BMO Smart Advantage Checking Review

No monthly fee with paperless statements, and up to $600 in cash bonuses for new customers in 14 states.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked October 12, 2026.

Our verdict

BMO's Smart Advantage Checking has no monthly fee with paperless statements, and the new-customer bonus is the reason to look: $100 a month for up to six months, each month needing $1,000 in payroll-type direct deposits, for people in 14 states who open by December 15, 2026. A month short of $1,000 earns nothing for that month, and overdrafts cost $20 an item.

Skip it if you don't live in one of the 14 bonus states, can't route $1,000 a month in direct deposits, or already bank with BMO.

About BMO Smart Advantage Checking

No monthly fee with paperless statements, and up to $600 in cash bonuses for new customers in 14 states. BMO Smart Advantage Checking is offered by BMO Bank N.A. We could not find a published customer rating for it on Trustpilot or the Better Business Bureau, so none is shown.

Best for: New customers in BMO's footprint who get paid by direct deposit.

Editorial grade: B (composite score 77/100).

Highlights

New checking customers who open between 9/9/26 and 12/15/26 with the promo code can earn $100 a month for up to six months, each month they receive $1,000 or more in qualifying direct deposits (BMO's own offer page)
No monthly maintenance fee when you choose paperless statements, and no minimum balance
$25 minimum opening deposit; Zelle with no user fees from BMO

What we like

No monthly maintenance fee with paperless statements, and no minimum balance
A low $25 opening deposit
In-person service at BMO financial centers, plus digital banking
Zelle with no user fees from BMO

Where it falls short

The bonus is paid in $100 monthly installments, and a month without $1,000 in qualifying direct deposits earns nothing for that month
The bonus is open only to people who live in AZ, CA, CO, FL, IA, IL, IN, MN, NM, NV, OR, UT, WA or WI, and not to current BMO checking customers or anyone who closed a BMO personal checking account in the past 12 months
$20 for each overdraft, and $3 for paper statements and for check images unless an account holder is 65 or older

Fees, minimums, and rates

Monthly fee: $0/month with paperless statements. Minimum to open: $25. New-customer bonus: Up to $600. Rates and fees last checked on October 12, 2026.

How we reviewed it

This is a desk review: we have not opened an account with BMO Bank N.A.. It is built from BMO Bank N.A.'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

BMO Bank, FDIC certificate 16571: capital, loan quality, every office and the complaint record.

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Read our full editorial methodology for how we review products.