BMO Bank

Overview / Commentary

www.bmo.com

312-461-2323

111 West Monroe Street
Chicago, IL 60603

BMO Bank is headquartered in CHICAGO and is the largest bank in the state of Illinois. It is also the 14^th largest bank in the nation. It was established in 1947 and as of June of 2024, it had grown to 17,512 employees at 1,041 locations. BMO Bank's money market rates are 2X the national average, and it has an A health rating.

BMO Harris $300/$500/$1,000 Business Checking Bonus - 3/14/2024

It is Nationwide via online application. No ChexSystems... at least in my case, I used EIN as Business Tax ID. The Promotion is a type of "clever" trap, there is a Average Collected Balance requirement that could not be satisfied with stated $$$ minimum. Expect to be doing heavy calculation and maintain at least double of stated $$$ minimum balance for at least a day or longer. After all, from the basis of 5% on $30K the Bonus will net about $600. IGR doesn't do conversion of one time bonus into APY and doesn't welcome equivalent Rate calculations! The opening process was pretty entertaining. Right after "Submit" got the message displayed...something like...we are reviewing your application. Next day email "Action Required!" arrived from noreply@bmo requesting the submission of proof of the incorporation(for sole proprietorship under my legal name as it was) and Letter of Good Standing from "Secretary of State"(had to guess not from Blinken). Called them, interested why BMO insists

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2024
2023
2022
Earlier

3/14 - BMO Harris $300/$500/$1,000 Business Checking Bonus

7/5 - BMO $300 Bonus Is A Foul Play
2/13 - BMO Offers Competitive Online Savings Account and CD Rates
1/14 - BMO Harris (Check Your Zip Code)

12/12 - BMO Harris Bank Offers 4.00% APY Online Savings Account
6/24 - 7Yr CD To Yield 4.00%

8/26/20 - MM Big Drop From .95 To .75% APY
7/25/20 - BMO Harris Platinum Money Market Drops To 0.95%
7/7/20 - BMO Harris Platinum Money Market Drops To 1.10%
6/19/20 - Another BMO Harris MM Rate Cut
6/10/20 - BMO Harris mm Drops To 1.35%
5/1/20 - BMO Harris Savings Drops To 1.65% APY
4/8/20 - BMO Harris Bank MM 1.75% APY, $5,000 Min
10/29/18 - BMO Harris Ups 60-Month Special CD Rate
3/25/18 - 3% 5 Year CD As Of March 25
2/26/18 - BMO Harris Bank Has A Special Rate 60-Month CD
1/29/18 - 2% 18 Month CD At BMO Harris Bank
12/1/17 - BMO Harris Bank Offers Long-Term "Step Rate" CDs
7/3/17 - BMO Harris Bank Adds CD Specials (Checking Relationship)
5/10/17 - BMO Harris Bank's $200 Checking Bonus Available Nationwide
3/2/17 - Earn $200 Checking Bonus At BMO Harris Bank
2/28/17 - $200 Checking Bonus From BMO Harris Bank
2/21/17 - BMO Harris Bank Adds Three Relationship CD Specials
11/15/16 - Special 2% 59-Month CD And $50 Checking Bonus At BMO Harris
7/31/15 - BMO Harris Bank Promotes New Checking $200 Cash Bonus
6/19/14 - Up to $200 Checking Account Bonus at BMO Harris Bank
3/11/13 - Up to $200 Checking Account Bonus at BMO Harris Bank in Some States
11/11/09 - $150 Checking Account Bonus at Harris Bank
9/1/09 - $150 Checking Account Bonus at Southwest Bank in Missouri - Local Only
3/13/09 - 3.00% 10-Month CD & 3.75% 39-Month CD at AMCORE Bank in IL & WI
1/20/09 - 4.00% 39-Month CD and 3.50% 10-Month CD at Amcore Bank in IL and WI
10/24/08 - 4.50% 7-Month / 5.10% 60-Month CD at Harris Bank
7/19/08 - 5.00% 39-Month / 4.00% 19-Month CD at an IL/WI Bank (Amcore)
5/24/08 - 4.70% 60-Month / 3.60% 20-Month CD at M&I Bank
4/20/08 - 4.50% 60-Month CD at M&I Bank
1/9/06 - CD Specials (5% 13-mo) at an Indiana Bank

