BMO Bank vs Bank of America

BMO Bank is a midwest bank with options for low and high-balance customers. How does it compare to Bank of America? Read our comparison chart below.

BMO Bank has over 900 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 Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

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

Tip: Check out the latest Bank of America promotion.

	BMO Bank	Bank of America
	Member FDIC	Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER BMO Checking Accounts - Earn up to $600 - Learn More Read BMO Bank Review	OFFER Bank of America Advantage Banking - $300 Bonus Offer Read Bank of America Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.	Bank of America Advantage Savings Standard Rate: 0.01% APY
CD	0.05% - 4.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	7-Month CD - 4.35% APY 10-Month CD - 4.00% APY 13-Month CD - 3.25% APY 25-Month CD - 2.00% APY 37-Month CD - 0.05% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking	Smart Advantage, Smart Money, Relationship
Money Market	1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
ATMs	40,000+ BMO and Allpoint ATMs	Approximately 16,000+ ATMs
Customer Service	Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
IRA CD	0.05% - 2.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit
IRA Money Market	IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee
Locations	981 branches	3,922 financial centers
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Visit Site	Learn More
	BMO Checking Accounts - Earn up to $600 BMO Smart Advantage Checking - Earn up to $350 Savings Account - Up to $60 Bonus
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO Bank: Pricing information from published website as of 09/27/2024 based on 60603 zip code. Bank of America: Pricing information from published website as of 10/18/2024 based on 91107 zip code.

Member FDIC

BMO Checking Accounts - Earn up to $600

Earn up to $600 with qualifying activities. Conditions Apply. BMO Bank N.A. Member FDIC

Get either a $250 or $500 cash bonus when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24. Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online. Combine the cash bonus and the gift card to maximize your rewards.

Get Deal

Expires Tomorrow

Member FDIC

BMO Smart Advantage Checking - Earn up to $350

Earn up to $350 with qualifying activities. Conditions Apply. BMO Bank N.A. Member FDIC

Earn a $250 cash bonus when you open a new checking account and complete qualifying activities between 9/10/24 and 10/31/24. Plus, get a $100 digital gift card when you meet with a BMO banker to discuss your financial priorities after opening your account online. Combine the cash bonus and the gift card to maximize your rewards.

Get Deal

Expires Tomorrow

Member FDIC

BMO Smart Advantage Checking

No minimum balance required
Fee-free transactions at more than 40,000 Allpoint® network ATMs nationwide
No monthly fees with paperless statements

Learn More

Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

Learn More

Expires 1/31/2025

The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 01/31/2025.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
Bank of America, N.A. Member FDIC.

Member FDIC

Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

Learn More

Expires 12/31/2024

The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new eligible business checking customers only.
Offer expires 12/31/2024.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC

Member FDIC

Bank of America Advantage SafeBalance Banking®

Banking that helps you stay within your balance.
No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
Bank of America, N.A. Member FDIC.

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Which is Better: BMO Bank or Bank of America?

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.

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.

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.

Who Owns BMO Bank

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO Bank? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO Bank

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Money vs Smart Advantage

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

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.

Articles on Bank of America

Bank of America Review

Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

Bank of America Savings Account Interest Rate

Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

Does Bank of America Have a High Yield Savings

Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.

Bank of America Problems

Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

Bank of America CD Rates

Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

How to Close a Bank of America Account

Want to close your Bank of America account? Learn how and what you need to do before you close your account.

Bank of America Hours

Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

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BMO Bank vs Bank of America

Benefits and Features

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