BMO Harris Bank account review

Discover the Benefits of BMO Harris Bank Accounts

BMO Harris Bank N.A. is an American national bank headquartered in Chicago, Illinois. As a subsidiary of the Bank of Montreal, it offers a range of banking and financial services. With over 600 branches across the United States, BMO Harris Bank is a trusted institution for many individuals and businesses.

Under the ownership of Bank of Montreal, BMO Harris Bank has expanded its presence in the U.S. through acquisitions of other banks, such as Suburban Bancorp, Marshall & Ilsley, and Bank of the West. This growth has enabled BMO Harris Bank to offer a comprehensive suite of account options to its customers.

Smart Advantage Checking

The Smart Advantage Checking account offers a variety of benefits for account holders. With a $0 monthly maintenance fee and unlimited transactions at over 40,000 fee-free ATMs nationwide, this account provides convenience and accessibility. BMO Digital Banking allows you to easily manage your account and perform transactions online. Personalized support is also available through online chat, phone, and in-branch services. The minimum opening deposit for this account is $25.

There are a few fees associated with the Smart Advantage Checking account, such as $3 for non-BMO ATM transactions and $3 for paper statements. However, these fees are waived if any individual associated with your account is 65 years or older. You also have the option to go paperless for free statements.

Smart Money Checking

The Smart Money Checking account offers similar benefits to the Smart Advantage Checking account. The monthly maintenance fee for this account is $5 or $0 if you’re under 25. Some of the fees to be aware of include $3 for non-BMO ATM transactions and $2 for paper statements. However, these fees can be waived if you opt for paperless statements or if any individual associated with your account is 65 years or older.

Here are some additional benefits of the Smart Money Checking account:

• Free BMO and Allpoint® registered ATM transactions in the U.S.
• No overdraft fees
• Check images for $3 (you can opt out of check images or receive them for free with paperless statements)
• Minimum opening deposit of $25

Relationship Checking

If you’re looking for additional benefits and services, the Relationship Checking account might be the right choice for you. BMO offers Relationship Packages that provide extra perks based on your banking activity. The Relationship Silver package, for example, offers rewards for customers with a Quarterly Combined Balance less than $25,000. Some benefits of the Relationship Checking account include:

• Rebate on ATM surcharge fees charged by other banks, up to $25 per monthly statement period
• Unlimited transactions at Non-BMO ATMs
• Access to Mastercard ID Theft Protection® on your BMO Debit Mastercard
• Earn interest on your checking balance

In addition to these benefits, the Relationship Checking account also offers lending benefits. You can receive a $500 closing cost credit with Auto Pay on a BMO Relationship Checking account, as well as a 0.50% interest rate discount on a home equity loan with Auto Pay from a BMO checking account.

Savings Builder Account

BMO Harris Bank also offers a Savings Builder Account to help you achieve your financial goals. This account has no monthly maintenance charges and provides a bonus of $5 each month when you save $200 or more throughout the initial year. It’s a great tool to build your savings without any additional fees.

Requirements to Open an Account

To open a BMO Harris Bank account, you’ll need to provide the following information:

• Your phone number, email address, and U.S. residential address
• Your date of birth and Social Security Number (SSN)

In addition, a minimum deposit of $25 is required to open a checking account. There are no minimum balance requirements to earn interest on a savings account, but you’ll need to deposit a minimum of $25 to open an account.

How to Apply for a BMO Harris Bank Account

If you’re interested in opening a BMO Harris Bank account, the application process is simple. Follow these steps to get started:

1. Visit the BMO Harris Bank website.
2. Select the type of account you want to open (checking or savings).
3. Fill out the online application form with your personal information, including your name, address, and Social Security Number.
4. Review the terms and conditions, and agree to them.
5. Submit your application.

Once your application is submitted, BMO Harris Bank will review it and provide further instructions if needed. If approved, you’ll receive your account details and can start enjoying the benefits of banking with BMO Harris Bank.

Written by

Claire Harrison