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 25th largest bank in the nation. It was established in 1947 and as of June of 2022, it had grown to 10,809 employees at 526 locations. BMO Harris Bank has a B+ health rating.

Related Posts

7Yr CD To Yield 4.00% - 6/24/2022

RBC Wealth Management - BMO Harris Bank CDs to yield 4.00% BMO HARRIS BANK CDs 4.00% due 7/06/29 FDIC Insured to Limits ($250K per account title) Callable beginning 1/06/23; then anytime thereafter @ 100 Semi-annual Interest Price = 100.00 to yield 4.00% to the call and 4.00% to maturity

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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: |

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.

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 !

Worst Business Bank Ever

Worst business bank ever. It took a year. A YEAR. for them to get my online business services running for me.

This week I have spent THREE DAYS on the phone with them trying to get their system to let me send a time-sensitive wire. That's 3 days not getting my wire sent. Three days not tending to customers. Three days losing sales. Three days not getting ANY work done that I will now need to do evenings and weekends.

For help, you can expect to have to go through layer after layer of option menus, then invariably you get the wrong department and when they transfer you they end up disconnecting you. I have never been so frustrated with a bank in my life.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #16571
Year Established1947
Employees10809
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.07%
Return on Equity - YTD11.12%
Annual Interest Income$2.02B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$163.2B$159.8B
LoansQ2 2022vs Q2 2021$93.19B$82.27B
DepositsQ2 2022vs Q2 2021$133.3B$134.3B
Equity CapitalQ2 2022vs Q2 2021$15.40B$18.47B
Loan Loss AllowanceQ2 2022vs Q2 2021$779.8MM$934.3MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$476.4MM$784.4MM
Real Estate OwnedQ2 2022vs Q2 2021$5.2MM$3.2MM
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
0.01%--Savings Builder

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
0.01%--BMO Harris Premier Silver Account (<25k combined balance)
0.01%--BMO Harris Premier Gold Account (25k-<100k combined balance)
0.01%--BMO Harris Premier Platinum Account (100k-<250k combined balance)
0.01%--BMO Harris Premier Platinum Elite Account (250k+ combined balance)

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

Milwaukee Area

Interactive local rates map


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