BMO Bank Review 2025

BMO’s products and services are geared toward a broad range of customers both in the U.S. and globally, from modest income earners to the wealthy. The bank maintains more than 1,000 branches, and many of its deposit accounts can also be opened online. While the bank offers a full suite of banking and loan products, yields on some of its deposit products are below average.

BMO Bank banking products

BMO Bank Savings Builder account

Savers can open BMO's Savings Builder account online or in a branch with a deposit of just $25. As of writing, account-holders get a $5 reward in any month their account grows by at least $200 during the first year it's open. With no monthly maintenance fee and free transactions in BMO's ATM network, there's less chipping away at your savings. Unfortunately, this account's APY is minimal and far below the national average. The best high-yield savings accounts can offer you many times the earnings.

BMO Bank certificates of deposit (CDs)

BMO offers 10 different standard CD terms ranging between three months and five years, plus a handful of promotional terms. That flexibility extends to your options for opening a CD, which you can do online, over the phone or at a branch. The minimum deposit is a middle-of-the-road $1,000. While yields on BMO's promotional CDs are higher than yields on standard terms, neither is particularly impressive compared to what other banks offer.

BMO Bank Growth Money Market account

BMO's Growth Money Market account earns an above-average APY for savers with at least $25,000 deposited, though you can find significantly higher yields at some competitors. For its best rates, you'll need a checking account with BMO. The modest $10 monthly maintenance fee is waived for the first 60 days and on an ongoing basis if you keep at least $5,000 in the account.

Customers enjoy unlimited withdrawals and transfers in branches, at ATMs and by several other methods. Other transaction types, such as those made by check, wires, BMO Digital Banking or Bank By Phone, are limited to six per month with a $15 fee for additional transactions. 

BMO Bank Smart Advantage Checking account

BMO's Smart Advantage checking account doesn't earn interest but offers easy access to your money with no maintenance fees. All new accounts come with a debit card. If you opt for one of BMO's five sports team-themed cards (with options like the Chicago Bulls and Milwaukee Bucks), you'll enjoy discounts on that team's merchandise and other perks. One final perk: BMO does not charge its $15 overdraft fee if your account is overdrawn by $50 or less by the end of the second business day after the item is presented for payment. That means you have at least one day to add money to your account.

BMO also offers other checking account options.

Compare different account types offered by BMO. Annual percentage yields (APYs) shown were updated between Nov. 27, 2025 and Dec. 3, 2025.

Customer support

Branch availability. BMO has a limited brick-and-mortar presence, with approximately 1,000 branches across 24 states.

Service hours. The customer service line is open for general inquiries from 7 a.m. to 11 p.m. CT on weekdays and 8 a.m. to 10 p.m. CT on weekends. However, card issues can be reported at any time of day. There is also an online customer support form. “BMOs support team was helpful,” said a Bankrate staff member with a BMO account. “It was easy to get in touch with a real person, and they were knowledgeable about both the features of their application and the laws and regulations regarding the transferring of money.” 

Cash bonus. As of this writing, BMO is offering a $400 cash bonus to those who open either a Smart Advantage or a Smart Money checking account and meet direct deposit requirements within the first 90 days.

Digital experience

Highly rated app. BMO Bank’s mobile app has a high rating on the Apple App and Google Play stores. Collectively, more than 150,000 users have rated the app. It offers digital tools needed to monitor and manage accounts. The bank's Total Look tool lets you manage all your accounts, even non-BMO accounts, in one place, create a budget and track your spending. BMO also allows peer-to-peer payments with Zelle.

However, a Bankrate staff member with a BMO account noted that the app can be buggy at times. “The app had some odd quirks when transferring money to external accounts,” the staff member said. “Depending where you clicked that option, you would potentially get an error stating ‘this feature is not available for your account.’” Moreover, this staff member’s tax forms weren’t uploaded to the website or app, even though they should’ve been available.

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

The above images were last updated on March 13, 2024.