BMO Alto

Deposits held and insured by BMO

Overview / Commentary
111 West Monroe Street
Chicago, IL 60603
Deposits held and insured by BMO

Related Posts

BMO Alto Hikes Rates of Long-Term CDs to Market-Leading Levels - 11/7/2023

After rate increases this week, BMO Alto's 60-month and 48-month Online CDs now have market-leading rates. There is no minimum deposit.

Top Long-Term Online CD Rates From BMO Alto - 11/6/2023

Finally, a large bank is offering 5-year and 4-year direct CD rates above 5%. BMO’s online division, BMO Alto, just came out with market-leading rates on two long-term CDs: 60-month Online CD: 5.25% APY 48-month Online CD: 5.20% APY Its shorter-term CD rates may not be market-leading, but they’re competitive: 36-month Online CD: 5.10% APY 24-month Online CD: 5.00% APY 12-month Online CD: 5.65% APY 6-month Online CD: 5.50% APY I plan to publish more info on these CDs soon. I included many details on BMO Alto and its Online CDs in this September blog post.

Review of BMO Alto Online Savings Account and Online CDs - 9/23/2023

BMO Bank N.A. launched an online bank division called BMO Alto which offers an online savings account and online CDs with terms from six months to 60 months.

Account Opening

Posted by: |

Just opened a new 5.25% 5 year CD account with BMO ALTO over the weekend and all in all was easy enough to open had no problems , money was pulled from checking account this morning to fund account so everything went well..
I had read all the bad reviews but decided to try anyways since it was such a good rate and things were easy to do no hurrdles to jump through was fairly easy to set up just 1 thing to mention even tho I set up account on the 10th and original maturity date was set at 11-10-28 the maturity date was moved to 11-13-28 to give the full 5 year term from the funding date which was today the 13th..
So all I can add is for me at least everything was very simple and easy to do to set this account up and fund it .......

Easy And Fast

Posted by: |

opened a 12 mo. CD was very smooth operation. ACH complete in just a few days. In order to add a beneficiary you have to call the 855 number. When I called I was 9the 5th person in line. recording says it will call you back if you do not want to wait.


Posted by: |

Imagine an online bank where,,,,
...there is no "chat" help for quick questions
...there is a total of 10 phone representatives and multi-hour waits to get connected to one
...its FAQ has only two questions despite the myriad problems and illogic of the website
...there is no way to check rates while logged into the website
...there is no way to fund a CD while logged into the website (you have to set it up as a new customer)

This is just a sampling of some of the issues. It's like (bad) summer interns who never had a bank account designed this website and then left, and now no one knows what to do. It isn't even a Beta version of a website, much less something that should be launched to the general public. If so little care was put into making the website remotely functional, how much care was put into its security?! The board of directors of BMO Alto should be summarily dismissed because this can't be good for BMO's reputation.

Horrific Acc Hacked Money Frozen No Help

I opened an online saving accounts because the interest rate was so high. Huge mistake. I put in $60K, two weeks later, I received an email that my account was locked and frozen because fraud was detected. Then 3 more emails that someone tried to wire $10K out of my account, three times. I called the customer service 1-855-266-8100 and they offered no help, directed me to call their Fraud Dept. 1-877-472-4347. I called over a hundred times at different times of the day and week. No one from the Fraud Dept. answers the phone, left two voicemails, and now the voicemail box is full and not accepting voicemails. It has been over 2 weeks, and nothing has been resolved. My account is still completely locked out. The customer service can't even close my account. Do not do it. Not worth it.



Data as of Q2 2023

Data displayed below is for insuring bank: BMO
Learn why bank health matters

Health Grade Components

FDIC Certificate #16571
Year Established1947
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.07%
Return on Equity - YTD-0.56%
Annual Interest Income$5.99B
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$263.3B$163.2B
LoansQ2 2023vs Q2 2022$154.3B$93.19B
DepositsQ2 2023vs Q2 2022$202.2B$133.3B
Equity CapitalQ2 2023vs Q2 2022$31.98B$15.40B
Loan Loss AllowanceQ2 2023vs Q2 2022$2.37B$779.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$996.8MM$476.4MM
Real Estate OwnedQ2 2023vs Q2 2022$15.9MM$5.2MM
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BMO Alto Savings Account Rates

5.10%--Online Savings Account

BMO Alto CD Rates

5.65%--12 Month Online CD
5.50%--6 Month Online CD
5.25%--60 Month Online CD
5.20%--48 Month Online CD
5.10%--36 Month Online CD
5.00%--24 Month Online CD

BMO Alto is an Internet only bank and does not have branch locations. Its headquarters is located at 111 West Monroe Street - Chicago, IL 60603

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.