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 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 Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Everyday Checking and Clear Access Banking for those who have 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.
Visit Site | Learn More | |
BMO Bank | Wells Fargo | |
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BMO Checking Accounts - Earn up to $600 - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
Savings | 0.01% APY. $5 reward every month you save $200 or more, for the first year. | 0.01% 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% - 4.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. | Standard Fixed Term CD available online: 1.01% to 2.00% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Relationship APY: 1.02% to 2.01% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. More CD terms are available in branch. |
Checking | Smart Advantage, Smart Money, Relationship | Clear Access Banking, Everyday Checking, Prime Checking, Premier Checking |
Money Market | 1.00% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
ATMs | approximately 11,000 ATMs across the country | |
Customer Service | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm | Available 24 hours a day, 7 days a week. |
IRA CD | 0.05% - 2.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | Standard Term CD: 0.01% to 2.00% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Relationship APY: 0.02% to 2.01% APY when you link a Wells Fargo Prime Checking, Premier Checking, or Private Bank Interest Checking account to the CD. |
IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
Locations | approximately 4,700 retail banking branches coast to coast | |
CreditDonkey® Reviews | ||
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CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
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 | |
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. Wells Fargo: Pricing information from the published website as of 09/21/2024 is based on the 91101 zip code. |
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.
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.
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
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.