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Update 12/6/19: Extended until January 30th, 2020.
Update 10/1/19: Bonus is back, but it’s nwo only for $150/$250 instead of up to $500, so not remotely worth considering.
Update 8/2/19: Bonus extended until August 31st, 2019
Update 7/20/19: Direct deposit requirement has been increased to $6,000 (from two of $500+)
Update 7/9/19: Now only need to deposit $5,000 for the savings account instead of $10,000. Hat tip to reader Curmudgeon
Update 6/3/19: New link found, you also get $400 for opening the checking account now and another $100 for the savings account. Doesn’t look like there is a deposit requirement for the savings account either. Hat tip to reader Ben A
Update 5/8/19: New link found that extends the deal until 7/1. Hat tip to reader Clint
Update 4/12/19: New link found, you now get a $300 bonus for opening the checking account (instead of $200) and then an extra $200 for opening the savings account (previously $300). The savings bonus has become much easier though as you now only need $10,000 instead of $25,000 deposited. Hat tip to reader Celia
Update 3/10/19: Bonus is back and it’s now possible to get a $500 bonus as well. To get the bonus you need to send yourself a coupon (available on the landing page) and then use this promo code during sign up. Looks like the promo code might actually apply automatically when opening online. Also it doesn’t look like there is a state restriction anymore. State restriction still applies
Offer at a glance
- Maximum bonus amount: $200/$500
- Availability: Must reside in Arizona, Florida, Central or Southern Indiana, Kansas, Missouri, St. Clair County in Illinois, Pierce or St. Croix Counties in Wisconsin, or Minnesota (excluding St. Louis County)
- Direct deposit required: Yes, direct deposits totaling $6,000+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: Cannot fund with a credit card
- Monthly fees: None with eStatements
- Early account termination fee: $50 if closed within 90 days, you’ll also forfeit the bonus if you closed the account within six months (now 120 days?).
- Expiration date:
April 28th, 2017June 30th, 2017 September 30th, 2017 December 31st, 2017 March 30th, 2018May 31st, 2018 June 29th, 2018 October 31st, 2018January 31st, 2019 February 28th, 2019May 31st, 2019July 1st, 2019 July 31st, 2019August 31st, 2019 - Household limit: None mentioned
Contents
The Offer
- Receive a $400 bonus when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ AccounAccount checking account and complete the following requirements:
- Receive a total of at least $3,000 in direct deposits within 150 days of account opening
- Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard post to your account within 90 days of account opening [Read: How to meet debit card transaction requirements]
- Enroll in BMO digital banking and set up paperless statements
- Receive an extra $100 when you open a new statement savings account and deposit $10,000 and keep it for 90 days
The Fine Print
- If you are opening your account online or by phone, you must reside in a state that BMO Harris operates retail branches and use that address to open the account. BMO Harris currently operates retail branches in Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota and Wisconsin.
- $300 checking bonus: 1) Mention the promo code when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ Account, or BMO Harris Premier™ Account between March 18, 2019 and May 31, 2019. If you use the “open now” link above we’ll automatically apply the promo code for you. You can also apply online at bmoharris.com, at a branch or call 1-866-362-1166. Before you apply, enter your email and click “Send Me My Coupon Above” to receive the promo code. 2) Have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $500 or more each electronically deposited into the account from an employer or outside agency within 90 days of opening. We reserve the right to request documentation that the direct deposits qualify. 3) Have at least 10 debit card purchases made with your BMO Harris Bank Debit Mastercard® post to your account within 90 days of account opening.
- Offer is not available to existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months.
- Offer cannot be combined with any other offer and is limited to one per account.
- We reserve the right to amend or cancel any part of this offer.
- $200 Statement Savings bonus: To receive the bonus: 1) Open a new Statement Savings account between March 18, 2019 and May 31, 2019 with an opening deposit of $10,000 or more of funds not currently on deposit at BMO Harris Bank or its affiliates. If you use the “open now” link above we’ll automatically apply the promo code for you. You can also apply online at bmoharris.com, at a branch or call 1-866-362-1166. Before you apply, enter your email and click “Send Me My Coupon Above” to receive the promo code. 2) Maintain at least $10,000 in the account for 90 days.
- Bonus will be paid into the Statement Savings account.
- Offer is not available to existing Statement Savings customers (including signers on joint accounts) or those who have closed a Statement Savings account within the past 12 months.
Bonus is not considered part of the opening deposit and will be reported to the IRS for tax purposes. - You are responsible for any applicable taxes.
- Your account must be open and in good standing when the bonus is paid approximately 120 days after opening.
