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Open BMO Bank Account Online - Bank Of Montreal Sign Up top.mortgagebrokerscalgary.infoWhat's the difference between chequing and savings accounts? Quite a lot. Find out why you need both and how they make it easier to manage your money. Cons Explained � High balances required to earn interest. Although you can open a savings account with just $25, the account earns an absurdly small interest. $5/month maintenance fee (waived if you're under age 25) � No overdraft fees (items that overdraw the account may be returned). � Unlimited, fee-.