Published on August 2nd, 2019 | by William Charles1,646
[AZ, FL, IL, IN, KS, MO, MN and WI] BMO Harris $400/$500 Checking Bonus – Available Online
Update 8/2/19: Bonus extended until August 31st, 2019
Update 7/20/19: Direct deposit requirement has been increased to $6,000 (from two of $500+)
Update 7/9/19: Now only need to deposit $5,000 for the savings account instead of $10,000. Hat tip to reader Curmudgeon
Update 6/3/19: New link found, you also get $400 for opening the checking account now and another $100 for the savings account. Doesn’t look like there is a deposit requirement for the savings account either. Hat tip to reader Ben A
Update 5/8/19: New link found that extends the deal until 7/1. Hat tip to reader Clint
Update 4/12/19: New link found, you now get a $300 bonus for opening the checking account (instead of $200) and then an extra $200 for opening the savings account (previously $300). The savings bonus has become much easier though as you now only need $10,000 instead of $25,000 deposited. Hat tip to reader Celia
Update 3/10/19: Bonus is back and it’s now possible to get a $500 bonus as well. To get the bonus you need to send yourself a coupon (available on the landing page) and then use this promo code during sign up. Looks like the promo code might actually apply automatically when opening online.
Also it doesn’t look like there is a state restriction anymore. State restriction still applies
Offer at a glance
- Maximum bonus amount: $200/$500
- Availability: Must reside in Arizona, Florida, Central or Southern Indiana, Kansas, Missouri, St. Clair County in Illinois, Pierce or St. Croix Counties in Wisconsin, or Minnesota (excluding St. Louis County)
- Direct deposit required: Yes, direct deposits totaling $6,000+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: Cannot fund with a credit card
- Monthly fees: None with eStatements
- Early account termination fee: $50 if closed within 90 days, you’ll also forfeit the bonus if you closed the account within six months (now 120 days?).
- Expiration date:
April 28th, 2017 June 30th, 2017 September 30th, 2017 December 31st, 2017 March 30th, 2018 May 31st, 2018 June 29th, 2018 October 31st, 2018 January 31st, 2019 February 28th, 2019 May 31st, 2019 July 1st, 2019 July 31st, 2019August 31st, 2019
- Household limit: None mentioned
- Receive a $400 bonus when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ AccounAccount checking account and complete the following requirements:
- Receive a total of at least $6,000 in direct deposits within 150 days of account opening
- Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard post to your account within 90 days of account opening [Read: How to meet debit card transaction requirements]
- Receive an extra $100 when you open a new statement savings account and deposit $5,000
The Fine Print
- If you are opening your account online or by phone, you must reside in a state that BMO Harris operates retail branches and use that address to open the account. BMO Harris currently operates retail branches in Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota and Wisconsin.
- $300 checking bonus: 1) Mention the promo code when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ Account, or BMO Harris Premier™ Account between March 18, 2019 and May 31, 2019. If you use the “open now” link above we’ll automatically apply the promo code for you. You can also apply online at bmoharris.com, at a branch or call 1-866-362-1166. Before you apply, enter your email and click “Send Me My Coupon Above” to receive the promo code. 2) Have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $500 or more each electronically deposited into the account from an employer or outside agency within 90 days of opening. We reserve the right to request documentation that the direct deposits qualify. 3) Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard® post to your account within 90 days of account opening.
- Offer is not available to existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months.
- Offer cannot be combined with any other offer and is limited to one per account.
- We reserve the right to amend or cancel any part of this offer.
- $200 Statement Savings bonus: To receive the bonus: 1) Open a new Statement Savings account between March 18, 2019 and May 31, 2019 with an opening deposit of $10,000 or more of funds not currently on deposit at BMO Harris Bank or its affiliates. If you use the “open now” link above we’ll automatically apply the promo code for you. You can also apply online at bmoharris.com, at a branch or call 1-866-362-1166. Before you apply, enter your email and click “Send Me My Coupon Above” to receive the promo code. 2) Maintain at least $10,000 in the account for 90 days.
- Bonus will be paid into the Statement Savings account.
- Offer is not available to existing Statement Savings customers (including signers on joint accounts) or those who have closed a Statement Savings account within the past 12 months.
Bonus is not considered part of the opening deposit and will be reported to the IRS for tax purposes.
- You are responsible for any applicable taxes.
- Your account must be open and in good standing when the bonus is paid approximately 120 days after opening.
Smart Advantage Checking ($300 Bonus)
Your best option is to open the BMO Smart Advantage Checking account. This has a no monthly fee when you have eStatements.
Early Account Termination Fee
There is an early account termination fee of $50 if the account is closed within 90 days. In addition the account needs to be open at the time the bonus posts (within 120 days). You also need to keep it open for six months or the bonus will be forfeited (this might not be the case anymore).
This bonus is significantly better now that you can open online rather than having to deal with a phone or in branch application. It’s even better now that the bonus is $400 for checking and the savings bonus is easier to meet the requirements for. This will be moved higher on our best bonus list.
Big thanks to reader, Josh who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Update 11/16/18: Bonus is back and available through January 31st, 2019. Hat tip to JuicyJosh
- Update 09/02/18: Bonus is back and available through October 31st, 2018. Thanks to reader @millionmilematt
- Update 05/0918: Bonus is back and available through May 31st, 2018. Thanks to reader Joe.
- Update 01/04/18: Bonus is back and available through March 30th, 2018. It now requires 10 debit card transactions as well. They also upped the direct deposit requirement to $500 from $300
- Update: Bonus is now only available to residents of the following states: AZ, FL, IL, IN, KS, MO, MN and WI.
- Application page now clearly states it can be opened online, thanks to reader Todd.
- A lot of us reported issues opening the Signature Card pdf during account opening requiring bank contact to mail a copy. Per BMO this is Google Chrome compatibility issue and should work fine in other browsers. You can fix this by using another browser or using this trick.