Available in select states within their footprint, BMO Harris is offering up to a $600 welcome bonus when you open a new business checking account and meet the minimum balance requirements. This is a tiered bonus, the higher the balance, the more you can earn. It's worth noting that this bonus is higher than a recent one offered for similar tiers.
What's more? You can earn an extra bonus up to $1,000 when you also open a new BMO Elite Business Money Market account with qualifying activities.How To Earn The Bonus
The BMO Business Checking promotion requires you to deposit and maintain a minimum balance in order to earn the up to $600 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- You are only eligible for one business checking bonus.
- 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.
Open a Business Checking account before the bonus expires on December 8, 2023
How does this business checking offer from BMO compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
U.S. Bank
Business Checking
- Bonus
- up to $800
- Account Type
- Business Checking
- Expires In
- 34 days
- Requires
- Min Balance
- Bill Pay (optional)
- Card Spend (optional)
Chase
Chase Business Complete Checking®
- Bonus
- $300
- Account Type
- Business Checking
- Expires In
- 44 days
- Requires
- Min Balance
- Card Spend (optional)
Axos
Business Interest Checking
- Bonus
- up to $400
- Account Type
- Business Checking
- Expires In
- 26 days
- Requires
- Min Balance
- Bill Pay
- Card Spend
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.
Simple Business Checking
BMO Harris Bank's Simple Business Checking account is aimed at smaller companies that hold lower balances and have fewer transactions. The monthly fee is easy to waive, and the account includes 100 free transactions each month (transactions are non-ATM deposits, checks, and ACH credits and debits) and let's you deposit up to $2,000 in cash each month for free.
Fees
Simple Business Checking does charge a monthly fee of $10, but there are ways to get this waived:
- Maintain an average collected balance of $100.
Premium Business Checking
BMO Harris Bank's Premium Business Checking account is aimed at companies that hold lower balances and have fewer transactions. The monthly fee is easy to waive, and the account includes 200 free transactions each month (transactions are non-ATM deposits, checks, and ACH credits and debits) and let's you deposit up to $5,000 in cash each month for free.
Fees
Premium Business Checking does charge a monthly fee of $15, but there are ways to get this waived:
- Maintain an average collected balance for $1,500.
Elite Business Checking
An interest-earning business checking account that gives you 500 free transactions each month (transactions are non-ATM deposits, checks, and ACH credits and debits), let's you deposit up to $20,000 in cash each month for free, and offers free incoming wire transfers (both domestic and foreign).
Fees
Elite Business Checking does charge a monthly fee of $20, but there are ways to get this waived:
- Collect at least $5,000.
- OR, maintain a combined monthly balance of $15,000 in linked accounts under a Relationship Waiver (the accounts are not automatically linked, you MUST take this step).
Digital Business Checking
BMO Harris Bank's Digital Business Checking account is aimed at companies that are digital-first when it comes to banking. You'll get unlimited free ACH transactions and incoming wire transfers. The monthly fee is easy to waive, and let's you deposit up to $1,000 in cash each month for free.
Fees
Digital Business Checking does charge a monthly fee of $10, but there are ways to get this waived:
- Maintain an average collected balance of $500.
Apply now for a Business Checking account to earn the up to $600 bonus offer
Share Your Thoughts or Questions
There have been 5 comments about the BMO Business Checking up to $600 Bonus.
bb8
3 weeks agoDoes anyone know if this one can be combined with the personal checking bonus they offer?
ReplyReply to bb8
Ankit Jain
1 month agoBMO is good with quick payout of the bonus as soon as the requirements are met. This is also churnable in 12 months time so do not forget to meet the requirements quickly and close the account as soon as the bonus hit the account.
ReplyReply to Ankit Jain
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