-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
4.0
Pros:
- MMA earns competitive rates
- Good variety of accounts available
- Special CDs earn competitive rates
- Many ways to open accounts
Cons:
- High opening required amounts
- Accounts have monthly fees
- Most interest rates not competitive
- Tiered interest rates on accounts
-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Most accounts have low opening balance
- myDime Student account
- ATM fees refunded with DimePrime
- Business accounts are available
Cons:
- Opening accounts done at a branch
- Accounts not offered everywhere
- Low-interest rates
- Most accounts have monthly fees
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.
Most of the Dime accounts only need $25 to open the account. Those accounts include checking, savings, and money market accounts. The cost to open a CD is $500. The money market account requires $500 to establish the account. The minimum amount per check is $500 for money market accounts.
The myDime Student account is a basic checking account for students. There is no minimum balance to open the account. This account refunds fees charged from using other banks ATMs. myDime account offers an "oops rebate." Students are refunded the fee of one overdraft per calendar year. Online, mobile banking and bill pay are available. When students open this account, they receive three free deals from DimePerks.
DimePrime offers free withdrawals from any ATM. If you use a non-Dime ATM, they will refund the ATM fees. They refund up to $10 each month in ATM fees. To qualify for DimePrime, you must have $15,000 in Dime checking and savings accounts. Another option to qualify is to have a consumer or residential Dime loan balance of $150,000.
Dime offers a variety of business accounts. Checking, savings, and money market accounts are available for your business. CDs, commercial mortgages, loans, and credit lines are also available.
Even when you meet the required account balance to earn interest on your accounts the interest rates are low. Only a few of the CD term interest rates are competitive. All other interest rates are considerably lower than other online-only banks. They are competitive with typical banks.
To open an account with Dime, you have to visit a local branch. Their branches are in southeast Connecticut and west Rhode Island.
Since you have to visit a branch to open an account, accounts are not available everywhere. To be an account holder, you must live in southeast Connecticut or western Rhode Island.
Most all Dime accounts have a monthly service fee. The fees vary in range from $2 to $20 per month. The fees vary from accounts. To have the fee waived there are requirements you must meet. You must also have a certain amount in the accounts to earn interest.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.