BMO Checking Account $400 Cash Bonus* – Ends 9/8/25

Looking for an easy way to earn a cash bonus* while opening a new checking account? Now’s the perfect time to consider BMO, as they are offering a $400 cash bonus* for new checking account customers. This promotion runs from May 5, 2025 through September 8, 2025, and includes options like the BMO Smart Advantage Checking account and BMO Smart Money Checking account, both tailored to meet different banking needs.

Here’s everything you need to know about this offer and how you can make the most of it.

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BMO $400 Checking Cash Bonus*

How To Earn The Bonus:

• Open a New Account: Choose between the BMO Smart Advantage Checking account or BMO Smart Money Checking account during the promotional period, from May 5, 2025 to September 8, 2025.
• Complete Qualifying Activities: Make sure you have at least $4,000 in qualifying direct deposits within the first 90 days to qualify for the $400 cash bonus*.
• Offer Availability: This promotion is available nationwide, so anyone in the U.S. can participate.

*Conditions apply and other offers may be available. Provided in the U.S. BMO Bank N.A. Member FDIC

Read additional details

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Account Features & Comparison

When considering a new checking account with BMO, two great options stand out: the BMO Smart Advantage Checking and the BMO Smart Money Checking accounts. Both offer unique benefits designed to cater to different financial needs. Below is a detailed comparison to help you decide which account might be the best fit for you.

BMO Smart Advantage Checking Account

Key Features:

• No monthly fees with paperless statements: One of the most appealing aspects of the BMO Smart Advantage Checking account is no monthly fees with paperless statements. This makes it an excellent option for individuals looking to avoid account fees without needing to meet any specific requirements.
• Minimum Opening Deposit: $25 is required to open the account, which is a fairly standard low minimum, making it accessible for most customers.
• ATM Access: You get fee-free access at more than 40,000 Allpoint ATMs nationwide.
• Online and Mobile Banking^1,2: Enjoy robust digital banking features, including mobile deposits, bill pay, and 24/7 account access via BMO’s online platform or mobile app.
• Overdraft Protection³: Available if you enroll, helping you avoid overdraft fees when linked to another BMO account.

Best For:

The BMO Smart Advantage Checking account is ideal for those who want a basic, no-frills checking account with no monthly maintenance fee with paperless statements. It’s great for individuals who don’t need many extras and prefer to keep their banking simple and cost-effective.

BMO Smart Money Checking Account

Key Features:

• Monthly Maintenance Fee: The BMO Smart Money Checking account has a $5 monthly maintenance fee. However, this fee can be waived if the account holder is under 25 years old, making it especially attractive for younger individuals.
• No Overdraft Fees³: A standout feature of the BMO Smart Money Checking account is that it doesn’t charge overdraft fees. This can provide peace of mind for those concerned about accidentally overdrawing their account.
• Minimum Opening Deposit: Like the BMO Smart Advantage Checking, this account also requires a minimum deposit of $25 to open.
• ATM Access: Similar to the BMO Smart Advantage account, it provides fee-free access to BMO ATMs, but you may incur charges at out-of-network ATMs.
• Online and Mobile Banking^1,2: Full access to BMO’s digital banking tools, including mobile deposits, online bill pay, and account management through the app or website.

Best For:

The BMO Smart Money Checking account is tailored for younger customers or those who frequently worry about overdraft fees. Its low monthly maintenance fee and no overdraft charges make it an appealing choice for individuals who want more protection from unexpected fees.

Comparison Summary

Feature	BMO Smart Advantage Checking	BMO Smart Money Checking
Monthly Maintenance Fee	$0	$5 (waived for under 25)
Overdraft Fees3	Standard overdraft fees apply	No overdraft fees
Minimum Opening Deposit	$25	$25
ATM Access	Free at BMO ATMs and Allpoint network	Free at BMO ATMs and Allpoint network
Monthly Fees	No monthly fees with paperless statements	Monthly maintenance fee waived for customers under 25
Best For	Fee-conscious customers	Younger customers or overdraft-prone

Which One Should You Choose?

• If you’re looking for no monthly maintenance fee and a simple, hassle-free checking experience, the BMO Smart Advantage Checking is a clear winner.
• However, if you’re under 25 or prefer a checking account with no risk of overdraft fees, the BMO Smart Money Checking might be the better option for you.

Ultimately, your choice depends on your specific financial needs, whether you prioritize avoiding fees or having extra protection against overdrafts. Both accounts offer excellent features and are backed by BMO’s robust digital tools and nationwide network.

DISCLAIMERS:

¹Mobile deposits – Mobile Check deposits: Mobile Deposit is available using the BMO Digital Banking app. This service may not function on older devices. Users must be a BMO Digital Banking customer with a BMO account opened for more than 5 calendar days. Deposits are not immediately available for withdrawal. For details, explore the BMO Digital Banking Agreement found at bmo.com/en-us/legal.

²Digital Banking – Certain conditions and limitations apply. The Digital Banking Guarantee and Bill Pay Service Guarantee apply to personal accounts only. Please see the BMO Digital Banking Agreement found at bmo.com/us/legal for details.

³Overdraft fees – Items that overdraw the account are returned and ATM/everyday debit card transactions are declined

READ MORE: ALSO SEE OTHER POPULAR OFFERS FROM CHASE, KEYBANK AND MORE.

Bonus Tip: Maximize Your Earnings with the BMO Savings Builder Account

The BMO Savings Builder account provides a unique opportunity to earn up to $60 in savings rewards during your first year. By increasing your account balance by at least $200 each month, you’ll receive $5 per month for 12 months*. This structure sets it apart from traditional savings accounts, which often have one-time bonuses or require maintaining a minimum balance for a set period.

Unlike other banks that offer a flat bonus just for opening an account, BMO rewards consistent savings growth over time, making it an ideal choice for those looking to build their savings steadily.

*Conditions apply and other offers may be available. Provided in the U.S. BMO Bank N.A. Member FDIC

My Impression Of The Offer

For me, the BMO Smart Advantage Checking account was perfect. I didn’t want to worry about monthly maintenance fees or juggling balance requirements, and the no-fee structure of BMO Smart Advantage gave me peace of mind. I also appreciated the ease of qualifying for the bonus. Meeting the direct deposit requirement was straightforward, and the $400 bonus was credited fairly quickly. Of course, keep in mind that bonuses are taxable, so you’ll need to report it come tax season.

Overall, both accounts offer solid benefits and the same bonus, but for someone like me who values ease and simplicity, BMO Smart Advantage Checking was the clear winner. This bonus may not last forever, so do look to open an account before it expires.

READ MORE: SEE MORE BMO BANK BONUSES HERE

READ MORE: SEE THE BEST BANK BONUSES HERE

By John Huynh, with over two decades in finance and investing, including as a Senior Finance & Operations Manager at a renowned research institute and degrees in Economics and International Studies from UC Irvine. Edited by Tony Jay, a seasoned finance blogger and Executive Editor with two decades in banking, specializing in online banking and savings strategies. Tony holds a doctorate from Tulane University.