Based in Chicago, IL, BMO Bank is the 8th largest bank by assets and currently serves over 13 million customers.
Previously known as BMO Harris Bank, BMO has over 1,000 branch locations across the United States, but their accounts are available nationwide. Even though BMO might not have the same brand recognition as other banks, BMO promotions are worth checking out.
There are currently three BMO checking account promotions, one for the savings builder account and another for the BMO business checking account.
BMO Smart Advantage Checking – $250 + $100 cash bonus
Through October 31, 2024, you can sign up for a BMO Smart Advantage checking account and earn a $250 cash bonus once you set up a total of $4,000 in qualifying direct deposits within 90 days of opening your account.
Plus, you can receive a $100 digital gift card when you meet with a BMO banker to discuss your financial goals after opening your account online.
There is a $25 minimum opening balance, but they charge no monthly maintenance fees for this account.
BMO Smart Money Checking – $250 cash bonus
Through October 31, 2024, you can open a BMO Smart Money checking account and earn a $250 account opening bonus. To qualify for the bonus, you must establish qualifying direct deposits of at least $4,000 within the first 90 days.
Plus, you can receive a $100 digital gift card when you meet with a BMO banker to discuss your financial goals after opening your account online.
The BMO Smart Money Checking account has no minimum balance requirements, no overdraft fees, and no monthly maintenance fee for anyone under 25 years old.
BMO Relationship Checking Account – $500 cash bonus
Through October 31, 2024, you can open a new BMO Relationship checking account and earn a $500 cash bonus. To qualify, you must set up $7,500 or more in qualifying direct deposits within the first 90 days.
Plus, you can receive a $100 digital gift card when you meet with a BMO banker to discuss your financial goals after opening your account online.
The BMO Relationship checking does have a waivable $25 monthly maintenance fee. To have this fee waived, you must do one of the following:
- The minimum daily account balance for the previous calendar month must have been $10,000 or more.
- You have a monthly combined balance of at least $25,000 for the previous calendar month.
- You’re a client of our employee benefits program, Best of BMO U.S., and have requested a waiver from your BMO Banker.
BMO Savings Builder Account – up to $60 cash bonus
When you sign up for a BMO Savings Builder account, you can earn a $5 cash bonus, each month you save $200 or more. This is valid for the first year after opening your account.
There is a $25 minimum account opening deposit but no monthly maintenance fees.
BMO Business Checking Account – up to $750 cash bonus
If you’re a small business owner, you can sign up for one of several BMO business checking accounts and earn up to a $750 account opening bonus.
The amount of your bonus will depend on your average collected balance.
- Earn a $350 Bonus – Within 30 days of opening your new account, your account balance must be between $4,000 and $24,999.99. Plus, you must maintain a balance of at least $4,000 for days 31-90.
- Earn a $750 Bonus – Within 30 days of opening your new account, your account balance must be between at least $25,000. Plus, you must maintain a balance of at least $25,000 for days 31-90.
BMO has four different business checking accounts that qualify for this bonus. More about each of these accounts is below.
- BMO Simple Business Checking: You’ll receive up to 100 free transactions per statement cycle. The $10 monthly maintenance fee can be waived with an average collected balance of $100.
- BMO Premium Business Checking: You’ll receive up to 200 free transactions per statement cycle. The $15 monthly maintenance fee can be waived with an average collected balance of $1,500.
- BMO Elite Business Checking – You’ll receive up to 500 free transactions per statement cycle. The $25 monthly maintenance fee can be waived with an average monthly collected balance of $10,000 or $25,000.
- BMO Digital Business Checking – You’ll receive an unlimited number of income ACH transactions per statement cycle. The $10 monthly maintenance fee can be waived with an average collected balance of $500.
How do BMO Bank promotions compare to others?
BMO has some of the best bank promotions available today. However, to be sure you’re signing up for a new account that meets your needs, I recommend you compare it to some alternatives.