Avoiding Fees
Smart Advantage Checking ($300 Bonus)
Your best option is to open the BMO Smart Advantage Checking account. This has a no monthly fee when you have eStatements.
Early Account Termination Fee
There is an early account termination fee of $50 if the account is closed within 90 days. In addition the account needs to be open at the time the bonus posts (within 120 days). You also need to keep it open for six months or the bonus will be forfeited (this might not be the case anymore).
Our Verdict
This bonus is significantly better now that you can open online rather than having to deal with a phone or in branch application. It’s even better now that the bonus is $400 for checking and the savings bonus is easier to meet the requirements for. This will be moved higher on our best bonus list.
Big thanks to reader, Josh who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
Bonus History
- Update 11/16/18: Bonus is back and available through January 31st, 2019. Hat tip to JuicyJosh
- Update 09/02/18: Bonus is back and available through October 31st, 2018. Thanks to reader @millionmilematt
- Update 05/0918: Bonus is back and available through May 31st, 2018. Thanks to reader Joe.
- Update 01/04/18: Bonus is back and available through March 30th, 2018. It now requires 10 debit card transactions as well. They also upped the direct deposit requirement to $500 from $300
- Update: Bonus is now only available to residents of the following states: AZ, FL, IL, IN, KS, MO, MN and WI.
- Application page now clearly states it can be opened online, thanks to reader Todd.
- A lot of us reported issues opening the Signature Card pdf during account opening requiring bank contact to mail a copy. Per BMO this is Google Chrome compatibility issue and should work fine in other browsers. You can fix this by using another browser or using this trick.
Data point: Alliant ACH was rejected. Wasted $25 on the maintenance fee :(.
Data points:
1/7/20 Opened Smart Advantage Checking account.
3/3/20, 4/3/20, 5/1/20 $2000+ S.S deposits. Made 20+ debit card transactions.
5/10/20 Received email “Thank you for opening your new BMO Harris Bank account and meeting all the special promotion requirements. You now qualify for a $200.00 bonus! This bonus will be deposited into your account within the next 10 business days”.
Datapoint: Venmo cashout *does not* count as direct deposit.
I opened the account in August, met the requirements in October, but the bonus didn’t post so I forgot about it, but it then posted in January this year.
had a DD through my school
Link is down
Question for those who had done the BMO Checking bonus…Did you get a PIN mailed to you for the debit card, or you selected it when you activated the card with a rep?
I opened a checking account on 1/7/20, got online access set up and I can log into the account. Got the debit card on 1/21, had to call to activate it; the rep asked 4 questions to verify my ID, somehow I answered one question incorrectly. The rep refused to activate my card, and told me I have to drive to a branch (50 miles away) to do it in person. I’m going to call again tomorrow and see if they’ll let me try again, hopefully they didn’t mark my account that I failed the test.
Just to complete the story…Called back today and got a different rep. She also told me I’d have to go to a branch. I pleaded with her that the nearest branch is 50-60 miles away. She said if I had passed the test, then the card would have been activated and I could pick a PIN. Since I didn’t pass, she could activate the card but the PIN would be mailed. That was just fine with me. Saved me a trip.
8/5 – Smart Advantage Checking opened; $6k real DD
8/8 – Platinum Money Market opened and funded with $5k (never withdrew funds)
1/6 – $400 checking bonus posted
1/14 – No response from secure message about status of $100 saving bonus so called and was told to expect bonus “next week” (bonus should have posted last week per terms/conditions)
1/21 – $100 savings bonus posted
Still no bonus – DPs:
8/7 – Smart Advantage Checking opened, funded $200
8/20 – Platinum Money Market opened, funded $5020
8/30 – real DD 3025
9/15 – real DD 3025
9/29 – completed 10 DC transactions
Compared to other timeline DP’s here, I feel like I’m well past due for the bonus. Time for a SM or wait another week or so?
You should have received the bonus in December. Since you used a real DD I would call. I’m expecting mine in February.
I received a mailer yesterday with a coupon for $200+$300 Smart Money bonus offer that had a unique Promo Code that says it can be used in branch or per phone conversation. I still would never recommend BMO; they cheated me out of my bonus.
Apparently the code can also be used online at: bmoharris.com/valpak12 If someone wants it, this is the code I received: BMOP-02001M-MZSK6K9
My Valpak code starts the same but ends in 810IUTV. Already a customer and won’t be using it.
Trying to open Smart Advantage checking. The promo code automatically generates on the site. But then it says “The promo code you’ve entered is invalid or unavailable with this product.”
Dead?
By the way, the auto-generated promo code is: BMOP-01761H-WEB250S