[Expired] [IL, WI, MN, IN, AZ, FL, KS, MO] BMO Harris $200 Checking Bonus

Deal has ended, view more bank bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must reside in Illinois, Wisconsin, Minnesota, Indiana, Arizona, Florida, Kansas, or Missouri
• Direct deposit required: Yes, direct deposits totaling $4,000+
• Additional requirements: eStatements & and digital banking
• 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,
• Household limit: None listed
• Expiration date: June 30th, 2020

The Offer

Direct link to offer

• BMO Harris is offering a bonus of $200 when you open a new checking account and complete the following requirements:
  • Receive cumulative direct deposits of $4,000 within 90 days of account opening
  • Enroll in digital banking and set up paperless statements

The Fine Print

• In order to be eligible for this offer, you must reside in Illinois, Wisconsin, Minnesota, Indiana, Arizona, Florida, Kansas, or Missouri.
• You can apply online by using the “open now” links above and we’ll automatically apply the promo code for you.
• You must open your accounts between May 4, 2020 and June 30, 2020.
• We reserve the right to amend or cancel any part of this offer at any time.
• Offer is not available for 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.
• 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, in good standing and must have a balance greater than zero when the bonus is paid approximately 90 days after opening
• Earn a $200 bonus when you open a new BMO Harris Smart Money™ Account, BMO Harris Smart Advantage™ Account, or BMO Harris Premier™ Account and complete the following requirements within 90 days of opening: a) Have a cumulative total of $4,000 in direct deposits of a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into the account from an employer or outside agency. We reserve the right to request documentation that the direct deposits qualify. b) Enroll in BMO Digital Banking and set up paperless statements.
• You must still be enrolled in paperless statements when the cash bonus is credited.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

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.

Our Verdict

Previously BMO Harris has had an offer for up to $500 with similar requirements. That was offered until August 31st, 2019 so I recommend just waiting for a better offer to return. Because of that we won’t be adding this to our list of the best checking bonuses.

Hat tip to JohnnyBoyJr

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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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• 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
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