BMO Bank Review: Is It the Right Bank for You?
Accounts, fees, app and customer experience — everything you should know before you open an account with BMO.
Apply nowOur overall rating: 4.2 / 5
BMO at a glance
A long-established bank with a strong North American presence.
Founded
One of the oldest banks in North America, headquartered in Montreal.
Insured
US deposits are FDIC-insured up to the standard limit.
Digital banking
Mobile app and online banking for everyday money management.
In-person service
Branch and ATM network, strongest in the US Midwest.
Pros and cons
An honest look at what BMO does well — and where it falls short.
What we like
- Several checking and savings options for different needs
- Physical branches and ATMs for in-person help
- Full-featured mobile app and online banking
- Backed by a large, well-established institution
- Fee waivers available when requirements are met
What could be better
- Monthly fees may apply if you don't meet requirements
- Branch network is limited outside certain regions
- Savings rates can trail online-only banks
- Some perks require higher balances or direct deposit
Who is BMO best for?
Match your habits to the bank.
Branch lovers
If you value face-to-face service and nearby ATMs, BMO is a solid fit.
Everyday banking
Good for people who want checking, savings and cards under one roof.
Cross-border needs
Useful if you move money between the US and Canada.
Our verdict
BMO is a dependable, full-service bank with plenty of account choices. It's best for customers who want branch access and are happy to meet the requirements to avoid fees.
Apply on BMO's website