BMO Bank N.A.
BMO Bank Smart Money Checking Review 2026
No-fee checking from a branch-network bank — ~500 Midwest, Southeast, and West locations.
Who BMO Bank Smart Money Checking is best for
Consumers who want a $0-fee checking account at a branch-network bank with in-person access in BMO's coverage footprint.
At a glance
- Monthly fee
- $0
- Branches
- ~500
- FDIC
- Insured
- Parent
- Bank of Montreal (NYSE: BMO)
Smart Money Checking — no monthly maintenance fee; verify at bmo.com
Midwest, Southeast, and West — largest presence in Illinois, Wisconsin, Indiana, Arizona, Missouri
BMO Bank N.A. — $250K coverage per depositor
Canadian global bank — one of North America's 10 largest banks
Pros
- +No monthly maintenance fee on Smart Money Checking — straightforward account with no fee conditions
- +Branch network across ~500 locations — accessible for in-person banking in covered markets
- +Backed by Bank of Montreal (BMO) — one of North America's 10 largest banks by assets, publicly traded NYSE/TSX
- +FDIC-insured to $250,000 per depositor via BMO Bank N.A.
- +Mobile app covers standard banking functions: check deposit, transfers, bill pay
Cons
- −Branch coverage concentrated in Midwest, Southeast, and West — limited presence elsewhere
- −Checking account APY not published on the public Smart Money page
- −Less aggressive on ATM fee reimbursement than online-only banks
- −Online-only banks (Ally, Capital One 360) carry larger surcharge-free ATM networks
BMO Bank Smart Money Checking requirements
- US resident with SSN/ITIN
- At least 18 years old
- Available in US states where BMO Bank N.A. is licensed
BMO Bank Smart Money Checking alternatives
Top alternatives worth comparing from Best Checking Accounts 2026.
Ally Bank
Ally Interest Checking
Online-primary banking users who want a $0-fee checking account that earns interest and reimburses ATM fees.
Capital One Bank, N.A.
Capital One 360 Checking
Consumers who want a no-fee checking account with the option for occasional in-person banking at a Capital One location.
The Bancorp Bank, N.A. or Stride Bank, N.A. (via Chime Financial)
Chime Spending Account
Consumers who've been denied by traditional banks (ChexSystems history), want no fees, or want paychecks deposited early.
Ready to apply?
Application takes minutes. Pre-qualification (where available) uses a soft credit pull with no impact to your credit score.
Apply at BMO Bank N.A.→Last verified at the issuer on 2026-05-29
The full lineup
See all picks in Best Checking Accounts 2026
Editorial methodology + complete ranking criteria + side-by-side comparison of all picks.
Read the full guide →Bottom line
BMO Bank Smart Money Checking scores 4.0 / 5 on the ClearValue Rating — a deterministic editorial composite from the product's own published fees, terms, and eligibility. Best for: Consumers who want a $0-fee checking account at a branch-network bank with in-person access in BMO's coverage footprint.
◆ How we scored it
The ClearValue Rating, broken down.
- Cost
- 35%
- Fit & approval odds
- 30%
- Speed & terms
- 20%
- Transparency
- 15%
Cost (35%), Fit & approval odds (30%), Speed & terms (20%), Transparency (15%) — scored consistently across every product, independent of compensation. Full methodology →
Frequently asked
Questions about BMO Bank Smart Money Checking
Is BMO a good bank?+
BMO Bank N.A. (formerly BMO Harris Bank) is a legitimate, FDIC-insured bank and a subsidiary of Bank of Montreal — one of North America's 10 largest financial institutions by assets, publicly traded on the NYSE and Toronto Stock Exchange (ticker: BMO). It offers standard personal checking, savings, mortgage, auto loan, and investment products. For consumers in BMO's branch footprint (Illinois, Wisconsin, Indiana, Arizona, Missouri, and other Midwest/West markets), it is a credible traditional banking option.
What are BMO Bank's fees on checking accounts?+
BMO Bank's Smart Money Checking account carries no monthly maintenance fee, as published on the bmo.com US personal banking page. Other potential fees — overdraft fees, wire transfer fees, out-of-network ATM fees — vary and are disclosed in the account's fee schedule, which you should review at bmo.com before opening. Verify current fee structure directly with BMO Bank, as fee schedules can change.
Is BMO Bank FDIC insured?+
Yes. BMO Bank N.A. is an FDIC-insured institution. Deposits are insured up to $250,000 per depositor, per ownership category under standard FDIC coverage rules. You can verify BMO Bank N.A.'s FDIC membership status at fdic.gov. BMO Bank N.A. is the rebranded successor to BMO Harris Bank N.A. — the FDIC charter continued through the 2023 rebrand.
Is ClearValue Lending affiliated with BMO Bank?+
ClearValue Lending is a financial platform, not a bank. This review is for informational purposes. We may receive compensation if you click through and open an account. Verify current account terms, fees, and branch locations at bmo.com before opening.
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Independent editorial review. ClearValue Lending is a business & personal financing platform — not a lender, broker, or financial advisor. Some links are affiliate links; the issuer may pay a referral commission at no cost to you, which never changes the score. Specific product terms vary; verify with the issuer before applying. See privacy policy.