BMO Harris Bank National Association Reviews (9)
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This rate is phony - check the bank website: 0.05% for 1 yr CD !!!
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BMO is a very large bank with many customers and branches. I have been with it ever since it acquired a local bank in 2011 with whom I had accounts. I think that the biggest thing to take from the reviews is that they are small in number. People that are satisfied are unlikely to write reviews. If there are only 3 negative ones attributed to a bank of this scale, collectively that forms a positive review. As regards my experience with this bank, I find it at least comparable to other large banks of its size and likely a bit better than average.
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BMO Harris is not ready for prime time. This account is impossible to open online and impossible to reach a human. When I got a rep, she wanted didn't know that it was available in NY (and started explaining that it isn't available in Chicago). Take a pass.
Review on the Online bank -
BEWARE! Very easy to open MM savings account which I did with $5k ACH transfer (minimum for high yield rate). Fortunately I discovered that ACH withdrawals are limited to $5K daily limit and perhaps $10K pending total. They have 7 days notice requirement also but limits were not obvious. No answers from IM communications and customer service reps are of no help. If you intent to fund account with significant amount, liquidity becomes an issue. I will NOT place any additional funds with this bank; will close after 90 days to avoid penalty fee. STAY AWAY!!
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Ric
Mar 13, 2023 |