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  BMO Harris Bank Statement Savings Account

BMO Harris Bank Statement Savings Account

in Savings Accounts from BMO Harris Bank · fdic

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BMO Harris Bank Statement Savings Account

Unaffiliated

in Savings Accounts from BMO Harris Bank · Member FDIC

Net Recommendation Score 0

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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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Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.03%
APY Minimum Balance $0.01

BMO Harris Bank Statement Savings Account Review

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

Key Takeaways
  • $5 Bonus offer. Open a new account and you can get up to $5 if you deposit a minimum of $200 (see terms and conditions for more details).
  • Low APY. The maximum annual percentage yield for this account is only 0.03%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $100.
  • No ATM fees. BMO Harris Bank Statement Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through BMO Harris Bank.
BMO Harris savings account Pros & Cons
Pros Cons
  • Offers a $5 bonus offer.
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
  • Monthly service charge.
BMO Harris savings account FAQ

Are savings accounts from BMO Harris Bank federally insured?

Yes, your BMO Harris Bank savings 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.

Does BMO Harris Bank offer a signup bonus?

BMO Harris savings account has a signup bonus of $5 with a $200 deposit.

What is the minimum initial deposit for BMO Harris savings account?

The minimum deposit to open a BMO Harris savings account is $25.
BMO Harris Bank Statement Savings Account Minimums
Description
APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Opening Deposit Starting at $25

What APY does BMO Harris Bank offer?

BMO Harris savings account offers an APY of 0.03% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does BMO Harris savings account charge?

BMO Harris savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $100.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • BMO Harris savings account charges a $50 fee for an early account closure. Contact BMO Harris savings account for more details on what is considered an early closure.
  • BMO Harris savings account charges $5 every time you request a paper statement.

What features and perks does BMO Harris savings account offer?

This savings account includes the following features:

  • Signup bonus - Open an account and you may receive a signup bonus of up to $5 if you deposit a minimum of $200.
  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - BMO Harris savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - BMO Harris savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to BMO Harris savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for BMO Harris savings account?

The customer support email for BMO Harris savings account is servicemembers@bmo.com.

How do people rate the customer service and user experience of BMO Harris savings account?

Overall, BMO Harris savings account is mostly recommended based on community reviews that rate customer service and user experience.

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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.

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 $100
Minimum Opening Deposit Starting at $25
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Early Account Closure $50
Monthly Fee $0 - $5
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $12
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Outgoing) $50
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Member FDIC
Signup Bonus $5
Signup Deposit Requirement $200
APY (Annual Percentage Yield) 0.03%

BMO Harris Bank Statement Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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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