BMO Harris Bonus, Get $250 with Checking and Money Market Accounts
BMO Harris is offering a bonus of up to $250 when opening a new checking and money market account. You can apply online, at a branch or by calling 1-866-362-1166. This is a big drop from the $500 bonus they had recently. Requirements have gotten a bit easier also.
Warning! This bank is a hassle to deal and most likely only real direct deposits will work.
Bonus Requirements
There’s two part to this $250 bonus:
- Offer 1 – Get a $150 bonus for completing the following activities with your new checking account in the first 150 days:
- Have a total of at least $3,000 in qualifying direct deposits.
- Enroll in BMO Digital Banking and set up paperless statements.
- Make at least 10 qualifying transactions.
- Offer 2 – Get an extra $100 when you open a Platinum Money Market account, deposit at least $10,000 in new money within 30 days and keep it for 90 days. The account earn either 0.50% or 1.70% depending on your location.
Before you apply at a branch or by phone, enter your email and click “Send Me My Coupon Above” to receive the promo code you must use when opening your accounts.
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
Offers 1 and 3 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.
Offers 2 and 3 are not available for existing BMO Harris money market customers (including signers on joint accounts) or those who have closed a BMO Harris money market account within the past 12 months.
Fees
BMO Harris Smart Advantage Account has no fees with paperless statements.
Platinum Money Market doesn’t have any monthly fees.
There’s a $50 fee if the account is closed within 90 days. Plus your account must be open and in good standing when the bonus is paid approximately 120 days after opening.
Guru’s Wrap-Up
The bonus used to be $500, so it’s now halved. The checking account and the money market account have no fees. You need a total of $3,000 in qualifying direct deposits and 10 debit transactions for the checking bonus and $10K for 90 days in the Money Market account to get an extra $100. Definitely not as good as it used to be.
Also, some data points in the past show that this might not be the easiest bank to deal with. The account opening process sometimes is not very smooth. It also takes 120 days for the bonus 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. Most likely this can’t be done in branch, but you can do it online. Set CA limit to $0 or less that the funding amount so you avoid any cash advance fees.
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.
Offer Details
- Promo Page
- Bonus: $250
- Account Type: Smart Advantage and Platinum Money Market
- Availability: AZ, FL, IL, IN, KS, MO, MN, WI
- Expiration Date: 10/31/2019
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: $3,000 in qualifying direct deposits
- Other Requirements: 10 debit purchases for $150 bonus, $10K deposit for additional $100
- Credit Card Funding: Up to $1,000 (Set CA limit to $0 before funding)
- Monthly Fee: None
- Closing Account Fee: $50 fee if the account is closed within 90 days.Plus must keep account open for 120 days to get bonus.
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