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 March of 2021, it had grown to 10,436 employees at 553 locations. BMO Harris Bank has an A health rating.

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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

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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 !

Very Disappointed With BMO Harris Investments

I had a 401k with a previous employer that was rolled over to an IRA with BMO Harris after I left. Have been trying to get it routed over to where I have the rest of my investments for a few months and it's been an absolute nightmare. Lack of direction, confusing forms and poor customer service overall. I'm a pretty patient person, but after multiple calls and a lot of time wasted it's been super frustrating. Highly recommend taking your investment funds elsewhere and saving yourself the headache.

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Health

Health Grade Components

Overall
FDIC Certificate #16571
Year Established1947
Employees10436
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD9.35%
Annual Interest Income$944.1MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$159.2B$145.2B
LoansQ1 2021vs Q1 2020$84.65B$91.69B
DepositsQ1 2021vs Q1 2020$134B$117B
Equity CapitalQ1 2021vs Q1 2020$18.14B$17.45B
Loan Loss AllowanceQ1 2021vs Q1 2020$1.13B$933.3MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$988.1MM$1.00B
Real Estate OwnedQ1 2021vs Q1 2020$5.7MM$19.3MM
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
0.01%--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
0.01%--BMO Harris Premier Account
0.00%--BMO Harris Smart Advantage™ Account
0.00%-$25kBMO Harris Premier Silver Account
0.00%$25k$100kBMO Harris Premier Gold Account
0.00%$100k$250kBMO Harris Premier Platinum Account
0.00%$250k-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
0.10%$1k-36 Month 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

Minneapolis Area

Interactive local rates map


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