BMO Harris Bonus, Get $200/$350 with New Checking Account (Select States)

January 5, 2021

🛑 This offer has expired. See the full list of available bank bonuses here.

BMO Harris Bonus, Get $200/$350 with New Checking Account

BMO Harris is offering a bonus of $200 or $350 when opening a new checking. 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.

Offer

Get up to a $350 bonus when you open a new 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. Here’s how it works:

Get a $200 bonus when you open a new BMO Harris Smart Advantage™ Account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening OR
Get a $350 bonus when you open a new BMO Harris Premier™ Account and have a cumulative total of $7,500 in qualifying direct deposits within 90 days of opening.

You are only eligible for one bonus; you cannot open both checking accounts and receive both bonuses. 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 bonus you are eligible for. In order to receive the bonus, you must meet the associated criteria for that account.

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 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.

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

Guru’s Wrap-Up

The bonus used to be $500 in the past, but now you can earn $200 or $350. You need a total of $4,000 or $7,500 in qualifying direct deposits. 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”. If you can easily change your direct deposit, then it should be worth doing.

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. There’s also a BMO Harris bonus for business accounts.

Offer Details

Promo Page
Bonus: $200/$350
Account Type: Smart Advantage or Premier
Availability: AZ, FL, IL, IN, KS, MO, MN, WI
Expiration Date: 1/29/21
Type of Inquiry: Soft pull
Direct Deposit Requirement: $4,000 or $7,500 in qualifying direct deposits
Other Requirements: No
Credit Card Funding: Up to $1,000 (Set CA limit to $0 before funding)
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.