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Are you in search of ways to give your savings a boost? BMO has an exciting opportunity for those looking to grow their finances. With the potential to earn up to $400 in cash bonuses across three different accounts, BMO offers customers multiple avenues for financial growth.
To secure your new customer bonus, simply open a qualifying account by May 3, 2024 using the designated promo code, then receive qualifying direct deposits within 90 days of account opening.
It's a straightforward offer that could help you save up for a big purchase or pay down existing debts, all while enjoying the benefits of a BMO checking account. And while you'll need a lot of cash on-hand to qualify for the $400 cash bonus associated with BMO's Premier Checking account, the $250 bonus offered for BMO's other accounts is still competitive with the best bank bonuses currently available.
BMO Checking Accounts
| Account | Intro Bonus | Monthly maintenance fee | Learn More |
|---|---|---|---|
|
|
$250Expires May 3, 2024
Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days. Expires May 3rd, 2024. |
$0 | Open Account |
|
|
$250Expires May 3, 2024
Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days. Expires May 3rd, 2024. |
$5 with option to waive
Customers under the age of 25 are not required to pay this account's $5 monthly maintenance fee. |
Open Account |
|
|
$400Expires May 3, 2024
Earn a $400 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days. Expires May 3rd, 2024. |
$25 with option to waive
To waive this account's monthly fee, maintain a minimum balance of $10,000 or more (or $25,000 across eligible BMO accounts) |
Open Account |
How to Earn $250-$400 Bonus
The BMO checking account offers present an excellent opportunity to earn a cash bonus worth up to $400. Currently, there are three BMO checking accounts that feature new customer bonuses, though the requirements to earn each bonus varies a little depending on the account.
- BMO Smart Advantage Checking: Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days.
- BMO Smart Money Checking: Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days.
- BMO Premier Checking: Earn a $400 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days.
Regardless of which bonus you're interested in, you have until May 3, 2024 to take advantage of the offer. It's also worth noting that BMO defines qualifying direct deposits as salary deposits or other personal income electronically deposited into your account from an employer or similar third party. Debit card credits or transfers via Account to Account or Peer to Peer services like Zelle® or Venmo do not qualify.
- Open a New Account by May 3, 2024: The following three BMO checking accounts all feature new customer bonuses:
Here's what you need to know:
- Qualifying Direct Deposits: To be eligible, you must have qualifying direct salary deposits or other personal income electronically deposited into your account from an employer or similar third party. Debit card credits or transfers via Account to Account or Peer to Peer services like Zelle® or Venmo do not qualify.
- Bonus Tiers:
- $400 cash bonus: Open a new Smart Money or Smart Advantage account and accumulate $4,000 in qualifying direct deposits within 120 days.
- $600 cash bonus: Open a new Relationship Checking account and accumulate $7,500 in qualifying direct deposits within 120 days.
Bottom Line
Unlocking bonuses with BMO's checking accounts opens doors to financial rewards. Whether you're looking for a Relationship account to provide you with a premium banking experience, or opening up your very first checking account, BMO has an account – and a bonus offer – for you.
BMO Smart Money Checking Account
- Our Rating 3.5/5 How our ratings work
- APYN/A
- Minimum
Deposit Required$25 -
Intro Bonus
$250Expires May 3, 2024
Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days. Expires May 3rd, 2024.
BMO's Smart Money Checking account doesn't charge a monthly maintenance fee for anyone under the age of 25, or any overdraft fees. Couple that with an attractive sign-up bonus and you have a solid account with more than a few considerate features aimed at younger customers.
Overview
If you’re under the age of 25, you may want to consider BMO’s Smart Money Checking account. This account doesn’t charge younger customers a monthly maintenance fee, and also doesn’t charge any overdraft or insufficient funds fees. However, be aware that older customers must pay a $5 monthly service fee, and once you age out of the fee waiver there’s no other way of avoiding it.
Pros
- Generous sign-up bonus
- No overdraft fees
- Large fee-free ATM network
Cons
- Customers over 25 cannot waive monthly fee
- Minimum opening deposit required
BMO Smart Advantage Checking
- Our Rating 4/5 How our ratings work
- APYN/A
- Minimum
Deposit Required$25 -
Intro Bonus
$250Expires May 3, 2024
Earn a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days. Expires May 3rd, 2024.
If you're in the market for an entry-level checking account, BMO's Smart Advantage checking should be on your list to consider. In addition to a remarkably generous new customer bonus, this account features no monthly maintenance fees and a robust network of fee-free ATMs.
Overview
BMO Smart Advantage Checking account features a low minimum opening deposit, as well as no monthly maintenance fees and access to over 40,000 fee-free ATMs. Plus, it frequently offers sign-up bonuses for new customers that are higher than average for free checking accounts.
Pros
- Robust fee-free ATM network
- No monthly maintenance fee
- Strong sign-up bonus
Cons
- Minimum opening deposit required
BMO Relationship Checking
- Our Rating 4/5 How our ratings work
- APY0.01%
- Minimum
Deposit Required$0 -
Intro Bonus
$400Expires May 3, 2024
Earn a $400 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days. Expires May 3rd, 2024.
If you have the cash on-hand to waive this account's monthly fee, customers will find a lot to like about BMO's Premier Checking account. Even at the most basic benefits tier, this account has a lot to offer, and customers with higher account balances unlock even greater perks.
Overview
BMO Premier Checking is the bank’s top-tier checking account offering. Premier Checking benefits depend on quarterly combined balances with the bank. The bank offers four tiers of Premier benefits — Silver, Gold, Platinum and Premier.
Pros
- Includes valuable perks and benefits that increase with higher balances
- Monthly ATM surcharge fee reimbursements
- Valuable sign-up bonus
Cons
- Monthly fee waiver requirements relatively steep
- Low APY
Make the most of this opportunity by familiarizing yourself with the terms and conditions, meeting eligibility criteria, and taking proactive steps to secure your cash bonuses. Visit BMO online or in-person to embark on your journey towards financial prosperity.
Remember, financial decisions should align with your long-term goals and financial well-being. Stay informed, explore your options, and make empowered choices on your financial journey.
Slickdeals Money Staff
The Slickdeals Money editorial team is dedicated to helping readers navigate the personal finance space. We’re passionate about educating our readers on the very best financial tools & products on the market today.
