Bank of Montreal has introduced a new everyday banking plan that can deliver significant savings to customers who conduct a high number of transactions and use more than one BMO account.

BMO’s Performance Plan allows customers to conduct an unlimited number of transactions from any number of personal accounts, such as chequing, savings and joint accounts, for one low fee of $13.95 a month. BMO said it is the only bank to offer a banking package that captures the transactions of all personal accounts under one plan fee.

“BMO’s Performance Plan is ideal for customers who hold several personal and/or joint accounts and use them for frequent transactions like paying bills, transferring funds, debit card purchases and using the BMO ABM network to make deposits and withdrawals,” said Cid Palacio, vp, banking products, BMO, in a news release.

“Our customers like the idea of having separate accounts for separate financial purposes but they also want the ability to link all their banking accounts and not be charged extra for them,” noted Palacio.

In addition to announcing the new plan, BMO Montreal continues to be the only bank to offer students free banking.

Under BMO’s new banking plan discount programs, youth, young adults and students can receive free banking with the Bank’s Plus Plan or they can apply a monthly discount of $8.50 to the banking plan of their choice. This discount is now $3 more than their current plan discount.

Furthermore, these changes will allow seniors, aged 60 or older, to receive the new Performance Plan for free.