BMO Harris Elite Business Checking $500 Bonus

BMO Harris is offering a $500 welcome bonus to new business checking account customers. New to this bonus is the ability to open online with an instant decision. The requirements are easy to meet and a solid return for their deposit requirements.

If you don't have $5,000 to deposit, check out the $200 welcome offer they're also running for opening a Premium Business Checking account instead.

How To Earn The Bonus

The BMO Harris Elite Business Checking promotion requires you to deposit and maintain a minimum balance, and optionally, make purchases using the account's card and set up bill pay in order to earn the $500 bonus.

Full requirements to receive this bonus are:

1. Use the link below to apply online with the promo code already attached or to receive a promo code by email to open in-branch.
2. Open a new Elite Business Checking account.
3. Within 30 days, deposit $5,000 and maintain that balance for 90 days.
4. Within 90 days of account opening, make 10 electronic transactions (debit card purchases, ACH credits or debits, online bill pays, mobile deposits, or wire transfers).

The fine print

• Bonus will post to your account approximately 130 days after account opening.
• Not available to existing business checking customers or to those who have closed a BMO Harris business checking account within the past 12 months.
• The electronic transactions can be any combination of: ACH credits or debits, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions. ATM transactions and POS credits do not qualify.

How does this business checking offer from BMO Harris compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

Chase

Chase Business Complete Banking℠

Bonus

$300

Account Type

Business Checking

Expires In

58 days

Requires

• Min Balance
• Card Spend (optional)

Full Details

U.S. Bank

Business Checking

Bonus

$500

Account Type

Business Checking

Expires In

33 days

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

Live Oak

Live Oak small business checking

Bonus

$150

Account Type

Business Checking

Expires In

10 days

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

Why BMO Harris Bank?

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 in our BMO Harris Bank review

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).

BMO Harris Bank 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.

Fortunately, BMO Harris Bank has a total of 527 branches in the United States.

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