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.
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5/1 - BMO Harris Savings Drops To 1.65% APY
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3/25 - 3% 5 Year CD As Of March 25
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1/29 - 2% 18 Month CD At BMO Harris Bank
7/3 - BMO Harris Bank Adds CD Specials (Checking Relationship)
5/10 - BMO Harris Bank's $200 Checking Bonus Available Nationwide
3/2 - Earn $200 Checking Bonus At BMO Harris Bank
2/28 - $200 Checking Bonus From BMO Harris Bank
2/21 - BMO Harris Bank Adds Three Relationship CD Specials
4/29/16 - $200 Checking Bonus Has Been Extended 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
3/19/14 - BMO Harris $200 Checking Account Bonus - May Be Targeted
3/11/13 - Up to $200 Checking Account Bonus at BMO Harris Bank in Some States
8/2/10 - $1,000 Business Checking Promotion At Harris Bank In IL, WI & IN
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
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
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
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.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16571 |
| Year Established | 1947 |
| Employees | 10409 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 5.28% |
| Annual Interest Income | $4.06B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $154.3B$137.6B |
| Loans | Q4 2020vs Q4 2019 | $86.18B$86.88B |
| Deposits | Q4 2020vs Q4 2019 | $128.9B$111B |
| Equity Capital | Q4 2020vs Q4 2019 | $18.12B$16.66B |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $1.19B$832.5MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $1.12B$973.8MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $12.7MM$22.0MM |
