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  BMO Harris Bank Premier Platinum Money Market Account

BMO Harris Bank Premier Platinum Money Market Account

in Money Market Accounts from BMO Harris Bank · fdic

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BMO Harris Bank Premier Platinum Money Market Account

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in Money Market Accounts from BMO Harris Bank · Member FDIC

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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APY (Annual Percentage Yield) 0.05% - 1.9%
APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $2,500

BMO Harris Bank Premier Platinum Money Market Account Review

BMO Harris Bank Premier Platinum Money Market Account is offered by BMO Harris Bank, a bank founded in 1882 and based in Chicago, IL. BMO Harris Bank Premier Platinum Money Market Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 1.9%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
  • Charges a monthly fee. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $2,500.
  • High minumum deposit. You must deposit a minimum of $2,500, which is high compared to most money market accounts.
Pros & Cons of BMO Harris Bank Premier Platinum Money Market Account
Pros Cons
  • Available in all 50 states.
  • High-interest yield.
  • Does not offer mobile check deposits.
  • Access to physical branches.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Monthly service charge.
BMO Harris Bank Premier Platinum Money Market Account FAQ

Are money market accounts from BMO Harris Bank federally insured?

Yes, your BMO Harris Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for BMO Harris Platinum money market account rates?

BMO Harris Platinum money market account offers an APY starting at 0.05% and ranging up to 1.9% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

BMO Harris Platinum money market account Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.05% - 1.9%

What are the fees for BMO Harris Bank Premier Platinum Money Market Account?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $2,500.

BMO Harris Bank will charge you a $15 fee if you exceed your maximum number of monthly transactions.

BMO Harris Bank Premier Platinum Money Market Account Fees
Fees Amount
Monthly Fee up to $15
Paper Statement Fee N/A
Excess Transaction Fee $15

What is the minimum balance for BMO Harris Platinum money market account?

Minimum deposit of $2,500. You must make an initial deposit of at least $2,500 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $2,500.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does BMO Harris Platinum money market account offer?

This account includes the following features:

  • Check images with statement - Reconciiling your account and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - BMO Harris Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - BMO Harris Platinum money market account allows you to manage your money through online banking and a dedicated mobile app.
  • Nationwide ATM network - BMO Harris Platinum money market account allows you to access your money from an ATM, a convenient feature only a few offer.

What is the customer service phone number?

The customer service number for this business card is (888) 340-2265.

What is the support contact email?

The support contact email for this business credit card is servicemembers@bmo.com.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

How to open an account with BMO Harris Bank

  • Visit the BMO Harris Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Message From BMO Harris Bank Premier Platinum Money Market Account

North America's eighth largest bank by assets, BMO serves more than 12 million customers through three integrated operating groups providing personal and commercial banking, wealth management and investment services. Building on 203 years of experience (and counting), we're globally minded and socially conscious, with a strong brand, distinctive capabilities and a clear, well-defined strategy. We're proud of our bank's highly engaged workforce and award-winning collaborative culture. BMO employees are dedicated to transparency, sound governance and the highest standards of ethical conduct – values that form the foundation of trust and cement the lasting connections we create with our customers, our communities and each other.

A money market account is a type of savings account, and it functions in much the same way as other deposit accounts. You'll earn interest on the money that you save in your account. Plus, you get the flexibility to withdraw money from the account when you need to. Our Premier Money Market account may also offer interest rate increases when you bundle it with a BMO Harris Premier Account. The more money you deposit across your BMO Harris accounts, the higher your interest rate can be.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $2,500
Minimum Opening Deposit Starting at $2,500
Monthly Fee $0 - $15
NSF Fee $36
Account Features
  • No ATM Fees
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Debit Card
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.05% - 1.9%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

BMO Harris Bank Premier Platinum Money Market Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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