Update 7/11/22: Bonus has been increased to a maximum of $560. Hat tip to reader Matt J
Offer at a glance
- Maximum bonus amount: $560
- Availability: Must reside in Florida, Illinois, Wisconsin, Minnesota, Indiana, Arizona, Kansas, or Missouri
- Direct deposit required: Yes, direct deposits totaling $4,000+ or $7,500+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: Cannot fund with a credit card
- Monthly fees: $25, avoidable
- Early account termination fee: $50 if closed within 90 days,
- Household limit: None listed
- Expiration date:
September 30th, 2020 October 31, 2020 November 11, 2020 January 29, 2021 April 30, 2021June 3, 2022
- BMO Harris is offering bonuses of up to $560 when you open a checking & savings account. The bonuses are as follows:
- Get a checking bonus of up to $500:
- Open a Smart Advantage Account and get a bonus of $300 when you have at least $4,000 in qualifying direct deposits within the first 90 days of account opening
- Open a BMO Harris Premier Account and get a bonus of $500 when you have at least $7,500 in qualifying direct deposits within the first 90 days of account opening
- Can also get a $5 monthly savings bonus: Earn a $5 reward for each month that you save $200 or more, for up to 12 months
Open a Platinum Money Market account and get a bonus of up to $300: Get a $100 bonus when you deposit $10,000 or more in the first 30 days and then keep it in your account for at least an additional 90 days Get a $200 bonus when you deposit $25,000 or more in the first 30 days and then keep it in your account for at least an additional 90 days Get a $300 bonus when you deposit $50,000 or more in the first 30 days and then keep it in your account for at least an additional 90 days
The Fine Print
- In order to be eligible for these offers, you must reside in Illinois, Wisconsin, Minnesota, Indiana, Arizona, Kansas, or Missouri.
- You can apply online or at a branch.
- To apply online, use the “open now” links above and we’ll automatically apply the promo code for you.
- Before you apply at a branch, enter your email and click “Send Me My Coupon Above” to receive the promo code you must use when opening your account. You must open your accounts between July 1, 2020 and September 30, 2020.
- Offers A & B can be combined but each are limited to one per customer.
- Offer A is not available for 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 B is not available for existing BMO Harris personal money market or savings customers (including signers on joint accounts) or those who have closed a BMO Harris personal money market or savings account within the past 12 months.
- Offer B is available for existing BMO Harris personal CD or IRA customers (including signers on joint accounts) and those who have closed a BMO Harris personal CD or IRA in the past 12 months.
- Bonuses are not considered part of the opening deposit and will be reported to the IRS for tax purposes.
- You are responsible for any applicable taxes.
- Offers can be changed or cancelled without notice at any time, and cannot be combined with any other offer.
- Your accounts must be open, in good standing and must have a balance greater than zero when the bonuses are paid approximately 100 days (Offer A) and 130 days (Offer B) after opening.
- You are only eligible for the bonus amount corresponding to your account balance on Day 30.
- If your account balance increases or decreases between Day 31 and the next 90 days, you will not be eligible for a different bonus amount. Day 1 is the day you open your account and begins the tracking period. If you open your account on a day other than a Business Day, Day 1 is the next Business Day.
- Deposits received on a day other than a Business Day will be posted the next Business Day.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Smart Advantage Checking Account ($200 Bonus)
This account has no monthly fees to worry about
BMO Harris Premier Account ($350 Bonus)
This account has a $25 monthly fee. This is waived with one of the following:
- $10,000 minimum daily balance,
- $25,000 in combined balances with Relationship Waiver,
- or a BMO Harris Financial Advisors, Inc. investment account
Early Account Termination Fee
There is an early account termination fee of $50 if the account is closed within 90 days.
If you’re doing the savings bonus ($200 or $300) then you’ll have enough money in combined balances to keep the Premier account fee free as well. The savings account earns 0.05% APY for balances $25,000 or under and 0.1% APY for balances $25,000+. The most recent BMO Harris offer was for $200 for opening a checking account, but has been as high as $500 with the same requirements.
This bonus is up to an extra $150 compared to that $500 bonus, but the requirements are much higher. We obviously don’t have any idea if/when that bigger bonus will return so if you can do the full $650 bonus this might be worth considering. Because of that we will add it to our list of the best bank bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
- Update 2/7/22: Maximum bonus is now $350.
- Update 9/27/21: Extended until October 15.
- Update 6/10/21: Deal is back and has been increased from $200/$400 to $300/$500. Valid until September 30, 2021.
- Update 2/13/21: Deal is back and valid until
4/30. May 28, 2021June 4, 2021
- Update 1/5/21: Deal is back for $350. There is also a $5 savings bonus per month for 12 months. Hat tip to reader JohnnyBoyJr
- Update 10/14/20: Deal is back for the $350 checking bonus, savings bonus is not available this time. Deal is better when savings is also offered as that is enough to keep the Premier account fee free as well. Hat tip to reader Snowbird
- Update 8/3/20: Link for FL added. Hat tip to reader Zach