BMO Promotions & Bonuses in December 2024

BMO is the 13th largest bank in the U.S., and they maintain more than 988 branches in 22 states. Although their physical footprint is limited to just 22 states, thanks to technology, they serve customers throughout the U.S. – and that means their frequent bonuses are available nationwide to new customers.

When you switch to a BMO account and meet a few requirements such as direct deposit or maintaining a minimum balance, you can earn some solid bank bonuses. Here’s a rundown of BMO's best bank promotions, with important details on each offer.

Current BMO Promo Codes & Bonus Offers

Here are the active BMO bonuses that you can benefit from today:

Smart Advantage Checking Account

Bonus Amount

$300

Account Type

Personal Checking

Availability

Nationwide

Offer Expires

February 3, 2025

Bonus Requirements

1. Open a new BMO Smart Advantage Checking Account or BMO Smart Money Checking Account using the link below.
2. Within 90 days, have a total of $4,000 in direct deposits.
3. If qualifications are met, bonus is paid approximately 100 days after account opening.
4. *Conditions apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC

Learn More

at BMO

Full Offer Details

Savings Builder

Bonus Amount

up to $60

Account Type

Personal Savings

Availability

Nationwide

Bonus Requirements

1. Open a new Savings Builder account using the link below.
2. Earn an extra $5 for every month you deposit at least $200 into the account, for up to 12 months.

Apply Now

at BMO

Full Offer Details

Summary: BMO's Current Bonuses

Here’s a recap of the current BMO promotions and offers that you can claim right now:

Expired Offers From BMO

These bonuses were recently offered by BMO, but are not available right now.

Check back often as BMO may revive these deals or offer similar promotions in the future. In the meantime, it can sometimes be helpful to compare BMO's current bonuses to their previous deals.

Relationship Checking - up to $600 bonus (Expired)

Expired: October 31, 2024

BMO previously offered up to $600 for opening a Relationship Checking account.

To earn the bonus, you needed to:

1. Open a new Relationship Checking account online using the link below.
2. Within 90 days of account opening, have a total of $7,500 in qualifying direct deposits, earn $500 bonus.
3. Get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities.
4. Conditions apply. BMO Bank N.A. Member FDIC

Business Checking - up to $750 bonus (Expired)

Expired: September 9, 2024

BMO previously offered up to $750 for opening a Business Checking account.

The steps to earning this bonus were:

1. Open a new BMO business account online or in branch using the link below.
2. On day 120, have an average collected balance of at least $4,000 to be eligible to earn $300 at least $25,000 to be eligible for $750.
3. Within the first 120 days, complete 10 qualifying transactions. (any combination of: ACH credits or debits, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions).
4. Bonus will be deposited into the new checking account within 14 days of meeting the promotion requirements, approximately Day 130.

Relationship Plus Money Market - up to $3500 bonus (Expired)

Expired: December 8, 2023

BMO previously offered up to $3500 for opening a Relationship Plus Money Market account.

Earning this bonus required you to:

1. Open a new BMO Relationship Plus Money Market account using the link below.
2. By day 30, deposit new money as follows: $25,000 - $49,999.99, earn $300; $50,000 - $99,999.99, earn $500; $100,000 - $249,999.99, earn $1,000; $250,000 - $499,999.99, earn $2,500; $500,000+, earn $3,500.
3. From Day 31 - Day 120, maintain the minimum new money balance requirement in your Relationship Plus Money Market account for the assigned Tier (If your balance drops to a lower tier, your bonus amount will be recalculated to the lower tier amount).

Elite Business Money Market - up to $1000 bonus (Expired)

Expired: December 8, 2023

BMO previously offered up to $1000 for opening an Elite Business Money Market account.

The requirements for this bonus were:

1. Open a new Elite Business Money Market account online or in branch using the link below.
2. Within the first 30 days, deposit new money as follows: $25,000 - $49,999.99, earn $300; $50,000 - $99,999.99, earn $500; $100,000+, earn $1,000.
3. Maintain the minimum new money balance requirement in your Elite Business Money Market account for the assigned Tier from Day 31 through Day 120.
4. Bonus will be deposited into the new checking account on approximately Day 130.

Statement Savings - up to $60 bonus (Expired)

Expired: January 28, 2022

BMO previously offered up to $60 for opening a Statement Savings account.

