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BMO Harris Bank Promotions – $500 Bonus Offer

Here’s all the details about the latest BMO Harris Bank promotions; how to qualify, what are the best bonuses available and the offer requirements, when do the promos expire, and more!

BMO Harris is based in Chicago and is the 21st largest bank in the United States. It has over 600 branches and 1,300 ATMs across the Midwest, with availability in AZ, FL, IL, IN, KS, MN, MO, and WI.

While their regional footprint is growing, if you’re not located near a branch, you can check out other bank promotions that may be available to you.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, and Fifth Third Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Current BMO Harris Bank Promotions

Here are the best BMO Harris bonuses currently available right now:

1. BMO Harris Smart Advantage™ Checking Account – $300 Bonus

BMO Harris is offering a $300 cash bonus when you open this checking account and make a total of at least $4,000 in qualifying direct deposits.

The BMO Harris Smart Advantage is the most popular personal checking account with no monthly maintenance fee and no minimum balance required with eStatements.

Bonus Amount: $300
Availability: AZ, FL, IL, IN, KS, MN, MO, and WI
Expiration: September 30, 2022

Bonus Requirements:

  1. Open a new BMO Harris Smart Advantage account using the link below.
  2. Set up a direct deposits totaling $4,000 or more within 90 days of account opening.
  3. Receive the $200 bonus approximately 100 days after account opening.

2. BMO Harris Business Checking Account – Up to $500 Bonus

Business owners (self-employed, small businesses, and gig economy workers count!) can get a bonus of up to $500 when they open a BMO Harris business checking account.

There are two bonus tiers. You can get a $250 bonus or a $400 bonus depending on your account balance and qualifying transactions:

  • Get a $300 bonus when you maintain a balance of $5,000 or more for 90 days
  • Get a $500 bonus when you maintain a balance of $10,000 or more for 90 days

You also need to make 10 qualifying transactions within 90 days of opening your account.

This is available on all BMO Harris business checking accounts, including:

  • Simple Business Checking
  • Premium Business Checking
  • Elite Business Checking
  • Digital Business Checking accounts.

Bonus Amount: $300 or $500
Availability: AZ, FL, IL, IN, KS, MN, MO, and WI
Expiration: September 30, 2022

Bonus Requirements:

  1. Open a new BMO Harris business checking account with the ‘Apply Now’ button below.
  2. Deposit and maintain an account balance required by the bonus tier you select.
  3. Receive the $300 or $500 bonus within 14 days of meeting the promotion requirements.

3. BMO Harris Premier™ Checking Account – $500 Bonus

BMO Harris has a checking account bonus of $500 when you open a BMO Harris Premier account and have total direct deposits of $7,500 or more.

This is the BMO Harris’ high-end personal checking account product that the more you deposit, the more rewards you unlock.

Bonus Amount: $500
Availability: AZ, FL, IL, IN, KS, MN, MO, and WI
Expiration: September 30, 2022

Bonus Requirements:

  1. Open a new BMO Harris Premier account via the link below.
  2. Set up a direct deposits totaling $7,500 or more within 90 days of account opening.
  3. Receive the $350 bonus approximately 100 days after account opening.

4. BMO Harris Smart Money™ Checking Account – $300 Bonus

Get a $300 bonus when you open a BMO Harris Smart Money checking account and have a total of at $4,000 or more in direct deposits.

The Smart Money account is ideal for young customers because while it does have a $5 monthly maintenance fee, it’s waived for those who are 25 and under.

Bonus Amount: $300
Availability: AZ, FL, IL, IN, KS, MN, MO, and WI
Expiration: September 30, 2022

Bonus Requirements:

  1. Open a new BMO Harris Smart Money account using the links below.
  2. Set up a direct deposits totaling $4,000 or more within 90 days of account opening.
  3. Receive the $200 bonus approximately 100 days after account opening.

5. BMO Harris Savings Account – Up to $60 Bonus

BMO Harris is offering a welcome bonus of up to $60 when you open a Savings Builder account. You’ll earn a $5 reward every month you save $200 or more, for the entire first year.

This savings account is FDIC-insured, has no monthly maintenance fee, and requires just a $25 minimum opening deposit.

Bonus Amount: $60
Availability: AZ, FL, IL, IN, KS, MN, MO, and WI
Expiration: None Listed

Bonus Requirements:

  1. Open a new BMO Harris Savings Builder account by click the link below.
  2. Receive a $5 bonus for every month you grow your savings account by at least $200 (this promo is available for 12 months beginning with the month your account is opened).

Tips & Tricks for BMO Harris Bank Promotions

Existing vs New Customers

BMO Harris bonus offers is typically valid for new customers to each “product family”.

For example, personal checking accounts is considered a “product family”. You can only receive one person checking account bonus and can’t open multiple checking accounts and receive multiple bonuses, but you may still be eligible for a savings account bonus or a business checking account bonus since they’re considered a different “product family”.

You also:

  • Can’t be an existing BMO Harris personal checking account customer (including signers on joint accounts)
  • Your last BMO Harris personal checking account (if you had one) had to be closed more than 12 months ago

Other product families (savings account, business checking account, credit cards) have similar terms and conditions, so be sure to read it carefully to determine if you’re eligible for a welcome bonus.

BMO Harris Promotions FAQs

Are bank sign-up bonuses taxed?

Yes, cash bonuses from bank account offers are taxable. Cash bonuses are not considered part of the opening deposit and will be reported to the IRS for tax purposes.

Expect to receive a IRS From 1099-MISC or 1099-INT from the bank at the end of the calendar year. Keep in mind that even if you don’t receive a tax form, you’re still required to self-report and pay taxes. Consult your tax advisor for further information.

Do BMO Harris offers expire?

Yes, most offers have an expiration date. The only offer that doesn’t is the BMO Harris savings account bonus (although BMO can decide to end the offer at any time).

If you want to take advantage of a promo, you need to open an account before the deadline stated.

How long does it take to receive my bank bonus from BMO Harris?

Every bank bonus offer has its own timeline so I recommend that you read the specific promotion that you’re intending to sign up for.

Generally, BMO Harris will deposit welcome bonuses within 100 days of account opening for personal checking account offers, provided that you fulfilled the offer requirements.

Savings account deposit bonuses will be sent monthly five days after the close of the month. Business checking account bonuses will be awarded within 14 days of meeting the promotion requirements.

Can I take advantage of multiple BMO Harris promotions?

It depends. For example, once you receive a bonus for opening a BMO Harris personal checking account, you won’t be eligible to receive another bonus on a different personal checking account.

However, you’re still eligible to get a BMO Harris savings account bonus or a BMO Harris business checking bonus since the offer terms only exclude you from other personal checking account promotions.

The Bottom Line

BMO Harris Bank may be smaller than national banks like Bank of America, Chase Bank, and Wells Fargo, but they have great banking products for consumers and businesses.

I consider them to be a good bank with a strong and stable parent company. Their sign-up bonuses are very competitive too.

The only negative from my detective skills (googling) is that customer service tends to be a bit slow.

If I lived in one of the states BMO Harris operates in, I’d definitely take up one of these bonus offers and take one of their banking products on a test drive. When are you coming to the Northeast, BMO?!?

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