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  • You can open a BMO Harris (Member FDIC) bank account at one of over 500 branches in nine states, or online from around the US.
  • BMO Harris is a good brick-and-mortar bank, but if you’re looking to bank online, you’re better off with an online-only bank that pays higher rates.
  • The bank pays higher CD rates than most brick-and-mortar banks, but you’ll need $5,000 to open an account.
  • See Business Insider’s picks for the best CD rates ยป

Is BMO Harris the right fit for you?

You might like BMO Harris if you … You might not like BMO Harris if you …
  • Live near a branch, OR are comfortable banking digitally
  • Are looking for low or no monthly fees
  • Have $5,000 to open a CD or money market account
  • Want a money market account that comes with paper checks and a debit card
  • Don’t live near a branch, AND you’re not comfortable banking digitally
  • Want to earn high interest rates
  • Are worried about overdraft fees
  • Can’t afford the opening deposits for CDs and money market accounts

The bottom line: BMO Harris is a solid option if you want to bank in person, but you can find other online banks with better interest rates and lower minimum deposits.

  • Details
  • Pros & Cons

    • Over 500 branches in 9 states, but you can open an account online nationwide
    • Waive $5 monthly service fee if you maintain a $100 daily balance, OR are under age 25
    • Interested compounded daily, paid quarterly
    • FDIC insured
    Pros
    • Low minimum opening deposit of $25
    • No monthly maintenance