To earn the bonus, you needed to:

1. Open a new Statement Savings account using the link below.
2. Earn an extra $5 for every month you deposit at least $200 into the account, for up to 12 months.

Why BMO?

BMO is headquartered in Chicago, and has more than 988 branches in 22 states. For their checking accounts, BMO expands its reach by joining the Allpoint ATM network, which gives you access to about 40,000 fee-free ATMs nationwide. They also offer online and mobile tools to help you take care of most banking tasks without needing to go in-branch.

BMO offers personal checking, savings products like accounts, MMAs and CDs, business and commercial accounts, home and auto loans, credit cards, and IRAs. They also offer their "Premier Services", which is a wealth management service that aims to help you define and work toward a financial plan.

While BMO offers more accounts and services than some of the online-only banks, most of their rates are only competitive with the big banks (read: not very high), so keep that in mind.

Learn more about BMO in our full review

BMO Locations

You may sometimes be required to visit a branch in-person to take advantage of a welcome offer. Or, you may just prefer the convenience of banking with institutions that have locations near you.

Get a better idea of how well BMO can serve you by checking out their branches closest to your area:

How Can You Earn a BMO Bank Bonus?

BMO bonuses have straightforward requirements, though the deposit amounts are often on the higher side, meaning that the promos aren't always achievable for everyone. On the other hand, the payouts are typically a bit higher than what other big banks are paying, so they're worthwhile for those who can meet the terms.

For the checking account bonuses, you'll need to:

1. Open a new account using the correct promo code. That code is applied automatically if you open the account directly from the offer page.
2. Receive qualifying direct deposits totaling a minimum dollar amount.

For the business checking account bonus, you'll need to:

1. Open a new business account online or in branch.
2. Deposit or collect a minimum balance amount.
3. Use the account. Qualifying transactions can be any combination of ACH credits or debits, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions.

For the savings account bonus, you'll need to:

1. Open a new Savings Builder account.
2. Deposit a certain dollar amount each month. You'll need to do this over the course of a year to earn the full bonus.

Reader Experiences with BMO Offers

Here are some of the things our readers have to say about their experience earning BMO promotions, along with some of their helpful tips:

This was an easy bonus for us to get. Had zero issues. Would highly recommend this one!

BMO is good with quick payout of the bonus as soon as the requirements are met.

This bonus is available nationwide. The application process is difficult. Don't be surprised if you have to try to apply more than once. The bonus pays out on time. Straight forward requirements. For 2 months they will waive the montly fee.

I have earned 2 bonuses from BMO. I most recently got a $350 bonus, after direct depositing $7500. A higher direct deposit total than most banks, but worth it for the generous $350 bonus I received. I was charged a $25 service fee at one point, but they reversed it at my request.

Another success story. Me + wife earned the bonus, so $1200 total. The DD funds on the high side, but wasn't a problem pushing our paychecks in. Also was able to downgrade the accounts to free checking via secure message, so never ran into the $25 monthly fee.

How Do BMO Promotions Compare?

BMO has some solid bonuses. The bank is constantly trying to attract new customers with sign-up bonuses and promotional offers, which means that new customers can almost always score some kind of sign-up bonus for opening a new BMO checking account.

When you're comparing banking offers, it's important to not only look at the actual bonus amount, but also the requirements attached to earning that reward.

For example, the BMO personal checking bonus is around $300 and gives you 3 months to accumulate enough direct deposits to meet the requirement. It also applies to their BMO Smart Advantage account, which has no monthly fee assuming you sign up for paperless statements. On the other hand, the Chase Total Checking bonus is also $300 with similar requirements.

On the savings side, however, BMO is much less competitive. You can only earn up to $60 with their Savings Builder account, and that bonus is paid out over the course of a year, assuming you meet the deposit requirement each month.

By comparison, Alliant Credit Union offers a very similarly structured promotion in that you need to make a deposit each month for a year, but the deposit requirement is half of BMO's at only $100 each month, and the reward is larger. For those with more cash in their savings, you can earn even more: TD Bank offers $200 for depositing $20,000 or Wells Fargo offers $525 for depositing $25,000.

Ultimately, our advice here remains the same as ever: If you're indifferent between one big brand to the next, follow the cash. If BMO offers convenience or customer service that you find valuable, don't let a one-time bonus sway you.