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BMO Bank Checking Accounts Review

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BMO Harris Bank is a regional bank that mostly operates in the Midwest. It's headquartered in Chicago and has been in business since 1907. The bank currently offers checking, savings, money market, and CD accounts as well as retirement accounts, mortgages, credit cards, and other loans.
 
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How is BMO Bank rated?

Breakdown

4.8/5
Account Features
4.8/5
Fees and Restrictions
4.8/5
Support, Reputation, and Financials

Overall Rating: 4.8 / 5 (Excellent)

BMO Harris Bank's checking accounts have definite appeal to a broad range of customers, thanks to its reasonable fees and rare perks, like no overdraft fees and out-of-network ATM fee reimbursements on certain accounts. It still has monthly maintenance fees, but this is to be expected when you're working with a brick-and-mortar bank. If you live in one of the states it serves, BMO Harris Bank is worth a closer look.

BMO Bank Account Features

Account Features - 4.8 / 5

BMO Harris offers three checking accounts targeted at different audiences. Its BMO Harris Smart Advantage Account is its most popular. It's also the most affordable, charging no monthly fees to customers who enroll in paperless statements. The next step up is the BMO Harris Smart Money Account. This has a waivable monthly fee for adults under 25 and charges no overdraft or nonsufficient funds fees. The BMO Harris Premier account is the bank's only interest-bearing checking account. It includes unlimited out-of-network ATM fee reimbursements in addition to the bank's large network of fee-free ATMs. Its monthly maintenance fee is high, but it is waivable to customers who meet certain criteria.
Types of Checking Accounts
Free Checking Accounts
Online Checking Accounts
Joint Checking Accounts
Business Checking Accounts
Methods of Deposits
Mail Check
ATM Deposit
Mobile Check Deposit
Physical Branch
Wire Transfer
Online Transfer
Direct Deposit
Integration with Other Online Accounts
Savings
Retirement Accounts
External Banks
Loan Accounts
No-Fee ATM
No-Fee at Branded ATMs
No-Fee at Network ATMs
ATM Locations
You can withdraw cash fee-free at over 40,000 BMO Harris and Allpoint ATMs nationwide.
Branch Offices
BMO Harris has over 500 branches in Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida and Wisconsin.

Interest (APY)

0.00% to 0.05%

Overdraft Protection

BMO Harris Bank offers two types of overdraft protection. Overdraft funding automatically transfers money to your checking account from a linked savings account. You can also sign up for an overdraft line of credit. Each overdraft will cost you $36 if you overdraw your account by more than $5 and you'll pay a $7 fee for each consecutive day your account remains overdrawn. There's a maximum of 10 consecutive day fees. The BMO Harris Smart Money Account does not charge for overdrafts.
Integration with Mobile Payment Services
Zelle
Card Blocking
No
Pay Bills Online
Yes
EMV Chip Technology
Yes
Bank Checks
Yes
Mobile App
Yes

BMO Bank Fees and Restrictions

Fees and Restrictions - 4.8 / 5

Most of the fees BMO Harris charges are pretty standard for brick-and-mortar banks. It's somewhat unusual in that it offers accounts with no monthly maintenance fees and accounts that don't charge overdraft fees. These are usually more common with online banks. None of its accounts have hard minimum balance requirements, though you may have to maintain a certain minimum balance to avoid maintenance fees.
Maintenance Fee
$0, $5 or $25
Other Fees
Early Account Closure
Paper Statements
Legal Fees
Replacement Card Fee
Expedited Delivery for Replacement Card Fee
Check Reorder Fee
Stop Payment Fee
Insufficient Funds Fee
Deposited Item Returned Fee

BMO Bank Support, Reputation, and Financials

Support, Reputation, and Financials - 4.8 / 5

BMO Harris has been around for over 100 years, and yet, despite its long history, it's received surprisingly few complaints from customers. Banks are frequently the target of negative reviews on the Better Business Bureau and Consumer Financial Protection Bureau websites, and while BMO Harris has also received its share, its numbers seem low when compared to large national banks. The bank also maintains an A+ rating with the Better Business Bureau, suggesting that it's pretty good about promptly resolving customer complaints when they arise.
BBB Rating
A+
BBB Total Complaints
220
BBB Resolved Complaints
63
Consumer Financial Protection Board (CFPB) Complaints
753
Date Collected
2020-09-10
Year Founded
1907

Contact Methods

  • Phone
  • Email
  • Social Media

Company Profile

Full Name
BMO Bank Checking Accounts
Company Website
https://www.bmoharris.com/
Headquarters
111 W. Monroe St., Chicago, IL, 60603

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Customer Comments & Reviews

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W
Wayne S
11/19/2020
Let me start by saying this is a ZERO STAR review. I've been a loyal customer of this bank in Prescott, Arizona for many years. I got no notification whatsoever in the mail about my grandfathered checking account and it's minimum balance being raised from $1,000 to $1,500. As I don't check the account that often as it's a P.O.D account, needless to say for 10 months straight these thieves stole $12 a month of my hard-earned money from me. Absolute thievery period. At the time of this writing I've already filed a complaint with the Attorney General of Illinois and also the Better Business Bureau of Chicago. There's been zero response from the BMO Harris headquarters. I... Read More

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