BMO Bank vs Bank of America
BMO Bank is a midwest bank with options for low and high-balance customers. How does it compare to Bank of America? Read our comparison chart below.
BMO Bank has over 600 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.
While Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
Compare BMO Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Visit Site | |
BMO Bank | Bank of America | |
|---|---|---|
BMO Smart Advantage Checking - $400 Cash Bonus - | Bank of America Business Advantage Checking Account - $200 Bonus Offer - | |
Benefits and Features | ||
| Savings | 0.01% APY. $5 reward every month you save $200 or more, for the first year. |  |
| CD | 0.05% - 5.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. | |
| Checking | Smart Advantage, Smart Money, Relationship | |
| Money Market | 1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
| Customer Service | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm |
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| ATMs | ||
| IRA CD | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | |
| IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
| Locations | Approximately 3,900 retail financial centers | |
CreditDonkey® Reviews | ||
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| CD | |  |
| Checking | | |
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| Mobile App | | |
| Pros & Cons | Pros:
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| Bottom Line | Midwest bank with options for low and high-balance customers... | National bank with widespread accessibility and wide range of services... |
| Visit Site | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO Bank: Pricing information from published website as of 11/26/2023 based on 91107 zip code. Bank of America: Pricing information from published website as of 11/24/2023 based on 91107 zip code. | ||
BMO Smart Advantage Checking - $400 Cash Bonus
Open a new BMO Smart Advantage Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Smart Money Checking - $400 Cash Bonus
Open a new BMO Smart Money Checking online and get a $400 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
BMO Relationship Checking - $600 Cash Bonus
Open a new BMO Relationship Checking and get a $600 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 120 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by December 31, 2023
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Business Advantage Fundamentals™ Banking
- No fee for first 200 transactions per statement cycle
- No fee for first $7,500 in cash deposited per statement cycle
- Waive the $16 monthly fee in a variety of ways
Business Advantage Relationship Banking
- No fee for first 500 transactions per statement cycle
- No fee for first $20,000 in cash deposited per statement cycle
- Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance
Which is Better: BMO Bank or Bank of America?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing BMO Bank or Chase.
Articles on BMO Bank
BMO Bank Review
Is BMO a Real Bank
BMO Routing Number
Articles on Bank of America
Bank of America Review
How to Close a Bank of America Account
Bank of America Hours
Bank of America Routing Number
Which Do You Think is Best?
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