BMO Harris Bank started its operational activity back in 1882 and it has grown with notable and remarkable strategic acquisitions. Most attractively, the Bank of Montreal took the procession of Marshall & Ilsley Bank and all its assets in 2012. This undertaking falls for almost the value of $4.1 billion. 

It ultimately led to its integration with BMO’s Harris Bank subsidiary based in different regions including Chicago. After all that consideration, the former M&I bank is currently known as BMO Harris Bank.

Bank Overview

BMO Harris Bank is credibly known due to its stability and innovation in the financial landscape. It originated in the 19th century and keeps on evolving throughout the period with considerable mergers.

This article will delve into the comprehensive services that are being offered and delivered by BMO Harris Bank. Furthermore, it will also shed light on its financial products which tend to present a diverse clientele, high-yield savings accounts, competitive CD rates, and customer-centric banking solutions.

M&I Bank Locations

M&I Bank or BMO Harris Bank, is known to have various branch locations in several counties all across Wisconsin. The branch location areas include;

  • Cedarburg, Mequon, Port Washington, and Saukville in Ozaukee County
  • Pierce, Portage, Racine, Richland, Rock, Sauk, Shawano, Sheboygan, St. Croix, Vilas, Walworth, Washington, Waukesha, Waupaca, Waushara, Winnebago, and Wood County.

Each branch type, smaller or broad, tends to facilitate the customers with all the possible services available in a very fine manner. Apart from all this, if you still want to find and explore more detailed and updated information about its locations, you can directly visit the BMO Harris Bank website or its nearest local branch.

Checking Accounts

BMO Harris Bank considerably provides a range of checking account options to authenticate the needs and preferences of the customers. All the variety of accounts tend to hold features like online banking, mobile banking, as well as ATM access.

While specific details that imply fees and other benefits may vary, its promotional offers including cash bonuses, etc are authenticated for the new accounts. They are prevalent in the financial industry

Most specified, checking accounts of the BMO Harris Bank are as follows. Any of it can be adopted credibly to meet the financial needs and other stages of personal finance management.

Checking Account TypeFeatures
BMO Smart AdvantageAccess to over 40,000 ATMs, no monthly fees, paperless statement option
Plus ChequingFlexible, budget-friendly
Performance ChequingMost popular, additional benefits
Practical ChequingLowest fee option
Premium ChequingMost benefits, likely higher tier
AIR MILES ChequingRewards collection

Saving Accounts

The savings account listed by the concerned bank has a competitive Annual Percentage Yield (APY) of 5.10%, which is applicable nationwide. 

This rate is attractive in comparison to the other national average rates. These aspects make it a highly lucrative option for savers. The people can seek a maximum of interest from their earnings by it.

The account may have specific requirements to achieve this rate, so it is required for the customers to review all the conditions very carefully.

Savings Account TypeAPYMinimum DepositMonthly FeeFeatures and Rewards
Savings Builder Account0.01%$25None$5 monthly reward for increasing balance by $200+ each month for first 12 months​​
Premier Money Market Account0.20%$0.01$10 (waived with $10,000 daily balance)Higher interest rate, access to funds with liquidity​​
Online Savings Account5.10%Not specifiedNot specifiedHigh APY, available nationwide with specific activities​​
Certificate of Deposit (CD)Varies (up to 4.50% for special CDs)$1,000 (Regular CDs), $5,000 (Special CDs)Not specifiedFixed-term savings with competitive rates, higher rates for special CDs​​

CD Rates and Money Market Accounts

CD rates and its terms for BMO Harris Bank are specially designed to cater to different investment horizons for the customer and particularly for their savings goals.

The bank provides a wide range of terms from short-term to long-term CDs, whose interest rates vary depending upon various factors. These factors may include; Term length and Deposit amount. 

The summary list of the CD terms and rates that one can avail of is as follows;

  • 3 Months: 0.05% APY
  • 6 Months: 0.05% APY
  • 9 Months: 0.05% APY
  • 12 Months: 0.05% APY
  • 18 Months: 0.05% APY
  • 24 Months: 0.05% APY
  • 30 Months: 0.05% APY
  • 36 Months: 0.10% APY
  • 48 Months: 0.15% APY
  • 60 Months: 0.25% APY
  • 13 Months (Special CD): 5.25% APY
  • 25 Months (Special CD): 4.75% APY
  • 35 Months (Special CD): 4.60% APY
  • 45 Months (Special CD): 4.60% APY
  • 59 Months (Special CD): 4.60% APY

The minimum deposit that is needed for seeking the standard CD is only $1,000. Whereas, for the special CDs, the bank demanded a minimum deposit of $1,000. The special CDs are more favorable as they offer more competitive rates in comparison to the other standard options available.

In addition to the CDs, the Money market accounts at BMO Harris Bank also comprise higher interest rates than the traditional savings accounts. It also offers more flexibility in terms of withdrawals and check-writing capabilities, which is very considerable.

