BMO Harris

All in all

BMO Harris Platinum Money Market Account offers a competitive yield. Although the minimum balance requirement of $5,000 is higher than other accounts, it is worth looking into if you have that amount to deposit.

What we like

  • BMO Harris owns an ATM network with more than 1,500 ATMs. It also partners with the extensive Allpoint ATM network.
  • It offers a competitive APY for its Platinum MMA.
  • A $25 minimum deposit is required to open a Statement Savings account.
  • By keeping at least 0 in your Statement Savings account, you can avoid paying a monthly fee.

What we don’t know

  • Some banks require a lower minimum balance to open a high-yield bank account.
  • To get the highest rate, you must have at least,000 in Platinum MMA.
  • Only eight states have brick-and-mortar BMO Harris locations.

Savings accounts

Online access to the BMO Harris Statement Savings account can be made nationwide. $25 is the minimum deposit required to open the account.

To waive the monthly maintenance fees, you must maintain a minimum daily ledger balance (not less than $100). If you are under 25 years of age, the maintenance fee is waived. These are the best ways to avoid paying the monthly maintenance fee.

However, the APY is still well below the national average for all balances. This means that savers have better options.

What we like

What we don’t know

  • Other banks offer higher-yielding options.
  • If you close your Statement Savings account less than 90 days after opening it, you will be charged

Money market accounts

The Platinum Money Market Account provides a decent annual percentage yield. These APYs can be found in all 50 states, including Arizona, Florida, and Illinois. Accessibility features include check-writing privileges, an ATM card, and other money market account benefits.

What we like

  • Platinum MMA is available without a monthly maintenance fee.
  • Platinum MMA is eligible for check-writing privileges
  • With the Platinum MMA, you can withdraw cash from any ATM.
  • Check images are included in the Platinum MMA account statement.

What we don’t know

  • To earn the highest APY, you must have at least $250,000 in your account.
  • If the account is closed in less than 90 days, there will be a fee.
  • A minimum balance of $5,000 is required.
  • Transactions on non-BMO Harris ATMs are subject to a $3 charge
  • In states with BMO Harris branches, the Platinum MMA might pay less interest.

CD rates

BMO Harris offers CDs with terms that range from 3 months to 5 years. Yields will vary depending on market conditions and how much you deposit to the account.

A 12-month CD will give you a competitive rate if you deposit more than $5,000. The payout is significantly reduced if you deposit less than $5,000 in a 12-month CD.

However, it is possible to get a higher yield in some cases by using a CD special.

Many types of CDs are available at the bank, including an add-on CD that allows account holders to make multiple deposits. CDs can also be ordered online, by phone, or at a branch.

What we like

  • All standard terms are accepted for CDs.
  • Most CDs require a relatively small minimum deposit.
  • CDs on this website are available in all 50 states.

What we don’t know

  • Depending on where you live, yields could be lower.

Account checking

All balances above zero are eligible for interest in the BMO Harris Premier Account. A balance of $5,000 or greater is eligible for the best rate.

You can open an account online or in a branch. A $25 minimum deposit is required. If the minimum daily balance is less than $10,000, a $25 maintenance fee will be charged. If the minimum daily balance falls below $10,000, the fee is waived.

The BMO Harris Smart Advantage has no monthly fees, and the BMO Harris Smart Money Account has a $5 maintenance fee. These are non-interest-bearing checking accounts. Each account can be opened with a minimum $25 deposit.

What we like

  • The BMO Harris Premier checking accounts offer tiered interest rates on all balances greater than zero.
  • Low opening deposit requirements for interest-bearing Premier Checking
  • Online opening of the account is possible.
  • BMO Harris Premier checking will give you $25 per month in rebates for ATM surcharge fees

What we don’t know

  • Premier checking charges a $25 maintenance fee per month unless at least $10,000 in balance.

Bank experience

BMO Harris Bank combines the best of both in-person and digital banking functions.

BMO Harris Bank boasts an extensive ATM network that includes more than 1,500 ATMs. The bank also partners with Allpoint to give customers access to thousands of ATMs throughout the country. The bank has over 500 branches that offer customers in-person banking.

BMO Harris offers online and mobile banking. You can schedule and set up automatic payments. You can manage all of your accounts (even non-BMO Harris) in one place with the bank’s Total Look tool. It also allows you to create a budget, track your spending, and keep track of your expenses.

BMO Harris allows peer-to-peer payments via Zelle. You can reach a representative at the bank’s customer service line 24/7.

About BMO Harris

BMO Harris, headquartered in Chicago, has over 500 branches in eight US states. Customers have access to over 43,000 ATMs. It has branches in Arizona, Florida, Illinois, Indiana, Kansas, and Minnesota. Missouri, Wisconsin, and Kansas.

BMO Harris is the parent company of The Bank of Montreal, while BMO Financial Corp. serves as its U.S. holding firm.


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I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

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