BMO Harris, $500 Business Checking Bonus In Select States

BMO Harris, $500 Business Checking Bonus

BMO Harris is offering two bonuses for business checking account. You can earn up to $500 in cash. This bank has been a hassle to deal with regarding personal bonuses but hopefully this BMO Harris $500 business bonus is less of a headache. Let’s see the details.

Offers

There are two separate offers:

• To receive the $300 checking bonus:

  1. Open a new BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account between May 15, 2023 and September 15, 2023.
  2. On Day 120 after account opening, your Average Collected Balance over the 120 days must be at least $4,000. The Average Collected Balance is calculated by adding the Collected Balance in the Account for each day of the 120 days and dividing that figure by 120.
  3. Have at least ten (10) electronic transactions post to the account within 120 days of account opening. Electronic transactions can be any combination of: ACH credits or debits, real-time payments, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions. ATM transactions and POS credits do not qualify as electronic transactions.

• To receive the $500 checking bonus:

  1. Open a new BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account between May 15, 2023 and September 15, 2023.
  2. On Day 120 after account opening, your Average Collected Balance over the 120 days must be at least $10,000. The Average Collected Balance is calculated by adding the Collected Balance in the Account for each day of the 120 days and dividing that figure by 120.
  3. Have at least ten (10) electronic transactions post to the account within 120 days of account opening. Electronic transactions can be any combination of: ACH credits or debits, real-time payments, online bill payments, mobile deposits, wire transfers or debit card POS purchase transactions. ATM transactions and POS credits do not qualify as electronic transactions.

You are only eligible for one (1) business checking bonus. Day 1 is the day you open your account and begins the tracking period. If you open your account on a day other than a Business Day, Day 1 is the next Business Day. The bonus you qualify for will be deposited into the new checking account within 14 days of meeting the respective promotion requirements stated above, approximately Day 135.

In order to receive the bonus, you must 1) meet the associated criteria for the respective offer mentioned above, 2) your checking account must be in an open status and in good standing with a balance greater than zero on the day of payment, and 3) be either a BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account.

Eligibility

To open an account, you must be a new customer and have a business that is located in one of the following states: Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, or Wisconsin. You can open an account in person at any BMO Harris branch in these states, or you can do so online.

If you are an existing BMO Harris business checking customer or have closed a BMO Harris business checking account within the past 12 months, you are not eligible for these offers.

Fees

• Essential Business Checking
  • $15 monthly maintenance fee waived with $1,500 Average Collected Balance
• Business Advantage Checking
  • $20 monthly maintenance fee waived with $5,000 Average Collected Balance or $15,000 in collective balances
  • Fee waived for first three months

Guru’s Wrap-Up

BMO Harris is offering two bonuses, one for $300 and the other for $500. There’s no direct deposit requirement, but you need to have an average balance of $4,000 or $10,000 for 120 days. You also need to complete 10 electronic transactions such as ACH transfers, debit purchases, bill payments and more.

Some data points in the past show that this might not be the easiest bank to deal with. The bonus takes 135 days to post and you might need to request it yourself. But there’s no direct deposit requirement, which makes it easier for most people who are in eligible states.

Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

Offer Details

• OFFER PAGE
• Account Type: Business Checking
• Availability: AZ, FL, IL, IN, KS, MO, MN, WI
• Type of Inquiry: Soft pull
• Direct Deposit Requirement: No
• Other Requirements: 10 transactions and $4K or $10K deposit
• Credit Card Funding: No
• Monthly Fee: $15/$20 (can be waived)
• Closing Account Fee: Must keep account open for 120 days to receive bonus
• Expiration Date: 9/15/23

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