You can earn $200 when opening a new BMO Harris Bank Everyday Checking, Select Checking, or Portfolio Checking account. This promotional offer is valid now through August 30, 2016.
- Use or mention the promotion code when opening the new checking account.
- Have at least one recurring qualifying direct deposit of $300 or more on at least a monthly basis.
- Initial direct deposit must be received within 60 days of new account opening.
- Qualifying direct deposits are defined as "a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited."
- Not available to existing BMO Harris personal checking account customers (including all signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months of opening a new account as part of this promotion.
- Limited to one bonus per customer
- If requirements are met, the bonus will be credited after approximately 120 days of account opening.
- The account must be open and in good standing to receive the cash bonus.
- The account must be open for a minimum of six months to keep the bonus, and there is an Early Termination Fee of $50 if the account is closed within 90 days
Of the three checking accounts, the Everyday Checking is probably the best option. Its $10 monthly fee can be waived if any of the following requirements are met:
- Receive an external deposit of $500 or more, OR
- Maintain a minimum daily balance of $1k or more, OR
- If you are a college student, you can request a fee waiver, which could result in the account being fee free for four years.
Complete details for all BMO Harris checking accounts are listed on the Checking Accounts page for easy comparison.
BMO Harris Bank’s market area includes Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri, Washington, and Wisconsin.
The promotion code (sent via email) must be used or mentioned when opening a new checking account to qualify for the $200 bonus.
BMO Harris Bank (FDIC Certificate # 16571) has an overall health grade of "A+" rating at DepositAccounts.com, with a Texas Ratio of 5.52% (excellent) based on March 31, 2016 data. In the past year, BMO Harris Bank has increased its total deposits by $5.83 billion, an excellent annual growth rate of 7.68%. Please refer to our financial overview of BMO Harris Bank for more details.
BMO Harris Bank can trace its origins to the Glencoe National Bank, which was established in 1947 in Glencoe, Illinois. Almost 40 years later, the name was changed to Harris Bank Glencoe-Northbrook, N.A. May 2005 was a busy month for the Bank, with the acquisition of 26 Illinois banks, the Bank headquarters moved to Chicago, and another name change (Harris National Association). The next six years saw another 11 acquisitions and a final name change. Today, BMO Harris Bank is the 2nd largest bank in Illinois and the 25th largest bank in the country, with assets in excess of $104 billion.
How the $200 Checking Bonus Compares
Assuming $1k is left in an Everyday Checking account undisturbed for six months to avoid the $10 monthly fee and $50 early termination fee.
$1k in an Everyday Checking account for six months = $200 cash bonus
$1k in a savings account earning 1.00% for six months = $4.99 interest
Other Bank Promotions and Bonuses
Not eligible for BMO Harris Bank’s checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.