Reviews (134)

BEST CREDIT REPAIR SERVICES

Posted by: ninawilliams41 | Jun 1, 2024

My name is Nina Williams, and I am divorced. I have three kids with my ex-husband, who messed up my credit report before we got divorced. This made my life with my kids a living hell, and I felt frustrated. However, I met a friend in church who recommended H A C K M A V E N S CREDIT SPECIALIST. I contacted them, and within 7 days, they fixed my credit and increased my score from 515 to 785. Now, I can take loans, own a house, and run a business. If you have any credit-related issues, you can reach out to them via EMAIL: H A C K M A V E N S 5 @ G M A I L. C O M or Call/Text/Whats-App: .

Comment

Bmo Morons

Posted by: Rheinda | Mar 18, 2024

Complete douchbags utterly incompetent

Comment

Worts Customer Service

Posted by: Kennyb | May 24, 2024

I have used banks for 45+ years and never had I received such poor care. Phone system does not direct you to correct department even though number is on payment slip. When you do contact them they ask to many questions, and barely understand them Will never bank here again and will warn friends.

Comment

I'm So Excited That My Husband And I Are Back Again

Posted by: FayBrett | May 28, 2024

hello every one my name is Fay Brett I'm from USA North Carolina.

Comment

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Health

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	16571
Year Established	1947
Employees	17512
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.8%
Return on Equity - YTD	6.35%
Annual Interest Income	$6.81B

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$262B$263.4B
Loans	Q2 2024vs Q2 2023	$146.3B$154.4B
Deposits	Q2 2024vs Q2 2023	$206.8B$202.2B
Equity Capital	Q2 2024vs Q2 2023	$33.22B$32.06B
Loan Loss Allowance	Q2 2024vs Q2 2023	$2.31B$2.25B
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$1.66B$996.8MM
Real Estate Owned	Q2 2024vs Q2 2023	$35MM$15.9MM

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not BMO Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

BMO Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.03%^†	$0	-	IRA Premium Savers
0.01%^†	$0	-	Savings Builder

BMO Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
3.56%^†	$250k	-	Relationship Plus Money Market - Premier Package
3.04%^†	$100k	$250k	Relationship Plus Money Market - Platinum Package
2.02%^†	$25k	$100k	Relationship Plus Money Market - Gold Package
1.00%^†	$0	$25k	Relationship Plus Money Market - Silver Package

BMO Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.01%^†	$0	-	BMO Relationship Checking
0.01%^†	$0	-	BMO Relationship Checking - Silver (<25k combined balance)
0.01%^†	$0	-	BMO Relationship Checking - Gold (25k-<100k combined balance)
0.01%^†	$0	-	BMO Relationship Checking - Platinum (100k-<250k combined balance)
0.01%^†	$0	-	BMO Relationship Checking - Premier (250k+ combined balance)

BMO Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.50%^†	$1k	-	13 Month CD Special
4.00%^†	$1k	-	59 Month CD Special
4.00%^†	$1k	-	35 Month CD Special
4.00%^†	$1k	-	25 Month CD Special
4.00%^†	$1k	-	45 Month CD Special
2.00%^†	$1k	-	12 Month CD
1.70%^†	$1k	-	18 Month CD
1.50%^†	$1k	-	24 Month CD
1.40%^†	$1k	-	30 Month CD
1.35%^†	$1k	-	36 Month CD
1.35%^†	$1k	-	48 Month CD
1.35%^†	$1k	-	60 Month CD
0.05%^†	$1k	-	3 Month CD
0.05%^†	$1k	-	6 Month CD
0.05%^†	$1k	-	9 Month CD
0.05%^†	$100k	-	1 Month CD
0.05%^†	$100k	-	2 Month CD

BMO Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%^†	$1k	-	12 Month IRA
1.70%^†	$1k	-	18 Month IRA
1.50%^†	$1k	-	24 Month IRA
1.40%^†	$1k	-	30 Month IRA
1.35%^†	$1k	-	36 Month IRA
1.35%^†	$1k	-	48 Month IRA
1.35%^†	$1k	-	60 Month IRA
0.05%^†	$1k	-	3 Month IRA
0.05%^†	$1k	-	6 Month IRA
0.05%^†	$1k	-	9 Month IRA