BMO Smart Advantage Checking is BMO’s flagship no-fee checking account. Opened online with e-statements, it has a $0 monthly fee with no minimums. BMO Smart Money Checking ($5/month) offers an alternative with zero overdraft fees — transactions are declined instead. BMO customers access 40,000+ fee-free ATMs nationwide.
Key facts: Smart Advantage $0/month (online + e-statements), Smart Money $5/month (no OD fees), 40,000+ fee-free ATMs. BMO’s exact overdraft fee for Smart Advantage is not consistently reported — confirm directly with BMO.
BMO Checking Accounts Compared
| Account | Monthly Fee | Fee Waiver | Overdraft Fee | Best For |
|---|---|---|---|---|
| Smart Advantage | $0 (online + e-statements) / $5 (paper) | Online + e-statements | Confirm current fee with BMO | Most customers |
| Smart Money | $5 | None | $0 (transactions declined) | OD-prone customers |
| Plus / premium tiers | Confirm current fee with BMO | Confirm current terms | Confirm current fee with BMO | Higher limits + perks |
Smart Advantage Checking: The Primary Account
Features:
- Visa debit card (contactless-enabled)
- Zelle integration
- Bill pay
- Mobile check deposit
- Direct deposit (with routing number — see BMO routing number)
- Online and mobile banking
- Account alerts
Overdraft: Reported figures range from around $15 to as much as $37 per item across different sources. Confirm the current exact fee directly at bmo.com or by calling 1-888-340-2265 before relying on a specific number. BMO also offers an overdraft transfer from a linked BMO savings account to cover shortfalls before an overdraft fee applies.
Online vs. branch opening: The $0 fee is available when the account is opened online and enrolled in e-statements. Paper-statement or branch-opened accounts may carry a $5 monthly fee — confirm current terms with BMO.
Smart Money Checking: No Overdraft Fee Option
Smart Money is designed for customers who want a simple, predictable checking account with no overdraft risk:
- Monthly fee: $5 (cannot be waived)
- Overdraft: Never. Transactions that would overdraft are declined.
- Benefit: No surprise overdraft fees, no negative balance, predictable monthly cost
- Tradeoff: $5/month regardless of balance or direct deposit; $60/year
Who benefits: Customers who occasionally overdraft at other banks and want to avoid the risk of a per-item overdraft fee, once you’ve confirmed what that fee currently is.
ATM Network
BMO provides access to 40,000+ fee-free ATMs:
- BMO-branded ATMs in BMO branch locations
- Allpoint network ATMs (convenience stores, pharmacies, grocery stores nationwide)
Out-of-network: $3 per transaction from BMO, plus any ATM owner surcharge. BMO does not reimburse these fees on any personal checking account.
Zelle Limits at BMO
BMO checking accounts support Zelle for instant person-to-person transfers. Reported BMO Zelle limits:
- Standard: Up to $1,000/day, ~$5,000/month
- Premium tiers: Higher limits reported — confirm current figures with BMO
BMO Smart Advantage vs. Competitors
| Feature | BMO Smart Advantage | Chase Total Checking | TD Bank Complete |
|---|---|---|---|
| Monthly fee | $0 (online + e-statements) | $15 | $15 |
| Fee waiver | Online + e-statements | $500 DD, $1,500 balance, or $5,000 combined | $100 min balance |
| Overdraft fee | Confirm current fee with BMO | $34 | $35 |
| ATMs | 40,000+ | 16,000+ | 1,300 |
| Branches | 500+ (Midwest) | 4,700+ | 1,100 (Northeast) |
Confirm current figures for other banks directly, as fee schedules can change. BMO wins on ATM network size. Chase and TD Bank have broader branch footprints.
See also: BMO Bank review | BMO savings account | BMO fees | BMO routing number
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