BMO Harris Bonus, Get Up to $460 with New Checking/Savings

BMO Harris Bonus with New Checking/Savings

🔃 Update: This BMO Harris bonus is available again for a maximum bonus of $460. You get up to $400 with a new checking account and up to $60 with a savings account. Offer valid between December 11, 2023 and May 3, 2024.

BMO Harris is offering a bonus of up to $560 for new checking and savings accounts. You can apply online, at a branch or by calling 1-866-362-1166. Direct deposit is required and based on previous deals, they are strict about the requirement. You can get up to $500 with your new checking account and another $60 with a new savings account. Check out the details of this BMO Harris bonus below.

The Offer

• Checking Offer (up to $400)

  • Get up to a $400 cash bonus when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ Account, or BMO Harris Premier™ Account and have qualifying direct deposits of a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into the account from an employer or outside agency. We reserve the right to request documentation that the direct deposits qualify.
    • Get a $250 cash bonus when you open a new Smart Money or Smart Advantage account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening. OR
    • Get a $400 cash bonus when you open a new Premier Account and have a cumulative total of $7,500 in qualifying direct deposits within 90 days of opening.
  • 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. The checking account type you have on Day 90 will determine which cash bonus you are eligible for. In order to receive the cash bonus, you must meet the associated criteria for that account. Cash bonus is paid into the checking account approximately 100 days after account opening.

• Savings Offer (up to $60)

  • For every month your Savings Builder account balance grows by at least $200, we will credit the account with a $5 savings reward within 5 calendar days after the end of the month. To calculate if your balance has grown by $200, we will compare the Ledger Balance on the last Business Day of the previous month to the Ledger Balance on the last Business Day of the current month. Interest and savings reward payments will not count towards your balance growth.
  • Your account is eligible for 12 savings rewards beginning with the month your account is opened. The first savings reward is based on your savings growth from the Business Day the account is opened through the last Business Day of that month. If your initial deposit is not received until the month after the account opening, the account will only be eligible for 11 savings rewards.

Before you apply at a branch or by phone, enter your email and click “Send My Promo Code” to receive the promo code you must use when opening your accounts.

Who Is Eligible?

• 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. This offer is now available nationwide.
• You are only eligible for one checking cash bonus; you cannot open multiple checking accounts and receive multiple cash bonuses.
• Offers are not available for 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.
• Savings rewards are available for new accounts only. An account switched into Savings Builder from a different product is not eligible for savings rewards. You are not eligible to receive savings rewards if you have previously opened a Statement Savings account between February 3, 2020 and October 18, 2021 and participated in the Statement Savings account – Savings Rewards offer.

Account Fees

BMO Harris Smart Advantage Account has no fees with paperless statements.

BMO Harris Premier Account has a $25 monthly fee that is waived with:

• $10,000 minimum daily balance OR
• $25,000 in combined balances with Relationship Waiver OR
• BMO Harris Financial Advisors, Inc. investment account

Savings Builder has no monthly fees.

Guru’s Wrap-Up

This is a much better offer than what we saw a couple of months ago, and the requirements are still the same. You need a total of $4,000 or $7,500 in qualifying direct deposits for the $300 and $500 bonus respectively. 

You most likely need to use actual direct deposits for this bonus. Even in the fine print they note that they “reserve the right to request documentation that the direct deposits qualify”. If you can easily change your direct deposit, then it should be worth doing. The account opening process sometimes is not very smooth. It also takes about 4-5 months for the checking bonus to post.

You can also open a new Statement Savings account and earn a $5 reward every month you save $200 or more. You can do this for 12 months for a total of $60.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

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💡 Link & Key Details

• OFFER PAGE
• Max Bonus: $460
• Account Type: Checking and Savings
• Availability: Nationwide
• Type of Inquiry: Soft pull
• Direct Deposit Requirement: $4,000 or $7,500 in qualifying direct deposits
• Other Requirements: Save $200 every month for Savings bonus
• Credit Card Funding: No
• Monthly Fee: None or $25
• Closing Account Fee: $50 fee if the account is closed within 90 days. Plus must keep account open for 120 days to get bonus.
• Expiration Date: 9/30/22 9/15/23 5/3/24.

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