BMO Harris Bank Review

• Low or easy to avoid fees. Customers opening the basic checking account incur no monthly fee if they sign up for electronic statements. Other checking accounts do not charge for overdrafts or rebate outside-network ATM surcharges. The savings account charges a $5 monthly fee, but it can be waived by maintaining a minimum monthly balance of $100.
• Low minimums to open accounts. There are three checking accounts and one savings account that can be opened with as little as $25.
• Several debit card options. Harris offers three debit card options. When using your debit card to make purchases, you'll enjoy a variety of perks, including purchase protection, return protection, and extended warranties on eligible items.

• High balances required to earn interest. Although you can open a savings account with just $25, you'll need significantly larger balances to earn competitive interest rates—at least $5,000 for the money market account and the CDs. Plus, the money market account does not pay interest at all if your minimum daily balance falls below $5,000.
• Limited geographic footprint. The bank is regionally focused: while it boasts numerous branches, they're restricted to eight states in the South and Midwest. If you live outside these states, your ability to transact business in person is limited.

BMO Harris Bank is best for customers who live in one of the states where it has physical branches: Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, or Wisconsin.

The bank may also be a good fit for customers who:

• Want to open a checking or savings account with a small opening deposit
• Can maintain four-figure account balances to earn the most interest
• Use a debit card for everyday purchases
• Want to a large, full-service bank that can meet all of their financial needs
• Are 25 years old or less

(BMO Harris has its own ATMs and partners with Allpoint to offer over 40,000 ATMs nationwide that customers can use without a fee. If you use an ATM outside its network, BMO Harris charges $3 per transaction.

As you might expect from a financial institution of its size, BMO Harris Bank offers a wide array of all the usual banking products and services for consumers and businesses, including:

• Checking accounts
• Money market accounts
• Savings accounts
• Certificates of deposit
• Credit cards

Customers have three checking account options to choose from.

• The Smart Advantage Account is monthly-fee-free if you sign up with paperless statements.
• The Smart Money Account carries a $5 monthly service charge but waives overdraft or non-sufficient funds fees. The fee is waived for customers who are under 25 years old.
• The Premier Account earns interest, waives non-BMO Harris ATM fees, and reimburses up to $25 in ATM fees charged by other banks.

Each checking account offers three different debit cards to choose from. The BMO Harris Bank Debit Mastercard provides return protection up to $250 and extended warranty on eligible items. The World Debit Mastercard adds purchase protection in case your item is damaged or stolen within 90 days. Sports fans can show their pride and save 10% on team gear with Bulls, Blackhawks, or Bucks-themed Debit Mastercards.

The Platinum Money Market Account from BMO Harris Bank carries no monthly fees. But it requires a minimum deposit of $5,000 and you need to maintain that balance to earn interest.

A BMO Harris Bank Statement Savings Account can be opened with a minimum of $25. There is a $5 monthly service charge if your minimum balance falls below $100. Customers under the age of 25 are not charged this fee.

Certificates of deposit (CDs) are available from three to 60 months with a minimum deposit of $1,000. Customers that deposit $100,000 or more have access to one- and two-month CD terms as well. BMO Harris Bank offers higher rates at $5,000 and $100,000 balances.

The bank occasionally offers special-term CDs with attractive interest rates to meet its funding needs. An Add-On CD is also available for customers that want to augment an existing certificate, without affecting its maturity date.

At maturity, CDs automatically renew at the current market rate. Customers are sent a notice of maturity by mail and have 10 days from the maturity date to withdraw funds without penalty.

Early withdrawal penalties vary based on the CD's term and can be waived if the owner passes away or is judicially declared legally incompetent.

BMO Harris Bank has several credit card options, all of them part of the Mastercard network. These choices include cards that earn cash back, rewards credit cards, and balance transfer cards. Here are some of the cards it offers:

Rewards Credit Cards

• BMO Harris Bank Platinum Rewards Mastercard
• BMO Harris Bank Premium Rewards Mastercard

Cash Back Credit Cards

• BMO Harris Bank Cash Back Mastercard

Balance Transfer Credit Cards

• BMO Harris Bank Platinum Mastercard

BMO Harris Bank offers additional financial products, including:

• Car loans
• Purchase mortgages
• Refinance mortgages
• Home equity loans
• Home equity lines of credit (HELOCs)
• Personal loans
• Personal lines of credit
• CD-secured loans
• IRAs
• Life insurance
• Managed investment portfolios
• Private banking
• Financial advisors
• Business loans

To connect with BMO Harris Bank customer service, you have several options. You can visit any of the over 500 branches in Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin. Customer service can be reached by phone 24 hours a day at 1-888-340-2265. Automated phone banking is also available 24 hours a day.

You may also contact BMO Harris Bank through online banking and its mobile app. The high-ranking mobile app is available for both Apple (where it scores 4.7 out of 5, based on 16,400 ratings) and Android (4.2 out of 5, based on 4,152 ratings). Through the app, you can also pay bills, view transactions, deposit checks, and more.

To open an account with BMO Harris Bank, the best options are in-person or online. If you live in one of the eight states where BMO Harris has branches, you can open an account in-person. Opening an account online from anywhere is also available.

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks including products available, interest rates, fees, and accessibility to ensure that our content helps users make the right decision for their savings and banking needs.