BMO vs Bank of America

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

	BMO	Bank of America
	Member FDIC	Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus* - Learn More Read BMO 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% - 3.50% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	7-Month CD - 4.05% APY 10-Month CD - 3.70% APY 13-Month CD - 3.00% APY 25-Month CD - 2.00% APY 37-Month CD - 0.11% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking	Smart Advantage, Smart Money, Relationship
Money Market	0.80% 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% - 1.50% 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 Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus* Savings Account - Up to $60 Bonus BMO Alto Online Savings Account - 4.30% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO: Pricing information from published website as of 12/20/2024 based on 60603 zip code. Bank of America: Pricing information from published website as of 12/03/2024 based on 91107 zip code.

Member FDIC

BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus*

$300 Cash Bonus* when you have $4,000 in direct deposits within 90 days of opening between 11/1/24 – 2/3/25. *Conditions Apply. Available in the U.S. BMO Bank N.A. Member FDIC

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Expires 2/3/2025

Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

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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

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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 12/31/2025.
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 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 or Chase.

Articles on BMO

BMO 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 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

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? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO

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.