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Last Updated: 04/18/2025

BMO Harris Bank Premier Platinum Money Market Account

from BMO

Last Updated: 04/18/2025

Rating not yet determined2 total votes

1 users recommend

1 users don't recommend

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Highlights

APY (Annual Percentage Yield)

0.05% - 1.9%(Verified 06/21/2024)

Disclaimer popup with additional information

Minimum Balance to Earn APY

$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, a bank founded in 1882 and based in Chicago, IL. BMO Harris Platinum money market account are available in 50 states and Washington, DC.

Key Takeaways

Very high annual percentage yield (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 fee of up to $15, but the fee may be waived if you keep a minimum balance of$2,500.
High minumum opening 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 50 states and Washington, DC.
High-interest yield.
Does not offer mobile check deposits.
Access to physical branches.
Debit card

BMO Harris Bank Premier Platinum Money Market Account FAQ

Are money market accounts from BMO federally insured?

Yes, your deposits are insured 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 Premier Platinum Money Market Account Fees

Description

Monthly Service Fee

$0 - $15

NSF Fee

$36

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 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 account is (888) 340-2265.

How to open an account with BMO

Visit the BMO 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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message from BMO Harris 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.

Contact

Headquarters

320 S Canal St

Chicago, IL 60606

Visit Site

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SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

-1000+100

No one recommends

Everyone recommends

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BMO Harris Bank Premier Platinum Money Market Account Community Reviews

Would you recommend BMO Harris Bank Premier Platinum Money Market Account to your friends?

Ian P.

Sep 20, 2022

May or may not recommend

I have noticed the BMO Harris Bank Platinum Money Market Account has paid out an APY of 0.035% from the beginning of 2021 through August of this year. That is 20 consecutive months of 0.035%. So far in 2022 the Fed has raised the prime rate by how much, how many times? And yet, the APY hasn't changed for 20 straight months. What am I missing here?

Amy W.

Dec 12, 2020

May or may not recommend

I opened a money market account with this company when I came into some inheritance. They were very knowledgeable about how to best invest my money. They showed me various options and provided a financial forecast that I could see how each option may pay off down the line. They didn't try to persuade me to put my money into the account with the highest fees. They really wanted me ...Show More

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