Available nationwide, BMO Harris Bank Platinum Money Market is offering a staggering 0.60% APY Rate. Continue reading below to learn everything you need to know about BMO Harris Bank.
About BMO Harris Bank Platinum Money Market
Established in 1947, BMO Harris has over 600 locations throughout Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota and Wisconsin. They are the 2nd largest bank in the State of Illinois where they are headquartered (Chicago).
Being an online account, they can offer one of the highest rates! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
I’ll review BMO Harris Bank account below.
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BMO Harris Bank Platinum Money Market High Rate
- Account Type: Platinum Money Market Account
- Interest Rate: 0.60% APY
- Minimum Balance: $5,000
- Maximum Balance: None Listed
- Availability: Nationwide (Branch Locator)
- Credit Inquiry: Soft Pull
- Opening Deposit: $5,000
- Credit Card Funding: None
- Monthly Fee: None
- Early Termination Fee: Unknown
(FDIC Insured)
BMO Harris Bank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | None |
| Pull | ? | ? | ? | None |
Editor’s Note: Help us with the table above in the comment section if you have experience with BMO Harris Bank’s ACH capabilities.
How to Earn BMO Harris Bank Rate
- Open a Platinum Money Market account from BMO Harris Bank with an opening deposit of $5,000.
- Maintain a $5,000 balance amount and earn the 0.60% APY rate.
| Balance Requirement | APY Rate |
| $5,000 – $999,999.99 | 0.60% APY |
| $1,000,000 or more | 0.40% APY |
Why You Should Sign Up For This Account
- Interest is compounded daily
- FDIC insured up to $250,000
- Only $5,000 minimum to open
Bottom Line
Check out BMO Harris Bank and open a Platinum Money Market account this amazing rate! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on BMO Harris Bank Account.
I opened my account on June 30th to take advantage of the 1.25% rate and initiated the account funding same day. It takes 3 days for funds to clear, so I checked my account on June 3rd and funds were in my account but the rate had already dropped to 1.10%. I was still going to transfer additional funds but they limit external transfers to $5k per day and $25k per month. I should have read the fine print ;-(
The BMO rate of 2.35 is NOT NATIONWIDE as stated….. only selected states ( zip codes ) . Even though I have a BMO branch 15 miles from my residence, it is only 1.70 rate …..
The BMO Harris Platinum Money Market should only be used if you never want your money back. The daily limit for push ACH is only $5,000. But this isn’t even a “daily” limit, it is a limit for every 3 business days (until any outstanding transfer has cleared). So, in actuality, the withdrawal limit is $5,000 per week since you can’t initiate a new transfer until 3 days after you initiated your first one. BMO’s advice – pay $30 for a wire transfer. Basically, they are offering the high rate to do 2 things – grab fees and trap deposits. If you ever need to move your money back and forth from a checking account which isn’t at BMO, please take my advice and stay far away from this bank. Their disclosures are so vague that you will have no idea what limitations they will impose.
Do you receive a debit card with the platinum money market account?
No you can not link a debit card to BMO money market accounts, but you CAN write checks off of it.
Scott, if I just want to use this account for strictly saving let’s say 50k for example , is it a good account and institution for this or do you recommend another higher savings investment and elsewhere, thanks, Ron ?