BMO Bank vs Charles Schwab Bank

BMO Bank is a midwest bank with options for low and high-balance customers. How does it compare to Charles Schwab Bank? 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 Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

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

	Member FDIC	Charles Schwab BankChaseBank of AmericaUS Bank
	Visit Site	Learn More
	BMO Bank	Charles Schwab Bank
	SPECIAL OFFER BMO Checking Accounts - Earn up to $600 - Learn More Read BMO Bank Review	SPECIAL OFFER High Yield Investor Checking – Unlimited ATM Rebates - Learn More Read Charles Schwab Bank Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.	0.25% APY
CD	0.05% - 4.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	Offers brokered CDs from other banks. Minimum deposit of $1,000.
Checking	Smart Advantage, Smart Money, Relationship	0.45% APY, $0.01 account minimum
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	Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.
Customer Service	Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm	24/7 Live Customer Service (Telephone and Chat)
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	345 branches across the country. You may also open an account online.
	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: No account minimum No service fees Refund all ATM fees Cons: Only checking or savings Must do banking online
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	Popular brokerage with a free checking account that refunds ATM fees... 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	High Yield Investor Checking – Unlimited ATM Rebates 3-Month CD - Up to 4.52% APY 1-Year CD - Up to 4.40% 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 Bank: Pricing information from published website as of 09/27/2024 based on 60603 zip code. Charles Schwab Bank: Pricing information from published website as of 10/05/2024.

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 10/31/2024

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 10/31/2024

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

Which is Better: BMO Bank or Charles Schwab Bank?

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: Charles Schwab Bank's savings and customer service are notable.

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.

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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.

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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 Advantage vs Smart Money

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 Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

Charles Schwab High Yield Savings

Charles Schwab Bank has a savings account with no fees and a free debit card. But how does its APY stack up against other accounts?

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.

Which Do You Think is Best?