ends on June 30, 2024. For U.S. customers, look to earn a much higher bonus with the latest BMO Bank promotion.

Additionally, customers can also benefit from growing their savings builder account balance, enhancing their opportunity to earn savings rewards.

Customers are limited to one checking account cash bonus and cannot open multiple checking accounts to receive multiple bonuses.

Frequently Asked Questions

1. How much can I earn through the BMO Referral Bonus? You can earn up to $600 if you successfully refer ten friends or family members.

2. How do I sign up for the referral program? Sign up on the BMO website through the referral program page.

3. Can I refer more than one person? Yes, you can refer multiple people and earn a bonus for each successful referral, up to ten referrals.

4. What does my friend need to do to qualify for the bonus? Your friend needs to open a new BMO chequing account and complete specific actions within the offer period.

5. When will I get my referral bonus? Bonuses are usually given out after your friend meets all the requirements. Timing can vary, so check the program details for more info.

Take advantage of the BMO Referral Bonus program and enjoy earning extra rewards while helping your friends and family discover the benefits of banking with BMO.

READ MORE: SEE MORE BMO BANK BONUSES HERE

READ MORE: SEE THE BEST BANK BONUSES HERE

By John Huynh, with over two decades in finance and investing, including as a Senior Finance & Operations Manager at a renowned research institute and degrees in Economics and International Studies from UC Irvine. Edited by Tony Jay, a seasoned finance blogger and Executive Editor with two decades in banking, specializing in online banking and savings strategies. Tony holds a doctorate from Tulane University.