BMO Harris Bank Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon


  • MMA earns competitive rates
  • Good variety of accounts available
  • Special CDs earn competitive rates
  • Many ways to open accounts


  • High opening required amounts
  • Accounts have monthly fees
  • Most interest rates not competitive
  • Tiered interest rates on accounts

What You Need to Know

The BMO Harris money market account offers competitive interest rates. These rates are competitive with other online accounts. They are much higher than typical bank rates. There are no monthly fees for this account.

BMO Harris offers a good variety of personal and business accounts. Those accounts include:

  • Checking accounts
  • Savings and money market accounts
  • CD terms from three to 60-months
  • IRA savings accounts and CDs
  • Lending options
  • Credit cards
  • Investment options

BMO Harris Bank offers specific CD terms with more competitive interest rates. Their CD terms range from three to 60-months. They offer a six-month, 12-month, and 18-month CD with more competitive interest rates. These rates are competitive with other online CD accounts. BMO Harris CDs require $1,000, $5,000, or $100,00 to open.

There is more than one way to open BMO Harris accounts. You can open bank accounts online through the website. Customers can open accounts at a branch location or by calling customer service.

Some BMO Harris accounts have high opening required amounts. The money market account requires $5,000 to open. BMO Harris Bank offers regular CDs and jumbo CDs. To get the most competitive interest rate requires $5,000. The jumbo CDs require $100,000 to open.

Most BMO Harris accounts have monthly fees. The fees for their checking accounts range from $5 to $30. The savings account has a $5 monthly fee. These fees can be waived by keeping a set amount in the accounts. Those balances range from $100 to $50,000 depending on the account. Electronic statements and being under 25 years old will also waive some account fees.

BMO Harris Bank account rates are not competitive with other online accounts. The money market account and some CD terms offer competitive interest rates. Other account rates are not competitive with online accounts.

The premier checking account has tiered interest rates. To earn the most competitive rate for this account requires a balance of $50,000. The money market account has tiered interest rates, but the tiers are not on the website.

Digital or Mobile Banking

BMO Harris offers apps you can download through the Apple Store or Google Play. They help protect your information on the app with Digital Banking Guarantee. With the app, you can:

  • View account information and statements
  • Pay bills
  • Transfer money
  • Create a budget and track spending
  • Withdraw cash from ATMs with your smartphone
  • Deposit checks
  • Pay others through Zelle or Apple Pay

Cool Things

Add-On CD

BMO Harris Bank offers an Add-On CD. You can add money to the one-year or three-year CD terms. These terms require $1,000 to open. The interest rates are competitive. You can open these Add-On CDs online or at a branch location.


BMO Harris Bank started in 1882 as N.W. Harris & Co. In 2011, the name changed to BMO Harris Bank National Association. Since the bank started, they have grown to become one of the largest banks in the Midwest. They have over 570 branch locations with more than 14,000 employees. They have 43,000 fee-free ATMs across the United States. Bank headquarters are in Chicago, Illinois.

They offer commercial and personal banking accounts. Those accounts include savings, checking, and money market accounts. You can open BMO Harris accounts online.

Awards and Recognition

  • Named "One of 2018 World's Most Ethical Companies" by Ethisphere Institute
  • "Best of the Best" by Black EOE Journal, Professional Women's Magazine, and Hispanic Network Magazine
  • "Honorable Mention" by the Better Business Bureau in 2017

Giving Back

In 2017, BMO Harris Bank donated over $4 million. The money went to neighborhood programs in Wisconsin. Those included the United Way and United Performing Arts Fund. They also helped the Boys & Girls Club of Greater Milwaukee.

List of Common Bank Fees

  • ATM fees in the United States: $0-3
  • ATM fees internationally: 2.8%
  • Bill pay: $0
  • CD early withdrawal fees: 90-545 days of interest
  • Excessive withdrawal fees: $15
  • Monthly service fees: $5-30
  • Overdraft service fees: $36
  • Paper bank statements: $5
  • Wire transfers (Domestic): $30
  • Wire transfers (International): $50

Frequently Asked Questions

Are all the accounts FDIC insured?

Yes. BMO Harris is FDIC insured. The FDIC is an agency of the United States government. They protect funds deposited in banks, up to $250,000 per customer, per bank. The money is backed by the full faith and credit of the United States government.

How do I access my money?

Access BMO Harris money with ATM or debit cards, checks, or electronic transfers. Wire transfers, bill pay, mobile cash, or Zelle are other ways to access your money. You can also access money by visiting a local branch location.

Can I deposit cash?

Yes, at a local branch location or certain BMO Harris ATMs.

How long do transfers take?

Cash or electronic deposits and wires typically fund the same business day. Check deposits are usually available the next business day if made before the cut off time.

Can I sign up for direct deposit?

Yes. You can have money directly deposited into BMO Harris Bank accounts.

Are ATM transactions free?

BMO Harris offers free ATM transactions at 40,000 Allpoint and BMO Harris ATMs across the nation. Fees do apply to ATM transactions outside of the United States.

Are ATM transaction fees reimbursed?

No. BMO Harris charges $3.00 per ATM transaction at non-BMO Harris ATMs.

Is mobile banking or a mobile app available?

Yes. With BMO Harris digital banking, you can see account balances and transfer funds. You can pay bills and send money with Zelle through the app.

Is bill pay offered?

Yes. Each BMO Harris Bank checking account offers free bill pay.

Do the accounts offer competitive interest rates?

The BMO Harris money market account earns the most competitive interest rates. The other account interest rates are much lower.

Do checking accounts earn interest?

The BMO Harris Bank premier checking account earns interest. The rates are tiered. To earn the most competitive rate requires a balance of $50,000. The interest rates are not competitive with other online checking accounts.

What are the most popular accounts?

The BMO Harris platinum money market account and the 11-month CD term.

What are the monthly maintenance fees?

BMO Harris Bank checking accounts have monthly fees ranging from $5 to $30 each month. Waive those fees by meeting set requirements. Their savings and money market accounts do not have monthly fees.

Is this one of the best banks?

The money market account and some CD terms offer competitive interest rates. You can open most all accounts online. There are a good variety of accounts available, including business accounts. Not all account interest rates are competitive with online accounts. Some accounts have tiered interest rates and monthly fees.

How are my money and personal information protected?

BMO Harris Bank offers security measures that comply with federal laws. Their computers have safeguards. Their files and buildings are secure.

Are any business accounts offered?

Yes. BMO Harris offers savings, checking, and money market accounts for businesses. CDs, credit cards, and lending options are also available.

What makes these accounts different?

You can open most all BMO Harris accounts online. The interest rates on most accounts are much lower than other online banks.

How do I reach customer service?

Reach BMO Harris customer service through phone 24 hours a day. Customer service is available through email or by visiting a local branch location. Customers can follow BMO Harris on Facebook, Instagram, Twitter, or YouTube.

Bank Information

BMO Harris
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