BMO Harri sis offering a bonus of up to $500 when opening a new checking and savings account. The accounts can be opened online or in branch.
Warning! This bank is a hassle to deal and most likely only real direct deposits will work.
Bonus Requirements
$300 Bonus – Open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ Account, or BMO Harris Premier™ Account between April 1, 2019 and July 1, 2019 and:
- Have at least two direct deposits of $500 or more each within 90 days
- Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard post to your account within 90 days
$200 Bonus – Open a new Statement Savings account between April 1, 2019 and July 1, 2019 and:
- Have an opening deposit of $10,000 or more of funds not currently on deposit at BMO Harris Bank or its affiliates
- Maintain at least $10,000 in the account for 90 days.
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.
Statement Savings account has a $5 monthly maintenance fee waived if:
- You have $100 or more minimum daily Ledger Balance in this account for the month
- The Primary Account Owner is under 25 years of age
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
Pretty good bonus for opening a checking and banking account. The checking account has no fee and the savings account has a $5 fee that’s easily waived. You need two $500+ direct deposits and 10 debit transactions for the checking bonus and $10K balance for 90 days for the savings bonus.
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. Set 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. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
Offer Details
- Promo Page (Update: also slightly different bonus here)
- Bonus: $300 or $500
- Account Type: Smart Advantage and Statement Savings
- Availability: AZ, FL, IL, IN, KS, MO, MN, WI
- Expiration Date: 7/1/2019
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: Two direct deposits of $500 or more within 90 days
- Other Requirements: 10 debit purchases for $300 bonus, $10K deposit for $500 bonus
- Credit Card Funding: Up to $1,000 (Set CA limit to $0 before funding)
- Monthly Fee: No fee for checking account. $5 for savings, Can be waived
- Closing Account Fee: $50 fee if the account is closed within 90 days.Plus must keep account open for 120 days to get bonus.
HT: DoC
