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Up to $200 Checking Account Bonus at BMO Harris Bank in Some States


BMO Harris Bank

BMO Harris Bank is offering a cash bonus of up to $200 for opening a personal checking account with qualifying direct deposit. Like most large banks, BMO Harris doesn't have a free checking account. So if you take advantage of this bonus, you'll have to be careful to avoid monthly service charges.

To qualify for the $200 bonus requires either the BMO Harris Portfolio Checking or the BMO Harris Select Checking. A $150 bonus requires the BMO Harris Everyday Checking.

Here's the link to the bank's promotion page:

The new checking account must be opened by March 31, 2013. Minimum opening deposit is $100. Below are the details about the direct deposit requirements:

In order to receive the incentive, you must establish a qualified direct deposit. A “qualified direct deposit” is a recurring direct deposit of a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into your new personal checking account on a recurring basis, at least monthly, from an employer or an outside agency. In order to qualify for the cash bonus, each direct deposit must be in an amount of $300 or more and the deposits must occur within 60 days of account opening.

Below are additional important details from the offer's small print:

Offer not available to existing BMO Harris checking customers or those who have closed an account within the past 60 days or closed an account with a negative balance. You may receive only one BMO Harris checking account-related incentive, reward or bonus per calendar year per household (all persons living at the same address at account opening).
Checking account must remain open for a minimum of 6 months or the incentive will be debited from the account at closing. The incentive is not considered part of the opening deposit and will be reported as interest income on IRS form 1099-INT. You are responsible for any applicable taxes.

As you might expect, the Everyday Checking is the easiest to have the $7 monthly fee waived. This can be done with either an average daily balance of $1,000 or a single incoming external deposit of $500 or more. Refer to the bank's Everyday Checking page to see all the ways to have the fees waived.

The Portfolio Checking and the Select Checking have a $15 monthly fee, and it's harder to have this waived. One way to have the fee for the Select Checking waived is by maintaining an average daily balance of $5,000 or more. Refer to the bank's Select Checking page for more details.


According to the offer's small print:

Offer valid for accounts opened at a BMO Harris location in Minnesota (excluding locations in St. Louis County), Pierce and St. Croix Counties in Wisconsin, Missouri (excluding locations in Jackson, Buchanan and Clay Counties), and our locations in St. Clair County in Illinois.

If you don't live in these areas of MN, WI, MO or IL and you're still interested in this bonus, you may want to check with your local BMO Harris branch to see if there's any chance they will let you participate.

Overview of BMO Harris Bank

BMO Harris Bank N.A. used to have the name Harris National Association. The name change took effect in 2011. In 2012, BMO Harris Bank acquired M&I National Trust Company.

BMO Harris Bank has over 600 branches in Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Nevada, Florida and Wisconsin.

It's a large bank with assets of over $91 billion.

The bank has an overall health score at of 3 stars (out of 5) with a Texas ratio of 16.11% based on September 2012 data. Please refer to our financial overview of BMA Harris Bank N.A. for more details. The bank has been a FDIC member since 1947 (FDIC Certificate # 16571).

Other Bank and Credit Union Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and readers often post on bonuses in the checking account deals forum.

  Tags: BMO Harris Bank, checking account, Missouri, Illinois, Minnesota, Wisconsin

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Comment #1 by HMB (anonymous) posted on
Portfolio Checking has $25 monthly fee.

Comment #2 by Anonymous posted on
Please take this article down. the offer has expired and this information is out of date.