BMO vs Wells Fargo
BMO is a midwest bank with options for low and high-balance customers. How does it compare to Wells Fargo? 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 Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Everyday Checking and Clear Access Banking for those who have financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
Compare BMO with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Learn More | |
BMO | Wells Fargo | |
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BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus* - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
Savings | 0.01% APY. $5 reward every month you save $200 or more, for the first year. | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under. |
CD | 0.05% - 4.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. | Standard Fixed Term CD available online: 2.00% to 2.75% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Relationship APY: 2.01% to 2.76% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. More CD terms are available in branch. |
Checking | Smart Advantage, Smart Money, Relationship | Clear Access Banking, Everyday Checking, Prime Checking, Premier Checking |
Money Market | 1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
ATMs | approximately 11,000 ATMs across the country | |
Customer Service | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm | Available 24 hours a day, 7 days a week. |
IRA CD | 0.05% - 2.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | Standard Term CD: 0.01% to 2.75% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Relationship APY: 0.02% to 2.76% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. |
IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
Locations | approximately 4,700 retail banking branches coast to coast | |
CreditDonkey® Reviews | ||
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CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Midwest bank with options for low and high-balance customers... | A "big 4" bank with a good range of checking accounts and full services... |
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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 11/02/2024 based on 60603 zip code. Wells Fargo: Pricing information from the published website as of 10/26/2024 is based on the 91101 zip code. |
BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus*
$300 Cash Bonus* when you have $4,000 in direct deposits within 90 days of opening between 11/1/24 – 2/3/25. *Conditions Apply. Available in the U.S. BMO Bank N.A. Member FDIC
Which is Better: BMO or Wells Fargo?
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: Wells Fargo's customer service is worth mentioning.