Open a new checking account with qualifying direct deposits, and enjoy a $200 or $500 cash bonus to use as you wish. The accounts can be opened online or in branch. Bonus has been extended until May 31, 2019.
Warning! This bank is a hassle to deal and most likely only real direct deposits will work.
Bonus Requirements
To receive the $200 bonus open a BMO Harris Smart Money Account or BMO Harris Smart Advantage Account and:
- Have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $500 or more each electronically deposited into the account from an employer or outside agency within 90 days of opening AND
- Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard® post to your account within 90 days of account opening.
To receive the $500 bonus open a BMO Harris Premier Account and:
- Maintain your $25,000 balance for 120 days AND
- Have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $500 or more each electronically deposited into the account from an employer or outside agency within 90 days of opening. We reserve the right to request documentation that the direct deposits qualify.
Your account must be open and in good standing when the bonus is credited to the account you opened approximately 120 days after opening.
Eligibility
If you are opening your account online or by phone, you must reside in a state that BMO Harris operates retail branches and use that address to open the account. BMO Harris currently operates retail branches in AZ, FL, IL, IN, KS, MO, MN and WI
Bonus not available to 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.
Fees
BMO Harris Smart Advantage Account has no fees with paperless statements.
BMO Harris Premier Account has a $30 monthly fee waived with:
- $25,000 minimum daily balance
- $50,000 in combined balances with Relationship Waiver
- BMO Harris Financial Advisors, Inc. investment account
Guru’s Wrap-Up
We’ve seen the $200 bonus often, but now there’s also a $500 bonus for the BMO Harris Premier Account. That account has a $30 monthly fee waived with a $25,000 balance which you would need anyway for 4 months in order to get the bonus. That’s a 6% return for your money. Bonus should be awarded right after the 4 months are up.
Some data points in the past show that this might not be the easiest bank to deal with. The account opening used to a bit cumbersome when it was done in branch or by phone and the bonus takes 120 days to post and you’ll need to request it yourself. This means that direct deposits requirement should be met with actual direct deposits. Even in the fine print they note that they “reserve the right to request documentation that the direct deposits qualify”.
You can also fund account with a credit card up to $1,000, which is an added bonus on its own. Most likely this can’t be done in branch, but you can do it online. Se CA limit to $0 or less that the funding amount so you avoid any cash advance fees.
Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. You can also access bonuses available in your state by visiting dannydealguru.com/tag/NY-bank-bonus/. Just replace NY with your state or with “nationwide”.
And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
Offer Details
- Promo Page
- Bonus: $200 or $500
- Account Type: Smart Advantage or Premier Checking
- Availability: AZ, FL, IL, IN, KS, MO, MN, WI
- Expiration Date: 5/31/2019
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: Two direct deposits of $500 or more within 90 days
- Other Requirements: 10 debit purchases for $200 bonus, $25K deposit for $500 bonus
- Credit Card Funding: Up to $1,000 (Set CA limit to $0 before funding)
- Monthly Fee: Can be waived
- Closing Account Fee: Must keep account open for 120 days to receive bonus
