BMO vs Ponce Bank

BMO is a midwest bank with options for low and high-balance customers. How does it compare to Ponce Bank? 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 Ponce Bank was founded in the Bronx in 1960 by Puerto Rican migrants, at a time when traditional banks had abandoned the neighborhood. Today, they are a proud certified Minority Depository Institution and Community Development Financial Institution (CDFI), and remain dedicated to serving financially-vulnerable communities.

Their not-for-profit, The Ponce de Leon Foundation, supports local initiatives in affordable housing, education, healthcare, and more.

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

	BMO	Ponce Bank
	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus* - Learn More Read BMO Review	SPECIAL OFFER Money Market Deposit Account - 4.52% APY - Learn More Read Ponce Bank Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD	0.05% - 3.50% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	3-Month High-Yield CD - 4.52% APY 4 Month No-Penalty CD - 4.20% APY 6-Month High-Yield CD - 4.00% APY 1-Month High-Yield CD - 3.00% APY 9-Month High-Yield CD - 3.00% APY 48-Month High-Yield CD - 1.61% APY 13-Month High-Yield CD - 1.31% APY 11-Month High-Yield CD - 1.21% 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
Customer Service	Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm
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	14 branch locations
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Fees
Pros & Cons	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY	Pros: Various savings options Low monthly fees Wide ATM network Cons: Limited physical location
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	Community bank that offers several high-yield savings options through Raisin... Read full review
	Visit Site	Visit Site
	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	Money Market Deposit Account - 4.52% APY 6-Month High-Yield CD - 4.00% APY 48-Month High-Yield CD - 1.61% 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. Ponce Bank: Pricing information from published website as of 12/20/2024.

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

Get Deal

Expires 2/3/2025

Which is Better: BMO or Ponce 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 or Chase.

In short: Ponce Bank's cd and money market are impressive.