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.
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| Visit Site | Learn More | |
BMO Bank | Wells Fargo | |
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BMO Smart Advantage Checking - $400 Cash Bonus - | IRA Certificate of Deposit - Up to 4.50% APY - | |
Benefits and Features | ||
| Savings | 0.01% 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. |
| CD | 0.05% - 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. |
| Checking | Smart Advantage, Smart Money, Relationship | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo |
| Money Market | 1.00% 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 Service | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm | Available 24 hours a day, 7 days a week. |
| ATMs | More than 12,000 ATMs across the country. | |
| IRA CD | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | Standard 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 Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit. |
| Locations | Approximately 4,500+ retail banking branches coast to coast. | |
CreditDonkey® Reviews | ||
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| 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... |
| Visit Site | Learn 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 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.
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
Is BMO a Real Bank
BMO Routing Number
Articles on Wells Fargo
Wells Fargo Bank Review
Wells Fargo Bank Hours
Wells Fargo Routing Number
Which Do You Think is Best?
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