BMO Harris Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.75% | 5-year CD | 60 Month CD 2.35% - Synchrony Bank 60 Month CD |
| 0.15% | 1-year CD | 12 Month CD 1.40% - Synchrony Bank 12 Month CD |
| 0.05% | Savings | Statement Savings |
BMO Harris Bank is headquartered in Chicago and is the 2nd largest bank in the state of Illinois. It is also the 27th largest bank in the nation. It was established in 1947 and as of March of 2017, it had grown to 12,256 employees at 608 locations. BMO Harris Bank has a B+ health rating.
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5/10 - BMO Harris Bank's $200 Checking Bonus Available Nationwide
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2/28 - $200 Checking Bonus From BMO Harris Bank
2/21 - BMO Harris Bank Adds Three Relationship CD Specials
4/29 - $200 Checking Bonus Has Been Extended At BMO Harris
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
Great Customer Service For 3 Years
Never have had an issue with opening/closing accounts
Easy to navigate online site and mobile app
Using Harris' website is very user friendly (although on the home page, sometimes when you're trying to click on the login box it disappears - I found that if your mouse hovers over the navigation bar it will disappear, so best to go around the edge of the page). I can easily check balance on each of my account, transfer money between accounts and bill pay with just a few clicks. The mobile app is even better - it was recently upgraded - and there are buttons for deposit (I love not having to go to the bank to deposit a check), bill pay, transfer money and people pay. I have had a few issues with minimums on the accounts changing and getting a fee when a balance dropped below a certain amount (for a checking account), but when I went in and explained I didn't realized the minimum had changed, they waived the fee. It seems like the longer you have an account, the more likely the rules regarding the account will change, so it's important to check statements or ask periodically. The experience I had with opening a CD was seamless and simple. Whenever I have to go to a branch, I find the employees to be very courteous and helpful, and there are usually no lines.
Did not feel the love...
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.
Untrustworthy, Corrupt Or Incompetent Bank
Whether this bank is intentionally deceitful, or just completely incompetent, you should NOT bank with BMO Harris.
I opened a checking account and a savings account for a $500 bonus ($300 for the checking, and the remaining $200 for the bonus). I have done this with several banks, and BMO Harris is the only bank I have ever had a problem with every customer service representative giving different information, and consistently being wrong.
1. PROMO CODE DISASTER
When opening an account with a promotional code, there is no confirmation like every other bank seems to have. I even asked my banker for this page, and was informed that they don't do that, but have to take the physical code and hand it in.
I called the day I opened the account, and was informed that due to the process of submitting promo codes, they couldn't confirm whether it was applied, and that I would need to call back in a few days. I called back a week and a half alter and confirmed the promo code was indeed applied. Hallelujah.
The bonus was based on 90 days activity, and was supposed to be credited approximately 120 days after account opening.
A few days after the 120 days passed, I called in to check the status. Different reps gave me different answers:
* The bonuses will take 1-2 weeks after the 120 days for it to post
* The bonuses are based on statement closing, and I would have to wait for the checking and savings statement dates for them to appear
* The bonuses require manual review and escalation
After 8+ phonecalls (including several calls where they asked me what the promo code was again and what the terms were), I have the checking bonus finally deposited, but still missing the other portion of the bonus. Now they are stating to wait another 10 days.
TAX FORMS
I have family that have BMO Harris as well, and apparently they have issues mailing tax forms to the correct recipient, and include full account numbers of the documents they sent to the wrong customers.
Needless to say, I would NEVER trust my money with this bank. Whether this is intentionally deceiving and stealing from their customers, or just horrible management and systems for doing business, I predict a few Wells Fargo implosion for this bank in the future.
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16571 |
| Year Established | 1947 |
| Employees | 12256 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.58% |
| Return on Equity - YTD | 3.99% |
| Annual Interest Income | $716.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $105.5B$104.4B |
| Loans | Q1 2017vs Q1 2016 | $64.57B$65.26B |
| Deposits | Q1 2017vs Q1 2016 | $78.49B$81.71B |
| Equity Capital | Q1 2017vs Q1 2016 | $15.44B$15.79B |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $664.9MM$683.4MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $948.9MM$822.0MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $28.2MM$86.6MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.05%*† | $25k* | - | Statement Savings | ||
| OTHER TIERS: 0.01% → Up to $25k | |||||
BMO Harris Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.15%*† | $25k* | - | BMO Harris Select Money Market | ||
| OTHER TIERS: 0.05% → Up to $25k | |||||
BMO Harris Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05%† | - | - | BMO Harris Premier Account |
BMO Harris Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.85%† | $5k | - | 30 Month CD Special - w/ Checking | |
| 1.50%† | $5k | - | 15 Month CD Special - w/ Checking | |
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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 |
BMO Harris Bank has 587 locations. Click to view all BMO Harris Bank locations.