BMO Harris Bank


Overview / Commentary
312-461-2323
111 West Monroe Street
Chicago, IL 60603

BMO Harris Bank is headquartered in Chicago and is the 2nd largest bank in the state of Illinois. It is also the 21st largest bank in the nation. It was established in 1947 and as of December of 2020, it had grown to 10,409 employees at 553 locations. BMO Harris Bank has an A health rating.

Related Posts

MM Big Drop From .95 To .75% APY - 8/26/2020

https://www.bmoharris.com/main/personal/MM2/

BMO Harris Platinum Money Market Drops To 0.95% - 7/25/2020

Another rate cute... this time to to 0.95%

BMO Harris Platinum Money Market Drops To 1.10% - 7/7/2020

Looks like the rate has been cut again to 1.10%

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Good customer service

Harris bank has good customer service but is lacking in products and fees. They had a good partnership with local elementary schools to help kids start saving. This was great as it gave the community a jump start and showed that they cared. I am happy I got a chance to know the local tellers and start my understanding of savings with them.

Rates May Not Be As Shown

Be careful with BMO Harris, They are trying to attract new money from outside their normal market areas. If you are in an area that has local branches, the rate is much lower.

There Are BETTER Banks To Do Business With

Posted by: |

In the first week of account opening, BMO Harris froze my account claiming they couldn’t verify my identity. This prevented me from making deposits and withdrawals for a number of days until the matter was finally resolved after numerous calls. Also, external transfers take days to post to your BMO Harris account even though the funds are deducted immediately from your transferring bank. Investors are losing interest income during these
posting delays while BMO benefits from having the use of your money -other banks are much quicker. I will be closing my account with BMO and doing business elsewhere !

Poor Customer Service - Fraud

Posted by: |

I opened checking account on-line. Simple/easy process. I had to have dealings with the branch (Channahon, IL) afterward. Terrible customer service from the bankers. Tellers were friendly and helpful. I had an instance of check fraud on my account. They did not find it, I did. I immediately changed my account log in credentials, and called customer service phone number. They do not have a direct fraud line, like another bank I was with. Customer service could not get in touch with the fraud dept. and advised I go to the branch. The banker at the branch could not get a hold of the fraud dept. either. I had to wait a day. Called branch in morning and was told my account would be frozen - ok good. I never did get to speak with anyone from fraud about what happened or give information on the investigation. They kept the account open for my direct deposit to go in. When I went into the branch to close the account, I was just going to open another. I was told i could not open another account with them and that I was a risk. Hmmm....I was the one who reported the potential fraud (turned out to be fraud), went to the branch to alert them and be guided on what to do, filed a police and FTC report. I was the victim and was treated like I was the criminal.

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Health

Health Grade Components

Overall
FDIC Certificate #16571
Year Established1947
Employees10409
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD5.28%
Annual Interest Income$4.06B
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$154.3B$137.6B
LoansQ4 2020vs Q4 2019$86.18B$86.88B
DepositsQ4 2020vs Q4 2019$128.9B$111B
Equity CapitalQ4 2020vs Q4 2019$18.12B$16.66B
Loan Loss AllowanceQ4 2020vs Q4 2019$1.19B$832.5MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.12B$973.8MM
Real Estate OwnedQ4 2020vs Q4 2019$12.7MM$22.0MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not BMO Harris 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 Harris Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*-Health Savings Account
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $50k
0.03%--Statement Savings

BMO Harris Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Premier Money Market

BMO Harris Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%*$5k*-BMO Harris Premier Account
OTHER TIERS: 0.01% Up to $5k
0.00%--BMO Harris Smart Advantage™ Account
0.00%--BMO Harris Premier Silver Account
0.00%--BMO Harris Premier Gold Account
0.00%--BMO Harris Premier Platinum Account
0.00%--BMO Harris Premier Platinum Elite Account

BMO Harris Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1k-60 Month CD
0.15%$1k-48 Month CD
0.15%$5k-4 Year Bump Rate CD
0.10%$1k-36 Month CD
0.10%$5k-3 Year Bump Rate CD
0.05%$1k-3 Month CD
0.05%$1k-6 Month CD
0.05%$1k-9 Month CD
0.05%$1k-12 Month CD
0.05%$1k-18 Month CD
0.05%$1k-24 Month CD
0.05%$1k-30 Month CD
0.05%$100k-1 Month CD
0.05%$100k-2 Month CD

BMO Harris Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1k-60 Month IRA
0.15%$1k-48 Month IRA
0.10%$1k-36 Month IRA
0.05%$1k-3 Month IRA
0.05%$1k-6 Month IRA
0.05%$1k-9 Month IRA
0.05%$1k-12 Month IRA
0.05%$1k-18 Month IRA
0.05%$1k-24 Month IRA
0.05%$1k-30 Month IRA
Locations

Availability

Chicago Area

Interactive local rates map


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