Bank of America vs BMO
Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to BMO? Read our comparison chart below.
Bank of America is one of the largest banks in the U.S. with approximately 3,700 locations and 15,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
While BMO has over 900 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.
Compare Bank of America with BMO, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Learn More | Visit Site | |
Bank of America | BMO | |
|---|---|---|
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer | BMO Smart Advantage Checking account - Earn $400 Cash Bonus* - | |
Benefits and Features | ||
| Savings | Bank of America Advantage Savings Standard Rate: 0.01% APY | 0.01% APY. $5 reward every month you save $200 or more, for the first year. |
| CD |
| 0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. |
| Checking |  | Smart Advantage, Smart Money, Relationship |
| Money Market | Up to 2.68% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance. | |
| Mobile App | ||
| ATMs | ||
| Customer Service |
| Mon-Fri: 7am - 11pm (CT); Sat-Sun 8am - 10pm |
| IRA CD | | 0.05% - 1.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit |
| IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |   | |
| CD |  | |
| Checking | | |
| Mobile App | | |
| Customer Service | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | National bank with widespread accessibility and wide range of services... | Midwest bank with options for low and high-balance customers... |
| Learn More | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Bank of America: Pricing information from published website as of 08/06/2025 based on 91107 zip code. BMO: Pricing information from published website as of 08/10/2025 based on 60603 zip code. | ||
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2025.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
Business Advantage Relationship Banking
- No fee for first 500 transactions per statement cycle
- No fee for first $20,000 in cash deposited per statement cycle
- Multiple ways to avoid the $29.95 monthly fee
Business Advantage Fundamentals™ Banking
- No fee for first 20 transactions per statement cycle
- No fee for first $5,000 in cash deposited per statement cycle at an ATM or Financial Center
BMO Smart Advantage Checking account - Earn $400 Cash Bonus*
$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 5/5/25 - 9/8/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
BMO Smart Money Checking account - Earn $400 Cash Bonus*
$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 5/5/25 - 9/8/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
Which is Better: Bank of America or BMO?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.
Articles on Bank of America
Bank of America Review
Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.
Bank of America Savings Account Interest Rate
Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.
Does Bank of America Have a High Yield Savings
Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.
Bank of America Problems
Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.
Bank of America CD Rates
Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.
How to Close a Bank of America Account
Want to close your Bank of America account? Learn how and what you need to do before you close your account.
Bank of America Hours
Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.
Bank of America Routing Number
Find your Bank of America routing number and learn about money transfers in our guide.
Articles on BMO
BMO Review
BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.
BMO Routing Number
If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.
BMO Checking Account Bonus & Promotions
BMO rolls out enticing checking offers from time to time to attract new customers. Find the latest bonus deals here.
Who Owns BMO
BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.
Is BMO an Ethical Bank
BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.
BMO Relationship Minimum Balance
Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.
Is BMO a Good Bank
Is BMO a good choice for your banking needs? Find out here.
Is BMO a Safe Bank
Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.
What is BMO
BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.
BMO Smart Money vs Smart Advantage
BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.
Is BMO a Real Bank
BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.
Which Do You Think is Best?
Which Bank Account is Right for You?
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