BMO (formerly known as BMO Harris Bank) is the 13th largest bank in the U.S., and they maintain more than 1,000 branches. 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:
Relationship Checking
- Bonus Amount
- up to $600
- Account Type
- Personal Checking
- Availability
- Nationwide
- Offer Expires
- October 31, 2024
- Bonus Requirements
-
- Open a new Relationship Checking account online using the link below.
- Within 90 days of account opening, have a total of $7,500 in qualifying direct deposits, earn $500 bonus.
- Get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities.
- Conditions apply. BMO Bank N.A. Member FDIC
at BMO
Personal Checking
- Bonus Amount
- up to $350
- Account Type
- Personal Checking
- Availability
- Nationwide
- Offer Expires
- October 31, 2024
- Bonus Requirements
-
- Open a new BMO Smart Advantage Checking or BMO Smart Money Checking account online using the link below.
- Within 90 days of account opening, have a total of $4,000 in qualifying direct deposits, earn $250 cash bonus.
- Get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities.
- Conditions apply. BMO Bank N.A. Member FDIC
at BMO
Savings Builder
- Bonus Amount
- up to $60
- Account Type
- Personal Savings
- Availability
- Nationwide
- Bonus Requirements
-
- Open a new Savings Builder account using the link below.
- Earn an extra $5 for every month you deposit at least $200 into the account, for up to 12 months.
at BMO
Summary: BMO's Current Bonuses
Here’s a recap of the current BMO promotions and offers that you can claim right now:
Account | Account Type | Amount | Expires | Requirements | |
---|---|---|---|---|---|
Relationship Checking | Personal Checking | up to $600 | Oct 31 | Direct Deposit | Details |
Personal Checking | Personal Checking | up to $350 | Oct 31 | Direct Deposit | Details |
Savings Builder | Personal Savings | up to $60 | Limited Time | Min Balance | Details |
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.
Business Checking - up to $750 bonus (Expired)
Expired: September 9, 2024
BMO previously offered up to $750 for opening a Business Checking account.
To earn the bonus, you needed to:
- Open a new BMO business account online or in branch using the link below.
- 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.
- 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).
- 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.
The steps to earning this bonus were:
- Open a new BMO Relationship Plus Money Market account using the link below.
- 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.
- 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.
Earning this bonus required you to:
- Open a new Elite Business Money Market account online or in branch using the link below.
- 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.
- Maintain the minimum new money balance requirement in your Elite Business Money Market account for the assigned Tier from Day 31 through Day 120.
- 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.
The requirements for this bonus were:
- Open a new Statement Savings account using the link below.
- Earn an extra $5 for every month you deposit at least $200 into the account, for up to 12 months.
Why BMO?
BMO (formerly known as BMO Harris Bank) is headquartered in Chicago, and has about 500 physical locations across 8 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. 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:
302 North Iowa Street
Dodgeville, WI 53533
2005 West Route #34
Plano, IL 60545
50 North Brockway
Palatine, IL 60067
6625 Lyndale Avenue South
Richfield, MN 55423
111 W Monroe St
Chicago, IL 60603
110 East Irving Park Road
Roselle, IL 60172
11301 Nall Avenue
Leawood, KS 66211
503 North Washington Street
Naperville, IL 60563
4711 Monona Drive
Monona, WI 53716
10604 North Il Route 47
Huntley, IL 60142
3225 Kirchoff Road
Rolling Meadows, IL 60008
228 Water Street
Eau Claire, WI 54702
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:
- Open a new account using the correct promo code. That code is applied automatically if you open the account directly from the offer page.
- Receive qualifying direct deposits totaling a minimum dollar amount.
For the business checking account bonus, you'll need to:
- Open a new business account online or in branch.
- Deposit or collect a minimum balance amount.
- 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:
- Open a new Savings Builder account.
- 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!Joseph Lee Robbins BMO Personal Checking Bonus
BMO is good with quick payout of the bonus as soon as the requirements are met.Ankit Jain BMO Business Checking Bonus
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.Tom BMO Personal Checking Bonus
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.Jamon BMO Personal Checking Bonus
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.Alex BMO Relationship Checking Bonus
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 $350 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 Citi Priority Account bonus starts at $500 and up to $1,500 at the highest tier, but requires a significant deposit and has a monthly maintenance fee.
On the savings side, however, BMO is much less competitive. You can only earn up to $60, 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.
BMO Bank Promotions FAQs
How do I find out about new account bonuses from BMO?
You can find most of BMO's active bank offers right on this page. From time to time BMO will also run targeted offers that may vary slightly from what you see here. For those, you'll need to have received the marketing material directly from BMO in order to qualify.
Can I get multiple BMO promotions?
The short answer is no, but there are caveats to that.
Most offers are only available to new BMO customers. But keep in mind that by "new", we mean new for that particular account category.
For example, receiving a BMO Relationship Checking account bonus doesn't keep you from also getting a BMO Business Checking account bonus. It would, however, exclude you from also getting the BMO Smart Advantage Checking offer.
The other thing to keep in mind is that BMO doesn't prevent former customers from re-engaging to take advantage of a new offer. If your old account has been closed for at least a year, you're welcome to enroll in a current BMO promotion. This is a great perk for those who are interested to see whether BMO is now a good fit for their financial needs.
How long does it take to get paid a bonus from BMO Bank?
Account bonus payouts can definitely vary – not only from bank to bank, but even from offer to offer.
For new checking accounts, BMO typically pays the bonus within 120 days from account opening. This is longer than some of the other national banks like Chase, who promises to credit your bonus within 15 days.
For their savings account bonus, the reward accumulates over the course of a year, so you'll receive part of the bonus each month.
Are sign-up bonuses from BMO taxed?
Yes, like all bank bonuses, cash you earn from BMO promotions will be reported to the IRS and taxed as income. Keep this in mind when you're figuring out your total return on any given offer.
How do you get a BMO referral bonus?
Unfortunately, BMO's referral program ended in October 2021. Prior to it shutting down, the program was invite-only, and offered a $50 referral bonus to current BMO clients who referred friends and family.
Now your best bet at earning bonus cash from BMO is through their current promotions aimed at attracting new customers. That's bad news for current BMO clients who have a large network they could have referred, but great for those shopping around for a new bank.