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BMO Review 2026

BMO (Bank of Montreal) expanded significantly in the US through its acquisition of Bank of the West. It offers a range of personal and commercial banking products across multiple states.

Founded

1817

Headquarters

Chicago, IL

Total Assets

$300 billion

Branches

500+

BankingDeal Rating

Based on rates, fees, features, and customer satisfaction

3.9

out of 5.0

Rates & Fees

ProductRate / Fee
Savings APY4.00%
12-Month CD APY4.50%
Checking Monthly Fee$0

Rates shown are for illustration. Verify current rates directly with BMO.

Products Offered

Checking Accounts
Savings Accounts
CDs
Credit Cards
Mortgages
Business Banking

Pros & Cons

Pros

  • +Competitive savings and CD rates
  • +Growing US branch network
  • +Strong digital banking platform
  • +No-fee checking options
  • +Canadian banking integration

Cons

  • -Still integrating Bank of the West branches
  • -Limited presence in some regions
  • -Brand awareness lower than big US banks
  • -Some legacy systems being updated

Our Verdict

BMO is a decent option for those who value 500+ branch locations and a full suite of banking products. Competitive savings and CD rates, making it worth considering in the traditional banking space. With a savings APY of 4.00%, it offers competitive returns on your deposits.

Related Resources

How to Open a Savings Account
What Is a CD?
Compare Savings Accounts by State
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Frequently Asked Questions

Is BMO a good bank?

BMO has a rating of 3.9/5 on our scale. Competitive savings and CD rates. However, still integrating bank of the west branches. Whether it is right for you depends on your specific banking needs and priorities.

What is the savings account APY at BMO?

BMO currently offers a savings APY of 4.00%. This is a competitive rate compared to the national average. Rates are subject to change. Verify current rates directly with BMO.

Does BMO charge monthly fees?

BMO offers checking accounts with no monthly maintenance fee.

What products does BMO offer?

BMO offers Checking Accounts, Savings Accounts, CDs, Credit Cards, Mortgages, Business Banking. Services are available online, through the mobile app, and at 500+ branches nationwide.

Where is BMO headquartered?

BMO is headquartered in Chicago, IL. Founded in 1817, BMO Financial Group has grown to manage $300 billion in total assets. It operates 500+ branches.