BMO Bank $400 Checking Bonus (FKA BMO Harris)

Update 5/7/25: Deal is back, now $400 instead of $350. There is also a $600 link, but that contains mailer language. If you’re using that link read this comment.

Update 2/4/25: Extended to May 2, 2025. Bonus now $350.

Update 11/3/24: Bonus has been reduced to a maximum of $300. Extended until February 3, 2025

Update 9/10/24: Extended through October 31, 2024. Can also get a $100 for meeting with a banker.

Offer at a glance

  • Maximum bonus amount: $560
  • Availability: Nationwide now
  • 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, 2021 June 3, 2022 September 9, 2024

The Offer

Direct link to offer

  • BMO Harris is offering a bonus of $600 when you open a checking account:
    • 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 Relationship Checking 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
  • Plus, get a $100 digital gift card2 when you meet with a BMO banker to discuss your financial priorities after opening your account online
  • You can also open a savings account and get $5 monthly savings bonus 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

  • You are only eligible for one checking account cash bonus; you cannot open multiple checking accounts and receive multiple cash bonuses.
  • 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.
  • Offer A: Get up to a $350 bonus when you open a new BMO Harris Smart Advantage™ Account or BMO Harris Premier™ Account and have qualifying direct deposits of a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into the account from an employer or outside agency. We reserve the right to request documentation to confirm that the direct deposits qualify.
  • 1) Get a $200 bonus when you open a new BMO Harris Smart Advantage™ Account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening. OR 2) Get a $350 bonus when you open a new BMO Harris Premier™ Account and have a cumulative total of $7,500 in qualifying direct deposits within 90 days of opening.
  • You are only eligible for one bonus; you cannot open both checking accounts and receive both bonuses.
  • 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.
  • The checking account type you have on Day 90 will determine which bonus you are eligible for. In order to receive the bonus, you must meet the associated criteria for that account.
  • Offer B: Get up to a $300 bonus when you open a new Platinum Money Market account and make qualifying deposits of new money. New money is defined as funds not currently on deposit at BMO Harris Bank or its affiliates.
  • 1) Get a $100 bonus when you deposit at least $10,000 in new money into your account by Day 30. Beginning Day 31, your balance must be $10,000 and it cannot drop below $10,000 for the next 90 days. OR 2) Get a $200 bonus when you deposit at least $25,000 in new money into your account by Day 30. Beginning Day 31, your balance must be $25,000 and it cannot drop below $25,000 for the next 90 days. OR 3) Get a $300 bonus when you deposit at least $50,000 in new money into your account by Day 30. Beginning Day 31, your balance must be $50,000 and it cannot drop below $50,000 for the next 90 days.
  • 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

Avoiding Fees

Monthly Fees

Smart Advantage Checking Account ($350 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.

Our Verdict

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.

Hat tip to readers  JohnnyBoyJr & raekwon

Useful posts regarding bank bonuses:

Post history:

  • Update 5/6/24: Extended through 9/9/24
  • Update 1/10/24: Extended until 5/3/24
  • Update 12/11/23: Bonus is back but now only $250/$400.
  • Update 10/9/23: There is now a savings bonus as well, not worth considering due to the current high interest rates.
  • Update 9/19/23: Deal is back and valid until 12/8/23 and now officially $400/$600
  • Update 9/10/23: Looks like people are actually getting $400/$600.
  • Update 6/21/23: Looks to be nationwide now.
  • Update 5/16/23: Extended through September 15, 2023.
  • Update 1/9/23: Extended through June 2, 2023.
  • Update 10/6/22: Bonus is now $350, valid through 12/30/22
  • Update 7/11/22: Bonus has been increased to a maximum of $560. Hat tip to reader Matt J
  • 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, 2021 June 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
    William Charles
  • On May 7, 2025, 07:00
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View Comments (4584)

  • Applied online. Declined. Pulled Chex and there was no inquiry from BMO..which is strange. I had thawed all 3 CRs about 30 minutes prior. Perfect credit. 3 Chex inquiries listed since November 2023...

    • Replying to my own post to add: Tried from my cell phone later on (not on wifi) and got the same rejection. Had to call in. Gave the exact same info and was approved. Took 45 minutes, but oh well.

    • Chex has been a little wonky lately. (Viewed by others) Inquiries being allowed on frozen Chex reports, inquiries showing up late, etc. Maybe check tomorrow?

      Regardless, BMO has started being "Chex sensitive" for online applications. In branch, or phone applications, are the way to get around it.

      Also, very common, identity verification errors online are preventing your application from proceeding. You can try a different browser, different device, turn off Wi-Fi on mobile device, and sometimes get a different answer. Same day is better than waiting, because same-day inquires will merge. @guest_2125557

  • P2 received the $600 bonus without being hit with a single maintenance fee or being targeted for this offer. Statement dates were 5/25/25, 6/25/25 and 7/25/25.

    5/17/25: Opened acct.
    7/18/25: Received last of 10k using real DD.
    8/18/25: Promotional Incentive - paid $600.
    8/20/25: Downgraded acct to Smart Advantage Checking using chat.

    • Nice. I just opened for P2 on 8/15 and already got the first statement on 8/18. Looks like I'll have to move fast to downgrade once the bonus hits.

  • Couldn't open an account on PC. "Unable to confirm identity"
    Waited an hour and applied successfully on android phone taking selfie and DL photos.

  • My phone call to open this account took 1 hour and 12 minutes to complete. I better not screw up this bonus.

  • Does anyone know if they waive the monthly fee on the Relationship Checking account for the first 3 months like they do for the Smart Advantage account? If not, do y’all know when that fee hits the account after opening?

