BMO Up To 1K Offer-How Did U Determine Availability?

sunnyismoney | Mar 8, 2024 | 26 posts since 2024

info from "Best Savings and Checking Account Bonus Offers - March 2024"

BMO Bank

Checking Accounts

bonus amount Up to $1000

Learn More at BMO Bank's site

Availability: AZ, IL, IN, KS, FL, MN, MO, WI

I went to BMO's site & did not see anything about availability...

I am in Michigan & in their website I clicked "OPEN NOW" & BMO opened the acct with promo code BMO provided

thanks,

James

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Answers

IGR | Mar 9, 2024 | 580 posts since 2020

There is no concern.
The geographical availability restriction seems to be outdated info from DoC and other web sources, that goes back to time when BMO only served the communities where they have physical presence.
By now BMO went fully online and nationwide.

The promo isn't bad, about $600 on $30K Deposited.
But, one needs to be very careful, because the Promo is cunning tricky.
It requires balances from the day One, while it doesn't mention that day ONE COLLECTED BALANCE would be ZERO, unless the Account opened in person in the branch and Funded with Cash, Money Order or Cashier Check.
I cant say if that was written in on purpose to trap Bonus seekers, or some Marketing "gurus" had no idea how Back Office Banking Operations function.
I would have to time my application perfectly just to find out!(BMO CSR who read me loudly promo requirements, was gracious enough to agree)

sunnyismoney | Mar 9, 2024 | 26 posts since 2024

please see if following makes sense
my understanding of the requirement "...on day 90 after acct opening, the Average Collected Balance in the account from Day 1 to Day 90 must be within a range shown below..."
my reading is that if u don't open at branch & want bonus at 30k level; to get average collected balance to be 30k-as example-if deposit 35k by 10th day after opening-take 35k x 80 days divided by 90 days = $31,111 average collected balance
thanks

IGR | Mar 9, 2024 | 580 posts since 2020

I am not going to validate @jrcinMich calculous... there are variables, but
Conceptually and principally, the approach and understanding is correct to the absolute degree.
Thank you, James

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