BMO Bank National Association Reviews (11)
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Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in other institutions, forget you.......
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I do not recommend this bank! I want a cd at 5%, and they have all kinds of legal hurdles to jump through to put the CD in a living trust for my children if anything happens to me. It is documented, but they requested all kinds of documents. So, I went with my local credit union offering the same interest rate, with a whole lot less hassle and they easily accepted my living trust for my children! I refuse to work with a bank that isn't user friendly, especially if I have the money to invest in a CD! BMO doesn't deserve my business!
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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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Beenthere
Jan 29, 2024