Do you want to discover all the checking accounts offered by BMO Bank? At Responsible Economy, we have thoroughly analyzed all the checking accounts provided by BMO. You’ll be able to see all the fees, the interest rates they offer, the ATMs where you can withdraw money, and everything you need to know. Welcome!
Types of Checking Accounts at BMO
BMO offers 3 different types of checking accounts:
- BMO Smart Advantage Checking
- BMO Smart Money Checking
- BMO Relationship Checking
Now let’s take a detailed look at the features of each account.
BMO Smart Advantage Checking
First, let’s display a table with the key features of the Smart Advantage Checking account:
| Feature | Fee |
|---|---|
| Monthly maintenance fee | $0 |
| BMO and Allpoint ATM transactions in the U.S. | $0 |
| Non-BMO ATM transactions | $3 |
| Paper statements | $3 (fee is waived if any individual associated with your account is 65 years or older; you can also go paperless for free statements) |
| Check images | $3 (you can opt out of check images; or go paperless statements for free check images) |
| Overdraft fee | $15 each (or get overdraft services to avoid fees) |
| Minimum opening deposit | $25 |
The BMO Smart Advantage Checking account has no annual maintenance fees, and you can withdraw money at over 40,000 Allpoint ATMs worldwide. However, please note that each bank overdraft comes with a $15 fee. To open the account, you will need a minimum deposit of $25. Keep in mind that these details are subject to change, and it’s recommended to visit the official BMO website for the most current information on their Smart Advantage Checking account.
BMO Smart Money Checking
Here is a table with all the features of BMO Smart Money Checking:
| Feature | Fee |
|---|---|
| Monthly maintenance fee | $5 or $0 if you’re under 25 |
| BMO and Allpoint ATM transactions in the U.S. | $0 |
| Non-BMO ATM transactions | $3 |
| Paper statements | $2 (fee is waived if any individual associated with your account is 65 years or older; you can also go paperless for free statements) |
| Check images | $3 (you can opt out of check images; or go paperless statements for free check images) |
| Overdraft fee | $0 |
| Minimum opening deposit | $25 |
BMO Smart Money Checking has a $5 monthly fee, which amounts to $60 per year unless you are under 25 years old. You can withdraw money without fees at all Allpoint ATMs in the United States and worldwide. All charges that would result in negative account balance will be declined. To open this account, you will need to deposit $25.
BMO Relationship Checking
Relationship Checking is a premium account offered by BMO. Depending on the money you have in the account, you will have different benefits. Here are the 4 different types of accounts based on the money you have:
- Silver: less than $25,000.
- Gold: $25,000 – $99,999.99
- Platinum: $100,000 – $249,999.99
- Premier: over than $250,000
The minimum deposit to open any of the accounts is $25. You will also have a $25 monthly fee unless you meet one of the following requirements:
- The minimum daily Ledger Balance in this Account is $10,000 or more for the previous calendar month.
- You have met the $25,000 Monthly Combined Balance for the previous calendar month.
- You are a client of our employee benefits program, Best of BMO U.S., and have requested the waiver from your BMO Banker.
Best checking accounts 2023
Here you have a comprehensive ranking featuring the best checking accounts in the United States for opening a checking account, along with the key characteristics of each account:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- No fees no direct deposits
- Fee-free withdrawals from ATMs around the world
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
- No fees no direct deposits
- More than 60,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on Savings
- No fees no direct deposits
- More than 50,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs and Savings
- Commissions of $10 if you do not meet requirements
- No fees at Citibank ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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