BMO Bank $400-$1,500 Business Checking Bonus

Update 8/5/26: Extends through 08/31/2026. It also now has a level of $1,500.

Expires 4/30

Update 9/4/25: The $350 bonus has been increased to $400 and now also has a $1000 tier. Now valid until January 28, 2026.

Offer at a glance

• Maximum bonus amount:1000 dollars
• Availability: On a national scale
• Direct deposit required:No.
• Additional requirements:See below
• Hard/soft pull:Soft
• ChexSystems:yes
• Credit card financing:Cannot be financed by credit card
• Monthly fees:15-20 dollars
• Early account closure fee:$50 if closed within 90 days, bonus will be posted after 120 days
• Family boundary:ANY
• Expiration date:October 31, 2018 October 31, 2019 January 31, 2020 September 30, 2020 January 31, 2021 April 30, 2021. May 31, 2021

Offers

Direct link to the offer

• BMO Harris is offering three check bonuses. Must open a new BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account and complete 10 debit card transactions within 90 days of account opening. The bonus you get depends on the average balance collected in the account from Day 30 to Day 90.
  • $400 Bonus: $4,000 – $24,999.99
  • $750 Bonus: $25,000+
  • $1000 bonus: $50000+
  • $1500 Bonus: $100,000+

Fine Press

• You can get either the $200 check bonus or the $500 check bonus.
• To receive a check bonus, you must open the account at a BMO Harris branch and present the promotional code email from BMO Harris.
• Your account must be open and in good standing when the bonus is paid approximately 120 days after opening.
• For the Business Advantage Check, accrued interest will be increased by the bonus amount.
• The accrued interest will be credited to the next scheduled interest payment, which may be after 120 days.
• Offers not available to existing BMO Harris Business Checking customers or those who have closed a BMO Harris Business Checking account within the last 12 months.
• The bonus is not considered part of the opening deposit and will be reported to the IRS for tax purposes.
• You are responsible for any applicable taxes.
• Offers are subject to change without notice, cannot be combined with any other offer and are limited to one per customer. The minimum deposit to open a small business checking account is $100, however to receive the bonus you must open the account with the minimum as stated below.
• To claim the $200 check bonus:1) Open a new Essential Business Checking account between November 1, 2018 and October 31, 2019. 2) Make a minimum opening deposit of $1,500 in funds not currently on deposit at BMO Harris Bank or its affiliates. 3) Maintain a minimum daily balance of at least $1,500 in the account for 90 days after opening the account. 4) Have at least 10 electronic transactions posted to the account within 90 days of opening the account. Electronic transactions can be any combination of ACH credits or debits, online bill payments, mobile deposits, wire transfers, or POS debit card purchase transactions. ATM transactions and POS credits do not qualify.
• To claim the $500 check bonus:1) Open a new Business Advantage checking account between November 1, 2018 and October 31, 2019. 2) Make a minimum opening deposit of $5,000 in funds not currently on deposit at BMO Harris Bank or its affiliates. 3) Maintain a minimum daily balance of at least $5,000 in the account for 90 days after opening the account. 4) Have at least 10 electronic transactions posted to the account within 90 days of opening the account. Electronic transactions can be any combination of ACH credits or debits, online bill payments, mobile deposits, wire transfers, or POS debit card purchase transactions. ATM transactions and POS credits do not qualify.
• All bank account bonuses are treated as income/interest and as such you must pay tax on them

Avoidance of fees

You don’t need a specific account right now and the first three months of fees are waived. After that the fees are as follows:

• Simple Biz Control. Requires a monthly balance of $100
• Essential Business Control: $15 monthly maintenance fee. Quit with average accumulated balance of $1,500
• Business Advantage Control: $20 monthly maintenance fee. Quit with average accumulated balance of $5,000

Our verdict

Seems like a lot to me, the requirements should be easy enough to meet for most people. Which bonus you go for will likely depend on whether you can float $5000 or not, the $500 deal is definitely better if you can. Either way, both deals are a 10% return over the course of 120 days or more (annual return of 30%+). That’s the good news, the bad news is that BMO Harris is notorious for slow bonus posting and you have to manually track to get your bonus. If you don’t believe me please read personal bonus reviews. Since this has an affiliate component and is for businesses, I hope the bonus posting will be easier. Either way, I would get your bank contact details and a reference number for your application when you sign up so you have a good point of contact if anything goes wrong. I will add this to our best business checking bonuses for sure.

Also since I’m sure some people won’t read the fine print, yes you will be able to get this bonus even if you got a personal account bonus and even if you still have that personal account.

Hats off to him to abhirupduttam

Useful posts about bank bonuses:

• A Beginner’s Guide to Bank Account Bonuses
• Bank Account Quick Reference Table (Calculated Sheet) (very useful for ranking bonuses according to different parameters)
• PSA: Don’t call the bank
• Login to ChexSystems
• Banks and credit unions that are sensitive to ChexSystems requirements
• What Banks and Credit Unions Do/Don’t Attract ChexSystems?
• How to use our direct deposit site for banking bonuses site
• Common Bonus Bank Misconceptions + Why You Should Give Them a Go
• How many bank accounts can I safely open in a year for the purposes of the bank bonus?
• Affiliate links and bank bonuses – We will not use them
• Complete list of ways to close bank accounts in each bank
• Banks that allow/disallow overseas check applications
• Bank bonus posting times

Post History:

• Postponed until September 2, 2025
• Added by 04/30/25
• Update 9/11/24: The deal runs through October 31, 2024
• Update 7/29/24: The deal goes back to September 9, 2024.
• Update 1/10/24: The bonus is back, the $400 and $600 tiers have been reduced to $300/$500 and there is a new $1000 tier. It might be worth waiting for the $400/$600 levels to come back.
• Update 9/19/23: The deal is back and increased from $300 to $400 and $500 to $600. Valid until December 8, 2023.
• Update 5/21/23: Bonuses are now $300/$500.
• Update 5/16/23: The bonus has been extended until September 15, 2023
• Update 2/5/23: Extends through 5/12/23.
• Update 11/1/22: Bonus has been reduced to $250/$400.
• Update 6/12/22: The bonus has increased again to $300/$500.
• Update 5/3/22: Extends through May 31st.
• Update 2/21/22: now $250 and $400 until April 29, 2022
• Update 1/5/22: Offer is back and valid until January 31, 2022.
• The offer lasts until October 29, 2021
• Update 12/7/21: Valid through September 30, 2021.
• Update 6/30/21: Offer is back and valid through July 11, 2021. Hat tip Ted
• Update 5/11/21: The deal has been extended through May 31, 2021.
• Update 2/12/21: The deal has been extended until April 30, 21. Hat Tip Carl J
• The deal has been extended through January 31, 2021. Update 7/18/20: The deal has been reinstated through September 30, 2020. Hat tip to the reader Carl
• Update 2/1/20: The deal has been extended to April 30, 2020. The length of time money must stay in the account has changed from 60 to 90 days
• Update 11/3/19: The bonus is extended until January 31, 2020.

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