BMO Alto Bank Review 2025
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Edited by
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At a glance
Overview
Without ATM access, a mobile app or mobile check deposit, BMO Alto is best for those looking to store cash in a no-frills account, and those comfortable solely banking online through the bank’s secure website.
Highlights:
No Min Deposit No Min BalanceHighlights:
CDs
Savings
Customer Experience
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.1/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
BMO Alto offers solid yields and nationwide availability. There are no monthly service fees and no minimum balance requirements, so the accounts are very accessible for all types of savers.
If you’re someone who relies on mobile check deposit, the savings account doesn’t currently offer that feature. So you’d need to deposit a check into another account and transfer that money over to your BMO Alto Online Savings Account.
Pros
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BMO Alto’s savings APY is competitive, and the account doesn’t charge any monthly fees.
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BMO Alto is available nationwide.
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Both BMO Alto’s savings account and CDs don’t require a minimum opening deposit or minimum balance.
Cons
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There’s no BMO Alto app available at this time.
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BMO Alto doesn’t offer mobile check deposit or a debit card.
BMO Alto bank products
BMO Alto Online Savings Account
Pros
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The savings yield is competitive.
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There’s no minimum opening balance, and the account doesn’t have an ongoing minimum balance requirement either.
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There are no monthly fees.
Cons
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The BMO Alto Savings Account doesn’t currently support mobile check or in-person cash deposits.
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There’s no ATM access.
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You’ll need to fund the account in 90 days, or your account will be closed.
Rate history for BMO Alto's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
BMO Alto Online Certificates of Deposit
Pros
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BMO Alto CDs offer solid yields.
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A handful of terms are available.
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BMO Alto CDs are available nationwide.
Cons
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BMO Alto doesn’t offer specialty CDs.
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While solid, BMO Alto CD yields are on the lower end of the competitive spectrum.
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Only one term is shorter than one year.
Rate history for BMO Alto's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Customer experience
Customer support. BMO Alto offers support over the phone from 7 a.m. to 11 p.m. Central time on weekdays and 8 a.m. to 10 p.m. Central time on weekends.
Mobile banking. BMO Alto currently doesn’t offer a mobile app, which also means the bank doesn’t offer mobile check deposits. All banking is done through the bank’s website, which supports most web browsers.
Bankrate staff insights
"I chose BMO Alto's savings account because of its competitive rate compared to others in the market," said a Bankrate staff member with a personal account. “However, I have also been impressed with BMO Alto's customer service and ease of transfers. It has been fairly easy to move money in and out of the account. I also had an instance of getting locked out of my account (user error), and called customer service and was quickly connected with a representative who helped me get back into my account within 10 minutes. I would recommend this savings account.”
The above images were last updated on Jan. 23, 2024.
How BMO Alto compares to other banks
Compare different account types offered by BMO Alto. Annual percentage yields (APYs) shown were updated between March 13 and March 19, 2026.
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Selected bank
BMO Alto savings account
Bankrate score
4.2
Bankrate Savings rating = 4.2/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Citizens Bank savings account
Bankrate score
2.5
Bankrate Savings rating = 2.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between March 13, 2026 and March 19, 2026.
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| 3.15% | 0.01% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,575 | $5 | |
| BMO Alto’s Online Savings Account earns a competitive yield. This nationally available account doesn’t charge a monthly service fee, and there’s no minimum balance requirement. | Citizens Access offers a high-yield savings account with a minimum opening deposit of just one cent. This online bank doesn’t charge monthly service fees and offers a highly rated mobile app. | |
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N/A
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APY offering:
3.15%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Poor
2/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
No
0/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
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APY offering:
0.01%
1/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$4.99
4/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$200.00
3/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Great
5/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
No
0/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
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APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The minimum deposit amount a financial institution requires in order to open a savings account.
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
Bankrate does not currently track additional product details for this bank.
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Do you have experience with BMO Alto? Let us know your thoughts.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
