BMO Smart Advantage Checking is BMO’s flagship no-fee checking account. Opened online, 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), Smart Money $5/month (no OD fees), 40,000+ fee-free ATMs.
BMO Checking Accounts Compared
| Account | Monthly Fee | Fee Waiver | Overdraft Fee | Best For |
|---|---|---|---|---|
| Smart Advantage | $0 (online) / $5 (branch) | Open online | $15/item | Most customers |
| Smart Money | $5 | None | $0 (transactions declined) | OD-prone customers |
| Plus Checking | $10 | $1,500 balance or $500 DD | $15/item | 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 for your state — see BMO routing number)
- Online and mobile banking
- Account alerts
Overdraft: $15 per item — lower than Chase ($34), Wells Fargo ($35), and Bank of America ($35). 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 only when the account is opened online. Branch-opened accounts have a $5 monthly fee (waived with $1,500 balance).
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 have paid $30–$35 per incident. Even one overdraft/month at Chase costs $34 — more than Smart Money’s $5/month fee.
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. Typical BMO Zelle limits:
- Standard: Up to $1,000/day, $5,000/month
- Plus Checking: Higher limits (up to $2,500/day)
BMO Smart Advantage vs. Competitors
| Feature | BMO Smart Advantage | Chase Total | TD Bank Complete |
|---|---|---|---|
| Monthly fee | $0 (online) | $12 | $15 |
| Fee waiver | Online only | $500 DD | $100 min balance |
| Overdraft fee | $15 | $34 | $35 |
| ATMs | 40,000+ | 16,000+ | 1,300 |
| Branches | 500+ (Midwest) | 4,700+ | 1,100 (Northeast) |
BMO wins on overdraft fee amount and 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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