When opening a checking or savings account, what are the features and benefits that you expect the most? BMO Harris Bank has been around for over 200 years making it a household name in the Midwest.
But does their history make it a worthwhile bank for you? To find out if BMO Harris Bank is right for you, continue reading this review below.
BMO Harris has more than 600 branches throughout the United States and as many as 43,000 fee-free ATMs available.
Like other banks, BMO Harris also offers a wide variety of accounts for you to choose from. Each account has different features ranging from basic accounts to those with advanced features and benefits, but with an added cost.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 CD Account Options
- 6 Compare CD Accounts
- 7 Reasons To Bank with BMO Harris
- 8 Reasons Not To Bank with BMO Harris
- 9 BMO Harris Bank Routing Number
- 10 Contact Customer Service
- 11 How BMO Harris Bank Compares
- 12 Compare to Other Banks
- 13 Bottom Line
Checking Account Options
BMO Harris offers several checking accounts that are flexible to various age groups. They are even generous enough to offer free checking for low-balance customers.
The basic BMO Harris checking account is best for students or young adults younger than 25 years old. That’s the only group that can have the $5 monthly maintenance fee waived.
BMO Harris doesn’t offer the ability to waive the fee with a specific balance or direct deposit like many other banks offer. This account doesn’t pay interest, and it doesn’t allow overdrafts.
This is one of their more popular accounts. As long as you opt for eStatements, you’ll have no monthly fees to pay for. Additionally, there’s no minimum balance to keep an eye out for.
As a tradeoff, though, your money doesn’t earn interest in this account. You do get unlimited BMO Harris ATM transactions, can make mobile deposits, and can manage your account from your PC and/or phone.
This is the only BMO Harris checking account that earns interest. In exchange for the tiered interest rates, though, you’ll pay a hefty monthly maintenance fee of $30.
You can waive the fee if you have at least $25,000 in the account on a monthly basis or you have a combined average of $50,000 in two BMO Harris accounts (with a Relationship Waiver).
Compare Checking Accounts
 • New Chase checking customers enjoy a $225 bonus when you open a Chase Total Checking® account and set up direct deposit • Access to 16,000 Chase ATMs and more than 4,700 branches • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device. • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. • Overdraft Services - no fee if you're overdrawn by $50 or less at the end of the business day* • *We charge a $34 Insufficient Funds Fee per item during our nightly processing beginning with the first item that overdraws your account balance by more than $50 (maximum of 3 fees per business day, up to $102). |
 • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities. • Open your new HSBC Premier checking account online by March 31, 2022; and • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening. • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple. Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC. |
 Open your Huntington 25 Checking account today and enjoy: • $300 bonus by making cumulative new money deposits of at least $25,000 within 60 days of account opening. $500 will be deposited in your new account within 14 days of meeting requirements. • 24-Hour Grace Overdraft Fee Relief. It is designed to give you more time to make a deposit in order to avoid an Overdraft Fee. • Earn Interest on Balances. 0.05% Annual Percentage Yield applies to all balance tiers. • Free ATM Withdrawals. They’ll waive all non-Huntington ATM cash withdrawal fees at any ATM and reimburse you for some withdrawal fees charged by another ATM owner. • Waived Monthly Maintenance Fee • Credit score and identity monitoring at no added cost |
Savings Account Options
BMO Harris has a small selection for savings and money market accounts, but still offers some benefits that might catch your attention.
To open this account, a $100 initial deposit is required. This account earns tiered interest rates, a $5 monthly fee that you can get waived, and unlimited in-person or ATM withdrawals, this account is the perfect way to save up money.
It also has an automatic money transfer feature to help maintain good money saving habits. In order to waive the $5 fee, you’ll need an average balance of $500 or have Auto Save set up with a minimum $25 deposit.
If you have more than $5,000 to put into a savings account, consider the Platinum Money Market account.
You’ll receive premium savings account interest rates with access to checks for times that you need to spend some of the money. The money market account also includes online and mobile banking.
Compare Savings Accounts
 With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn 0.40% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured |
 With the American Express® High Yield Savings Account: • Earn 0.50% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • 24/7 Account Access |
 Open a Discover Online Savings Account for all these features: • Bonus offer applies for your first Discover Online Savings Account • Earn $200/$150 Bonus with promo code HMB122 by 03/15/2022 • Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus • Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus • Earn high interest rate of 0.40% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 See advertiser website for full details |
 • Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account • No minimum balance requirements • Free ATM card upon request • $250 minimum opening deposit • Free Incoming Wires |
CD Account Options
Down below are how you can earn a higher interest rate by obtaining a CD account with BMO Harris Bank.