These accounts are ideal choices for all those customers who are looking for a balance between a savings account and a checking account.

Mortgage Loans and Other Loan Products

BMO Harris Bank probably provides a variety of mortgage products. These products consist of fixed-rate with adjustable-rate mortgages. In this regard, the bank is known to offer and deliver competitiveness from the perspective of the online application processes. This personalized service is highly valuable to help customers, especially for the home-buying journey.

Additional Products and Services 

Apart from the traditional banking products, BMO Harris Bank is known to deliver the high edge performance in terms of a range of credit card options, and investment services. 

In addition to all this, the BMO is a credible and highly authenticated financial platform in favor of retirement planning and wealth management. Some of the pondering aspects for the services include;

Support Channels and FeedbackMultiple customer service channels available, including phone, online, and in-branch services. Customer feedback and reviews are valuable for assessing the effectiveness and responsiveness of support services.
Online and Mobile BankingThe bank likely offers user-friendly online and mobile banking experiences. Features may include mobile check deposit, bill pay, and account management tools. Security measures are presumed to be in place to protect customer data.

Comparison Overview with Other Institutes

For the appropriate comparison with other financial institutes, let’s elaborate the Chase Bank and Wells Fargo along with BMO Harris Bank as competitors. The following comparison will be based on key aspects such as APYs, terms, and other relevant considerations:

Feature/AspectBMO Harris BankChase BankWells Fargo
Savings Account APYUp to 5.10% (Online Savings Account)Varies; lower than BMO’s online rateGenerally lower than BMO
CD Rates0.05% – 4.60% (standard and special)Generally competitive, varies by termCompetitive rates, varies by term
Minimum Deposit for CDs$1,000 (standard), $5,000 (special)Varies, often $1,000Varies, typically $2,500
Checking Account FeesVaries; ways to waive fees availableVaries; options to waive feesVaries; options to waive fees
ATM NetworkOver 40,000 ATMsExtensive national networkLarge national and international network
Online/Mobile BankingAvailable and user-friendlyRobust online and mobile optionsStrong online and mobile presence
Customer ServiceGenerally positive with some complaintsKnown for good customer supportMixed reviews, varies by location
Other ServicesWide range of financial productsBroad range of banking servicesExtensive financial services

Pros and Cons Analysis 


  1. BMO Harris Bank provides a wide range of checking, savings, CD, and money market accounts. These accounts are credible to cater to the required financial needs of the customers.
  2. Special CD rates are particularly attractive. These rates offer significantly higher yields for not only the medium but also for long-term investments.
  3. Customers can get benefits and services from access to over 40,000 ATMs all across the country.


  1. The interest rates for basic savings accounts are relatively
  2. Although there are various ways by which the fees can be waived still some of the accounts come up with monthly charges that can only be added up.
  3. Short-term CDs do not offer competitive rates in BMO Bank, It might be a serious concern and drawback for the customers.

Customer Reviews

Customer experiences with the service and facility of the BMO Harris Bank can vary. The crux and the summary of these common themes from customer reviews are as follows;

Positive FeedbackCustomers often appreciate the wide range of banking products and the convenience of a large ATM network.
Negative FeedbackSome customers have reported issues with customer service responsiveness and dissatisfaction with the low interest rates on some savings accounts.

Final Personal Review

BMO Harris Bank offers a comprehensive range of financial products and services, catering to both personal and business banking needs. Its special CDs and extensive ATM network are notable strengths.

The bank’s effort to provide a variety of account options and its relatively low minimum deposit requirements demonstrate a customer-centric approach. However, the effectiveness of their customer service and the competitiveness of their savings account rates could be areas for improvement.


No doubt, the BMO Harris Bank stands with an outstanding reputation and a long-standing history. Throughout the working approach, it continues to deliver a wide range of financial products.

These products are an appealing choice for customers in the Midwest and beyond. While it offers competitive rates on savings and investment products, potential customers should still consider specific fees and terms and conditions that are associated with different accounts.

Overall, the digital tools and customer service support of the bank are the vital factors & considerations that provide a comprehensive banking experience for the customers and investors.


What is the minimum deposit for a BMO Harris checking account?

The minimum deposit to open a checking account is typically $25.

Are the CD rates at BMO Harris competitive?

Yes, especially the special CDs which offer higher rates compared to standard CDs and are competitive even with online banks.

Does BMO Harris offer online and mobile banking options?

Yes, BMO Harris provides online and mobile banking services, allowing customers to manage their accounts remotely.

Can maintenance fees for the BMO Harris account be waived?

Yes, there are multiple ways to waive monthly fees. Maintenance of a minimum balance or opting for paperless statements can be significant ways depending on the type of account.

Is there a fee for using ATMs outside the BMO Harris network?

BMO Harris customers have access to a large network of ATMs. However, using an ATM outside of this network may incur fees, both from BMO Harris and the ATM operator.