expired Posted by ekusa • Sep 30, 2023
Sep 30, 2023 9:00 PM
Item 1 of 1
expired Posted by ekusa • Sep 30, 2023
Sep 30, 2023 9:00 PM
BMO: Open Checking Account w/ $7500 in Eligible Direct Deposits, Earn
$600 Bonus
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Deal Details
BMO is offering a $600 Cash Bonus when you open a BMO Relationship Checking Account and have a total of at least $7,500 in Qualifying Direct Deposits within the First 120 days.
Thanks to community member ekusa for sharing this deal.
Note, you can open a Relationship Checking account with $25.
Thanks to community member ekusa for sharing this deal.
Note, you can open a Relationship Checking account with $25.
Editor's Notes
Written by qwikwit | Staff- Review the complete terms and conditions here.
- Checking Offer: Get up to a $600 cash bonus when you open a new BMO Smart Money Checking account, BMO Smart Advantage Checking account, or a BMO Relationship Checking account and have qualifying direct deposits of salary or other personal income such as a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into the account from an employer or similar third party. We reserve the right to request documentation that the direct deposits qualify. Direct deposits process as a Debit Card credit or via Account to Account or Peer to Peer (e.g. Zelle®, Venmo) transfers do not qualify.
- Cash bonus is paid into the checking account approximately 130 days after account opening.
- The monthly maintenance fee for the Relationship Checking account is $25. Fee is waived if any of the following is met:
- The minimum daily Ledger Balance in your account is $10,000 or more for the previous calendar month.
- You have a Monthly Combined Balance of $25,000 for the previous calendar month.
- You're a client of our employee benefits program, Best of BMO U.S., and have requested the waiver from your BMO Banker.
- See the forum thread for deal discussion and ideas.
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
BMO is offering a $600 Cash Bonus when you open a BMO Relationship Checking Account and have a total of at least $7,500 in Qualifying Direct Deposits within the First 120 days.
Thanks to community member ekusa for sharing this deal.
Note, you can open a Relationship Checking account with $25.
Thanks to community member ekusa for sharing this deal.
Note, you can open a Relationship Checking account with $25.
Editor's Notes
Written by qwikwit | Staff- Review the complete terms and conditions here.
- Checking Offer: Get up to a $600 cash bonus when you open a new BMO Smart Money Checking account, BMO Smart Advantage Checking account, or a BMO Relationship Checking account and have qualifying direct deposits of salary or other personal income such as a paycheck, pension payment, Social Security payment, or other government benefits payment electronically deposited into the account from an employer or similar third party. We reserve the right to request documentation that the direct deposits qualify. Direct deposits process as a Debit Card credit or via Account to Account or Peer to Peer (e.g. Zelle®, Venmo) transfers do not qualify.
- Cash bonus is paid into the checking account approximately 130 days after account opening.
- The monthly maintenance fee for the Relationship Checking account is $25. Fee is waived if any of the following is met:
- The minimum daily Ledger Balance in your account is $10,000 or more for the previous calendar month.
- You have a Monthly Combined Balance of $25,000 for the previous calendar month.
- You're a client of our employee benefits program, Best of BMO U.S., and have requested the waiver from your BMO Banker.
- See the forum thread for deal discussion and ideas.
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Top Comments
What is the monthly maintenance fee for the Relationship Checking account? And how can it be waived?
The monthly maintenance fee for the Relationship Checking account is $25. But we'll waive the fee if you meet any of the following requirements:
The minimum daily Ledger Balance in your account is $10,000 or more for the previous calendar month.
You have a Monthly Combined Balance of $25,000 for the previous calendar month.
You're a client of our employee benefits program, Best of BMO U.S., and have requested the waiver from your BMO Banker.
1) Open relationship account with $25 fees, pay it for 4 months (assuming bonus payout on 130 day and grace period before fees kick in). After bonus payout, convert account to Advantage without any fees and maintain for 1 year. Net would be 600-100 fees = 500.
2) Open advantage account with $0 fees, meet terms, get 400. No need to change account type or other hassle.
In nutshell some effort for additional $100.
130 Comments
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You probably shouldn't leave zero balance in the account because technically that is not in good standing (hence putting the bonus payout at risk), but leaving only a dollar is perfectly acceptable.
I always leave the account open for a minimum of 6 months before I close it out... It looks better that way than closing immediately after the bonus posts.
1) Open relationship account with $25 fees, pay it for 4 months (assuming bonus payout on 130 day and grace period before fees kick in). After bonus payout, convert account to Advantage without any fees and maintain for 1 year. Net would be 600-100 fees = 500.
2) Open advantage account with $0 fees, meet terms, get 400. No need to change account type or other hassle.
In nutshell some effort for additional $100.
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https://about-us.bmo.com/bmo-name...r-running/
1) Open relationship account with $25 fees, pay it for 4 months (assuming bonus payout on 130 day and grace period before fees kick in). After bonus payout, convert account to Advantage without any fees and maintain for 1 year. Net would be 600-100 fees = 500.
2) Open advantage account with $0 fees, meet terms, get 400. No need to change account type or other hassle.
In nutshell some effort for additional $100.
Note you need to keep *some* money in the account to get the bonus, so don't deposit $7500 just to withdraw it all.
But I open a lot of accounts so not terribly surprising.
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