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BMO Bank vs Wells Fargo

BMO Bank 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 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 Wells Fargo is one of America's largest banks with over 4,500 locations and 12,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.

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

 BMO Bank
Member FDIC
 Visit SiteLearn More
 

BMO Bank

Wells Fargo

SPECIAL OFFER
BMO Smart Advantage Checking - $400 Cash Bonus - Learn More

Read BMO Bank Review

SPECIAL OFFER
IRA Certificate of Deposit - Up to 4.50% APY - Learn More

Read Wells Fargo Review

 

Benefits and Features

Savings0.01% APY. $5 reward every month you save $200 or more, for the first year.0.15% 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.
CD0.05% - 5.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.Standard Fixed Term CD available online: 1.50% to 4.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 4.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch.
CheckingSmart Advantage, Smart Money, RelationshipClear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Money Market1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship.
Customer ServiceMon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pmAvailable 24 hours a day, 7 days a week.
ATMs
40,000+ BMO and Allpoint ATMs
More than 12,000 ATMs across the country.
IRA CD0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening depositStandard Term CD: 0.01% to 4.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 4.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money MarketIRA Premium Savers: $100 minimum opening deposit. No monthly maintenance feeAlso known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit.
Locations
More than 600 branches
Approximately 4,500+ retail banking branches coast to coast.
 

CreditDonkey® Reviews

 BMO Bank
SavingsStarStarEmpty StarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarHalf Star
Money MarketStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarStar
Pros & ConsPros:
  • Free checking with eStatements
  • Large ATM network
  • Good financial tools
Cons:
  • Limited branches
  • Low savings APY
Pros:
  • Low requirements for Everyday Checking
  • Full service bank
  • 24/7 customer service
Cons:
  • Low savings rates
  • Not in all states
Bottom LineMidwest bank with options for low and high-balance customers... Read full reviewA "big 4" bank with a good range of checking accounts and full services... Read full review
 Visit SiteLearn More

BMO Bank: Pricing information from published website as of 11/26/2023 based on 91107 zip code.

Wells Fargo: Pricing information from the published website as of 11/24/2023 is based on the 91107 zip code.

BMO Bank
Member FDIC

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.

Expires in 4 days
BMO Bank
Member FDIC

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.

Expires in 4 days
BMO Bank
Member FDIC

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.

Expires in 4 days

Which is Better: BMO Bank 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 Bank or Chase.

In short: Wells Fargo's customer service is worth mentioning.


Articles on BMO Bank

BMO Bank 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.

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.

BMO Routing Number

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

Articles on Wells Fargo

Wells Fargo Bank Review

Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.

Wells Fargo Bank Hours

Wells Fargo is one of the biggest banks in the country. Here's when you can visit a branch near you.

Wells Fargo Routing Number

Not all routing numbers are the same for Wells Fargo. Here's how to find the routing number for your bank account.

Which Do You Think is Best?





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