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 largest bank in the state of Illinois. It is also the 22nd largest bank in the nation. It was established in 1947 and as of June of 2019, it had grown to 11,456 employees at 598 locations. BMO Harris Bank's money market rates are 5X the national average, and it has an A health rating.

Related Posts

BMO Harris Ups 60-Month Special CD Rate - 10/29/2018

BMO Harris Bank (AZ/FL/IL/IN/KS/MN/MO/WI) has raised the rate on its 60-month Special Rate CD to 3.50% APY. Minimum opening deposit is $5k.

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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.

Did not feel the love...

Posted by: Jenzz | Nov 16, 2016

We have dealt with BMO for many years. A few years ago we had the unfortunate opportunity to find out that accounts will now be charged for inactivity. What a sham! It is my money, seriously, how hard is it to let it sit?! Any time I have to go into my local bank for help with my savings or checking, I might find that I have to wait a number of hours or even days for attention. It also bothers me that the savings account rates are so low. Each time I visit the bank, the staff tries to "sell" me on the idea of opening another account to get better interest rates. When I see the low interest rates, I can see t is not worth my time. The low rates are discouraging, and while they are the norm, there was a time BMO led the banks with great rates.

Online Banking Is Down Again

Posted by: Shay | Feb 2, 2019

Losing faith with the online banking feature. It's down for maintenance again tonight. I've never had a problem with Ally.

25 1 Star Reviews

It is the decision of each person whether the BMO current account rates are worth the terrible website and customer service. I'll add my own experience to the other 1 star reviews to give further data for that decision.

It takes >30 minutes for Cust. Service to answer phone calls and there is no chat, email support for non-account holders, or a leave your number to receive a call back option.

My initial deposit from a linked external bank was rejected by the BMO website. No one in Cust. Serv. could explain/fix this after 2.5 hours of being bounced around to 4 different reps. One rep. actually transferred me to a recording that stated "Customer Service is now closed, please call back tomorrow". (I called back, waited another 30 minutes, and talked with yet another rep.)

Important account information is very hard to find on the web page, phone Cust. Serv. is time consuming and could not answer basic questions (the max. daily and monthly deposit/withdrawal limits are listed under "Legal" but nowhere in the 2 docs on the account website page.

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Health

Health Grade Components

Overall
FDIC Certificate #16571
Year Established1947
Employees11456
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD7.75%
Annual Interest Income$2.33B
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$129.6B$113.2B
LoansQ2 2019vs Q2 2018$85.67B$74.41B
DepositsQ2 2019vs Q2 2018$101B$83.57B
Equity CapitalQ2 2019vs Q2 2018$16.56B$15.62B
Loan Loss AllowanceQ2 2019vs Q2 2018$775.7MM$668.9MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$938.1MM$846.1MM
Real Estate OwnedQ2 2019vs Q2 2018$18.7MM$22.9MM
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
1.25%*$50k*-Health Savings Account
OTHER TIERS: 0.05% Up to $5k | 0.25% $5k - $10k | 0.50% $10k - $25k | 1.00% $25k - $50k
0.05%--Statement Savings

BMO Harris Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%*$5k*-Platinum Money Market - Online Only (limited markets)
OTHER TIERS: 0.05% Up to $5k
1.25%*$250k*-Platinum Money Market
OTHER TIERS: 0.25% $5k - $10k | 0.50% $10k - $25k | 1.00% $25k - $250k

BMO Harris Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$50k*-BMO Harris Premier Account
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $10k | 0.15% $10k - $25k | 0.20% $25k - $50k

BMO Harris Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$5k-11 Month CD Special
1.85%$1k-1 Year Add-on CD
0.75%$1k-60 Month CD
0.50%$1k-48 Month CD
0.40%$1k-36 Month CD
0.35%$1k-30 Month CD
0.30%$1k-24 Month CD
0.25%$1k-18 Month CD
0.15%$1k-12 Month CD
0.10%$1k-9 Month CD
0.05%$1k-3 Month CD
0.05%$1k-6 Month CD
0.05%$100k-1 Month CD
0.05%$100k-2 Month CD

BMO Harris Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$1k-60 Month IRA
0.50%$1k-48 Month IRA
0.40%$1k-36 Month IRA
0.35%$1k-30 Month IRA
0.30%$1k-24 Month IRA
0.25%$1k-18 Month IRA
0.15%$1k-12 Month IRA
0.10%$1k-9 Month IRA
0.05%$1k-3 Month IRA
0.05%$1k-6 Month IRA
Locations

Availability

Chicago Area

Interactive local rates map


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