Open a new checking account with qualifying direct deposits, and enjoy a $200 cash bonus to use as you wish. BMO Harris has extended this bonus again, until the end of December. You need to request a code online and mention the promo code in the email sent to you at account opening, which can only be done at BMO Harris Branch or by calling 1-866-362-1166 to complete the application after you do it online initially.
Warning! This bank is a hassle to deal and most likely only real direct deposits will work.
Bonus Requirements
To receive the bonus
- Request promo code online
- Open one of the following accounts with a $100 minimum opening deposit by December 31, 2017:
- BMO Harris Everyday Checking
- BMO Harris Select Checking or
- BMO Harris Portfolio Checking
- Have at least two direct deposits of $300 or more within 90 days of 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 Everyday Checking is the best option. The account comes with a $12 monthly fee that can be waived with one of the following options:
- You have Incoming External Deposits into this account totaling $500 or more during the statement period
- You have kept a $1,000 minimum daily Ledger Balance in this account
- You have requested we link this account to a BMO Harris Select Checkingor BMO Harris Portfolio Checkingaccount to receive benefits under Relationship Waiver and meet the Combined Balance requirement for the BMO Harris Select Checking or BMO Harris Portfolio Checking account
- You have requested we link this account to a Wealth Checking Account to receive benefits under Relationship Waiver and meet the Average Daily Balance requirement
- You are a college student and request a student fee waiver
Guru’s Wrap-Up
This is a nice bonus but the hassle here is that you can’t open the accounts online. If you have a branch nearby that must be the best bet, otherwise you need to finish the application over the phone, and they get into lots of details with their questioning.
Lots of data points (including Mimi below) show that this might not be the easiest bank to deal with. The account opening is a bit cumbersome 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.
Offer Details
- Request Coupon Code
- Account Type: Everyday Checking
- Availability: AZ, FL, IL, IN, KS, MO, MN, WI
- Expiration Date:
4/27/20179/30/201712/31/2017 - Type of Inquiry: Soft pull
- Direct Deposit Requirement: Two direct deposits of $300 or more within 90 days
- Other Requirements: None
- Credit Card Funding: Up to $1,000 (Set CA limit to $0 before funding)
- Monthly Fee: $12 but can be waived
- Closing Account Fee: Must keep account open for 120 days to receive bonus
Email us if you find any similar offers!
Actually, this can be opened online but this offer is not nationwide as stated above but limited to states that they have retail branches in.
From the link above to their website:
“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”.
I also called and emailed them to see if I could get the bonus if I applied in a branch while visiting one of the listed states but they said no, you have to reside in one of the listed states.
Thank you. I’ll update. Missed that part. I thought a phone call was enough too complete account opening.
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There’s a lot of DPs on Doc now, many are still waiting on their bonus from March and some have already been told their ACH transfer from another bank did not qualify as DD. I was told this when opening the account so I’m not surprised they ENFORCED qualified DD according to THEIR terms. Some of those with legit DDs also have to fight to get their bonuses after 120 days.
I closed my account right after my bonus posted. I have removed this bank from my list of churn-able banks. LOL
Thanks Mimi, I’ll update. I guess they got stricter since last year.
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As a data point, I did the $250 bonus with BMO Harris last year and a transfer from Ally Bank triggered the bonus about 40 days after the transfer. That would give someone enough time to try a bank ACH transfer before setting up a “real” direct deposit within 90 days to see if you get the bonus. Might be worth it to see if it works for you. And yes, they are a hassle to deal with, but once setup, had no problems with them.
How did you open account? by phone or you have branch close?
I called them to apply. They sent me confirmation that I was approved that took about 5 days to get to me. After I received the confirmation from them, they requested the signature card, copy of my driver’s license and the e-mail confirmation of the promo bonus code be mailed to them along with a check for the opening deposit. Took a couple more days to get online banking setup and my check to show deposited.
Thanks for DP Ralph
You’re welcome.
Is there actually a widely-accepted definition of just what constitutes — or does not constitute — a direct deposit?
stay away from this bank. it’s nothing but headaches
It’s dannydealguru at gmail.com by the way
I opened this account over the phone last month and it felt like third degree questioning….no kidding. For those who cannot come up with REAL direct deposits that satisfies them, think twice before opening this account. I was told by the banker that ONLY real DD will trigger the bonus and they reserve the right to ask for documentation when in doubt. Therefore, for those who are planning to use ACH from another bank hoping it’ll qualify, don’t be surprise later if they refuse to give you the bonus. Just know you’re taking a risk, we never know if they’ll really enforce their terms to ask for documentation.
I asked if I can use a CC for the initial deposit and was told to wait for my welcome packet with the accompanying envelope to put my personal check for the initial deposit. It may be different now but that’s my experience with the initial deposit. Once they received the deposit, it took a week for it to clear and become available for withdrawal.
My personal assessment of this bank is it’s not one of those I’ll keep open after I get my bonus.
Thank yo so much Mimi for the detailed info. I have yet to have an account with them, so I was just going by DPs i was reading online. I’ll update the post with a stronger worded warning.
you’re welcome Danny, I follow your blog.
Is there anyway to contact you via email? I searched for a link but couldn’t find it. I’d like to contribute to your blog to thank you for valuable info you share.
Thanks Mimi I really appreciate that. There’s a link for email on the page, just under that long vertical ad on the right side. Along with Twitter, Facebook etc icons. I had the same question asked a few days ago. I guess it’s hard to find. I should make it more visible. I’ve also started posting a link to my email at the end of some posts, mainly the bank deals.