If you are looking for a new bank, check out BMO! You can utilize their digital and mobile banking tools to manage your money and reach your financial goals.
Available nationwide, BMO Online Savings is offering a generous 4.45% APY Rate on your funds.
Update 11/23/24: The rate has decreased to 4.45% APY from 4.60%.
You will receive these APYs if you do not reside in Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri or Wisconsin.
Remember, you can earn a cash bonus when opening a new BMO Checking account.
About BMO
Established in 1882, BMO has over 600 locations throughout Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, and Wisconsin.
They are the 2nd largest bank in the State of Illinois where they are headquartered (Chicago). BMO Bank offers a variety of checking and savings accounts, including Money Market, CD, and IRA products.
| Balance | APY |
| $0.01+ | 4.45% APY |
BMO Online Savings Rate
- Account Type: Online Savings
- Interest Rate: 4.45% APY
- Availability: Nationwide. Except for Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri or Wisconsin.
- Minimum Balance: None
- Maximum Balance: None
- Credit Inquiry: Soft Pull
- Opening Deposit: None
- Monthly Fee: None
- Early Termination Fee: $50 if closed within 90 days
(FDIC Insured)
BMO ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | 1 to 2 days | $5K | $25K | No limits on the number of links that you can establish |
| Pull | 1 to 2 days | $5K | $25K |
You can easily transfer funds between your BMO Alto accounts, and up to five external accounts with BMO Alto Online Banking. You must be the owner or co-owner of the external account to transfer funds to or from your BMO Alto account online.
Editor’s Note: BMO Bank is not a great bank to use for ACH Transfers for pushing or pulling money. I highly recommend to use SoFi or CIT Bank Savings as your HUB account for all ACH transfers.
Why You Should Sign Up For This Account
- Track your savings goals with Total Look
- With BMO Total Look®, you can manage your accounts in one secure location, track your spending and create a personalized budget.
- 40,000+ fee-free ATMs across the U.S
- Enjoy unlimited fee-free transactions at 40,000+ Allpoint® ATMs nationwide.
- Bank on the go with our handy tools
- You have the freedom to bank your own way – deposit checks pay bills, monitor transactions and more with BMO Digital Banking.
- Experience dedicated customer support
- Get personalized assistance in whatever way works best for you. We offer online chat, phone and in-branch support.
Bottom Line
Finally, check out BMO and open an Online Savings account this amazing rate!
Keep in mind, there is no minimum opening deposit in order to start earning this high rate.
Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more, see our list of the latest banking promotions from BMO Bank.
Let us know about your experience with this bank and comment below.
Jesus Christ! 5/25k?! That’s even worse than Bread Savings!
I guess it’s not that uncommon to see that low of ACH transfer rates, banks claim it’s done for security and I see that but on the customers side, what if you need a larger amount to transfer out?