BMO vs Ponce Bank

BMO is a midwest bank with options for low and high-balance customers. How does it compare to Ponce Bank? Read our comparison chart below.

BMO has over 900 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 Ponce Bank was founded in the Bronx in 1960 by Puerto Rican migrants, at a time when traditional banks had abandoned the neighborhood. Today, they are a proud certified Minority Depository Institution and Community Development Financial Institution (CDFI), and remain dedicated to serving financially-vulnerable communities.

Their not-for-profit, The Ponce de Leon Foundation, supports local initiatives in affordable housing, education, healthcare, and more.

Compare BMO with Ponce Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Member FDIC
	Visit Site	Visit Site
	BMO	Ponce Bank
	SPECIAL OFFER BMO Smart Advantage Checking account - Earn $400 Cash Bonus* - Learn More Read BMO Review	SPECIAL OFFER 6-Month High-Yield CD - 4.00% APY - Learn More Read Ponce Bank Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD	0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	3-Month High-Yield CD - 4.25% APY 4-Month High-Yield CD - 4.25% APY 4 Month No-Penalty CD - 4.15% APY 6-Month High-Yield CD - 4.00% APY 1-Month High-Yield CD - 3.00% APY 9-Month High-Yield CD - 3.00% APY 48-Month High-Yield CD - 1.61% APY 13-Month High-Yield CD - 1.31% APY 11-Month High-Yield CD - 1.21% APY
Checking	Smart Advantage, Smart Money, Relationship
Money Market	Up to 2.68% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
ATMs	40,000+ BMO and Allpoint ATMs
Customer Service	Mon-Fri: 7am - 11pm (CT); Sat-Sun 8am - 10pm
IRA CD	0.05% - 1.00% 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	981 branches	14 branch locations
	CreditDonkey® Reviews
Savings
CD
Checking
Money Market
Mobile App
Customer Service
Fees
Pros & Cons	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY	Pros: Various savings options Low monthly fees Wide ATM network Cons: Limited physical location
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	Community bank that offers several high-yield savings options through Raisin... Read full review
	Visit Site	Visit Site
	BMO Smart Advantage Checking account - Earn $400 Cash Bonus* BMO Smart Money Checking account - Earn $400 Cash Bonus* Savings Account - Up to $60 Bonus	6-Month High-Yield CD - 4.00% APY 48-Month High-Yield CD - 1.61% APY 13-Month High-Yield CD - 1.31% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO: Pricing information from published website as of 08/26/2025 based on 60603 zip code. Ponce Bank: Pricing information from published website as of 09/18/2025.

Member FDIC

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. *Conditions apply. Accounts are subject to approval and provided in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 1/28/2026

Member FDIC

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. *Conditions apply. Accounts are subject to approval and provided in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 1/28/2026

Which is Better: BMO or Ponce Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing BMO or Chase.

In short: Ponce Bank's cd and money market are impressive.

Articles on BMO

BMO Review

BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

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BMO Routing Number

If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

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BMO Checking Account Bonus & Promotions

BMO rolls out enticing checking offers from time to time to attract new customers. Find the latest bonus deals here.

Who Owns BMO

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Money vs Smart Advantage

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

Is BMO a Real Bank

BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.

Articles on Ponce Bank

Ponce Bank Review

Explore Ponce Bank's savings accounts with decent rates, along with high-yield options through Raisin. Keep reading to find out more.

Which Do You Think is Best?