What is BMO?
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BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.
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BMO is a Chicago-based bank that has been in business since 1882. They were formerly known as BMO Harris before rebranding.
BMO provides financial products and services to over 4 million customers in the U.S. They also have access to 40,000+ BMO and Allpoint ATMs and over 900 branches nationwide.
Read on to know more about BMO and what they have to offer.
BMO Bank N.A. is an FDIC-member bank based in Chicago, Illinois. But they are owned by Bank of Montreal which is a large bank based in Canada.
What is BMO?
BMO is a full-service retail bank operating in the U.S. It has various deposit, loan, and investment products. It is owned by the Bank of Montreal in Canada. BMO completed its acquisition of Bank of the West in February 2023.[1]
BMO has a widespread U.S. presence and is among the largest banks in the country, with over $253 billion in assets.[2]
BMO Harris Bank, N.A. was legally renamed as BMO Bank N.A. as of September 3, 2023. Its rebranding as a simplified "BMO" was announced back in September 2022. [3][4]
Who Owns BMO?
BMO is a U.S. subsidiary of the Canadian bank, Bank of Montreal, the 7th largest bank in North America, with assets of over $1.43 trillion. Bank of Montreal was established in 1817 and is based in Montreal, Quebec.[5]
BMO stands for Bank of Montreal—a nod to its parent company the Bank of Montreal in Canada.
Is BMO a Real Bank?
Yes, BMO is a real and legitimate U.S. bank with headquarters in Chicago, Illinois. They are regulated by the FDIC and are also an FDIC-insured bank. (FDIC #16571). They were also formerly known as BMO Harris Bank before their recent rebranding.
BMO operates more than 900 branches, offers access to 40,000+ BMO and Allpoint ATMs, and provides convenient online banking services for its customers.
BMO operates as a traditional brick-and-mortar bank. But you can enroll for their BMO Digital Banking platform. This allows you to do your banking online or on their mobile app (available for iOS and Android).
Is BMO Safe?
Your money is secured at BMO because they are FDIC-insured. Your savings are covered by the FDIC for up to $250,000 in case the bank closes down–which is quite unlikely given their size.
In fact, BMO was recognized as one of the World's Most Ethical Companies. This recognition should speak volumes about the bank's commitment to keep you and your money safe.[6]
Additionally, BMO has secure firewalls and strong encryption technology to keep your account safe. Debit card holders also get access to the Mastercard® Worldwide Zero Liability protection system in case your card gets lost or stolen.
Ultimately, these measures simply show that customer security is one of their priorities.
What Products Does BMO Offer?
BMO offers a variety of checking and savings accounts for its personal banking customers. Here is a rundown of what BMO has available.
- BMO Smart Advantage Checking
- BMO Smart Money Checking
- BMO Relationship Checking
- BMO Savings Builder
- BMO Growth Money Market Account
- BMO Certificate of Deposit (CD)
- BMO Debit Mastercard
But aside from deposit products, BMO does offer a full range of credit cards, loans, mortgages, and investments. You can open a BMO account online or visit a branch near you.
- CIT Bank Platinum Savings:
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BMO Smart Advantage Checking account - Earn $400 Cash Bonus*
$400 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26
BMO Smart Money Checking account - Earn $400 Cash Bonus*
$400 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26
CIT Bank Platinum Savings - $300 Bonus
- Qualify for a $300 cash bonus with a minimum deposit of $50,000
- This limited time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025 and can end at any time without notice.
Should You Open an Account with BMO?
If you're looking for a traditional bank with a large presence nationwide with a good reputation, then BMO might be worth considering.
The bank has a great variety of financial products and services that you might need. However, they might not give you the best APY unlink some online banks.
Ultimately, you should choose a bank that suits your financial goals and preferences.
How to Reach BMO
If you need to reach BMO's customer service in the U.S., you can call 1-888-340-2265 for general inquiries. Their support team is available Monday–Friday, 7 a.m.–11 p.m. (CT), and Saturday–Sunday, 8 a.m.–10 p.m. (CT).
The same number can be used to access your account information or make transfers between your BMO accounts through the automated phone service. You can also use their BMO Online Support tool for non-urgent concerns.
The routing number for all BMO personal bank account holders is 071025661.
Bottom Line
BMO is a traditional retail bank with a longstanding history. You get access to a wide network of branches and ATMs across the U.S. And you still get convenient online and phone banking services when you're on the go.
But if you're looking for higher APY on your savings and CDs, you might want to look at other institutions like online banks and credit unions.
References
- ^ BMO. BMO Completes Acquisition of Bank of the West, Retrieved 12/02/2023
- ^ Federal Reserve. Large Commercial Bank, Retrieved 10/31/2025
- ^ BMO. Our legal and brand name are changing, Retrieved 09/30/2023
- ^ BMO. Unifying under one name: BMO, Retrieved 09/30/2023
- ^ BMO. Who we are, Retrieved 10/31/2025
- ^ The World's Most Ethical Companies. The 2023 World's Most Ethical Companies® Honoree List, Retrieved 09/30/2023
Chase Total Checking® - $400 Bonus
- New Chase checking customers can receive $400 when you open a Chase Total Checking® account and make direct deposits totaling $1,000 or more within 90 days of coupon enrollment.
- Unlock more offers with Chase. Get up to $500 per calendar year by referring friends and family. Plus, get cash back from top brands with Chase Offers when you use your debit card.
- Chase Total Checking® has a $15 monthly service fee, you can easily avoid the fee with direct deposits totaling $500 or more, or a minimum average daily balance each statement period.
- Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
- Chase Mobile® app makes banking simple. Manage accounts, pay bills, send money to friends with Zelle® and deposit checks on the go with Chase Quick Deposit℠.
- Chase has the largest branch network in the U.S. with thousands of ATMs and branches. Use the Chase locator tool to find a branch or ATM near you.
- Chase helps keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 1/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q1AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 1/15/2026 and 3/31/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 new money deposits, daily balance, and 6 qualifying transactions.
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank Mobile Check Deposit, electronic or paper checks, Bill Pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
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Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
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CIT Bank Platinum Savings - $300 Bonus
- Qualify for a $300 cash bonus with a minimum deposit of $50,000
- This limited time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025 and can end at any time without notice.
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