    I’m trying to figure out if there’s any sort of grace period. Thanks in advance for the help

    • I'd my account open for 3 months with just a $10k DD for the Relationship Checking $600 bonus within 2 months. I let the account balance drop to $5 until the 3-month mark, and the $600 bonus was posted without any fees being charged. After the $600 was posted, I changed to Smart Advantage via secure message.

      I assume that for BMO, fees are only incurred on the checking account after the first 3 months.

      • Hehe too risky for my blood. I’m not letting my account sit at $5 when the fee is $25. Probably would not be the end of the world but I don’t want to be in the red, especially for a $600 bonus.

    • Read the disclosure / fee schedule, except their example is wrong and should have the fee in April.

  • Currently, the savings acct bonus offer is listed on their site with this: "Open a new Savings Builder account and earn a $5 reward every month you grow your balance by $200 or more for the first year."

    Where is says "grow your balance" does that mean I need to keep the funds in there the whole year, and always add more? $5 return on $200 per month is 2.5% which is not the worst, but not as good as a typical HYSA. The website also seems to hint that the bonus is paid at the end of a year, not each month.

    Does anyone have insight into this? I'll happily take the $5 if I am also allowed to move the money back to a HYSA monthly, but if I have the keep the money there all year . . . I don't want to sacrifice the additional 1.5% I could be earning elsewhere.

    • I don't think you need to keep the funds in there, but the balance must increase by $200 to get the next monthly $5. So if you put in $200, get to $205 and withdraw it to an HYSA, you need to then put in I believe $405 to get the next month's $5. The only way to semi-circumvent it is to get your $5, then withdraw it, let it go a month with 0 (so you'll miss out on that month's $5) but then it should restart so you only need to have $200 in there the next month (instead of needing like >$1000 after 5 months).

  • Mine and p2 opened on the same day and I finished my 4k on Aug 1st mine did not post so far but P2 posted today.

  • I received this offer but not sure if an ACH deposit from Fidelity Cash Management Account qualifies as a qualifying DD?

    Offer:
    BMO Relationship Checking account
    Earn a $600 cash bonus when you have a total of at least $10,000 in qualifying direct deposits within the first 90 days.

    Qualifying direct deposits are deposits of regular income – such as your salary, paycheck, pension payment, Social Security payment or other government benefits payment – electronically deposited into the account from an employer or similar third party.

  • spoke to a rep: "It shows you had a zero balance in August of Last year, the account would have been closed around that time period". So safe to say i can open it in at the beginning of September ?.

    • If that is how you want to take it, sure, that is the safest bet.

      But, the rep should have been able to give you an exact date the account was closed. Slightly odd, even if you let the bank close it for you.

      I don't recall if BMO mails you a final statement, but often when a bank does, it will show the closing transaction. That was the day the account was closed. 12 months later is day for day... so if it was closed on 17 August, 2024, you are okay to open a new one for the promo now. That's more than 12 months from today.

      So, what should you do? I would request a copy of your EWS report and see what date that shows. I have seen issues with what date it reports, but on the safer side and reports info the future, for whatever reason. However, it takes about two weeks to get the report.

      https://www.earlywarning.com/your-early-warning-file-disclosure

      Or, just keep on keepin' on and open in Sept.

      • I requested closure and had to request the final statement after the statement period ended. It did not show a closing transaction.

        I requested my EWS report last week on Monday night and unexpectedly received it on Thursday morning. Maybe because I recently requested it last month as well. So, YMMV.

        • Ok. Nice that you received your EWS report was received so quickly. Mine usually take about 2 full weeks.

          Either way, I am assuming your closure date was what you expected. I have seen reports Citizens and Truist are not accurately reporting the closure date to EWS, so it's up to us to make a judgement call. IMO, when in doubt, the credit reports are not the ledger and we should use the bank as our guide. It just baffles me a rep would say your account was closed "around that time period". That's shabby.

          • Hey Gadget
            Do you know if we keep saving account open but close checking will it help to churn next year (may be BMO does not pull Chex if already have existing relationship). I usually try to churn checking account but thought having saving may help. Any thoughts?

          • https://www.doctorofcredit.com/il-wi-mn-in-az-fl-ks-mo-bmo-harris-350-checking-300-savings-bonus/#comment-1695069

            You won't save yourself a Chex inquiry.

            "The first application try did fail, almost certainly because Chex was frozen. Denied. Lifted Chex freeze, took a 5-minute break, and applied again. Approved.
            I verified the Chex inquiry did happen, even as an existing BMO savings acct customer. OOS/VA."

            I cannot speak to if it will impact Chex sensitivity online, as they weren't inquiry sensitive back then.

  • Opened account Thur. Scheduled my DD for Mon. Could not log in/2fa with phone number. Called in, would not let me change number "for security", said I must go to branch. Fine. Went to branch on Fri to change phone number. Teller thought this was extremely weird, took 10 minutes, but phone number changed. Could now log in with 2fa. On Sat, tried to live chat for a question. "Sorry, we see you recently failed verification, you must go into a branch for your question". Seriously? You want me to go, in person, a *second* time, to answer my question (which was not of a secure nature, at all)? No thanks.

    Do not recommend BMO.

    • They don't have branches near me so the only option to get verified is a NOTARY. They won't reimburse me so I'm not going to do it. They won't even let me close the account. I asked them if I leave it at zero balance what will happen and they said eventually it will be closed so I guess that's what will happen...

      • Often times local credit unions, some banks, if you are a member, will provide notary services for free, even if the document does not pertain to them. You can also check with your local library, or city hall.

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