BMO Harris’s standard CD ranges from 30 to 60 months, and requires a $1,000 opening deposit. The interest you earn can automatically be reinvested.
With a minimum requirement of a $1,000 opening deposit, this Add-on CD allows for any additional deposits at your convenience.
The special CDs from BMO Harris offer higher interest rates, but you will need a minimum of $5,000 for an opening deposit.
Compare CD Accounts
 • Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 0.20% APY up to 1.00% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Start today with a minimum deposit of $2,500! • Get started and open a Discover CD in 3 easy steps. |
 • Available online nationwide • Earn 0.30% APY on a 12-Month CD Term • Earn up to 0.50% APY • $1,000 minimum to open • Selection of terms to meet your needs • A range of choices. Low minimum deposits. • No fees to open or maintain the account • Available as Custodial • Open a CIT Bank Certificate of Deposit Account today! |
With the CIT Bank No-Penalty 11-Month CD: • Earn 0.30% APY on your funds with just a $1,000 minimum deposit. • The perfect balance between a great fixed rate and flexible money access. • Access funds, if needed. No penalty. • No opening or maintenance fees • Shorter 11-month timeframe and a great APY • If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them. |
Reasons To Bank with BMO Harris
- You can link external accounts on the BMO Harris Banking app. This gives you the chance to see all of your accounts in one place. This may help you stay more organized and give you a better idea of your full financial picture.
- Gain access to more than 40,000 ATMs across the nation.
- You have a variety of CD maturity dates to choose from. If you want a standard CD, you can tie your money up for 3 months all the way up to 60 months. You also only need $1,000 to open a CD.
- You only need $25 to open any of the checking accounts at BMO Harris. This can make it easy to get an account established, especially if you are looking for a bank to send your direct deposit from your employer.
- Set Up Autosave to create good savings habits.
- You can set up Overdraft Funding if you have a BMO Harris checking and savings account. This can help you prevent going over the limit of your checking account and facing hefty fees. BMO Harris does charge $10 per fee/one transfer per day to cover your overdrafts, but it’s less than the $36 per overdraft they charge.
Reasons Not To Bank with BMO Harris
- If you like in-person banking, then you better hope you’re in one of the 8 available states.
- BMO Harris only has one savings account option. If you are in the market for a savings account with all of the bells and whistles, you won’t find it at BMO Harris. While they do have a Money Market Account that offers higher interest rates, you need a minimum of $5,000 to open the account.
- You may pay $50 if you close your account. BMO Harris charges this fee if you close your checking or savings account within the first 90 days of opening it.
BMO Harris Bank Routing Number
You can find your routing number on one of your BMO Harris checks in the bottom left hand corner.
Contact Customer Service
Reach BMO Harris Bank Customer Service at 1 (888) 340-2265.
In addition, you’re able to fill out an online Customer Service Request, but a response can to take between one and two business days.
How BMO Harris Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Wells Fargo:Wells Fargo is truly a national bank, with a presence in more than 39 states. They have a network of 13,000 ATMs and a variety of account options. Like BMO Harris, they offer interest-free checking accounts with easy ways to avoid the monthly maintenance fee. They also offer 24/7 phone customer service.
- Regions Bank: While the checking options are similar, there is a wider variety of savings, CDs, & IRA options to help you save. The cash back rewards program is also very similar. You can find Regions Bank across 15 states.
Compare to Other Banks
- BMO Harris Bank vs Wells Fargo
- BMO Harris Bank vs Bank of America
- BMO Harris Bank vs Chase
- Associated Bank vs BMO Harris Bank
Bottom Line
Choosing a bank that best suits your needs can be somewhat of a challenge. You’ll be investing time and money into these institutions and will need to make the right choice, so, be sure the bank or credit union will offer you what you need.
It’s very important to keep in mind the potential fees that may incur and how to avoid them if possible.
BMO Harris Bank is a full-service bank that offers a wide variety of accounts for their customers. If you’re in the Midwest region and like in-person banking, then this bank may be the perfect one for you.
However, if you don’t live in one of the 8 states and want in-person banking, then you should look elsewhere.
If you’re interested in banking with BMO Harris Bank, see our list of the latest BMO Harris Bank bonuses! For more options from a variety of banks, see our list of the best bank promotions!
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