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BMO Savings Rates: Pros, Cons and Alternatives


Published on 2025-03-25 18:20:54 - Insider
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  • BMO Savings Account review, we analyze BMO savings rates and BMO Alto savings rates. We also look at fees and customer service options.

The article from MSN Money discusses BMO's savings account offerings, highlighting their features, benefits, and drawbacks. BMO Harris Bank provides various savings accounts like the BMO Harris Statement Savings, BMO Harris Savings Builder, and BMO Harris Premier Money Market Account. Key points include competitive interest rates, especially for the Savings Builder account which offers higher rates for maintaining a minimum balance or making regular deposits. However, the article notes that BMO's rates are not the highest in the market, and there are fees associated with some accounts, like monthly maintenance fees unless certain conditions are met. It also mentions the convenience of BMO's extensive ATM network and online banking services. On the downside, the physical branch presence is limited to certain states, which might be inconvenient for some customers. The article concludes by suggesting alternatives like Ally Bank, Marcus by Goldman Sachs, and Discover Bank, which might offer better rates or fewer fees, providing readers with options to consider based on their banking needs.

Read the Full Insider Article at:
[ https://www.msn.com/en-us/money/personalfinance/bmo-savings-rates-pros-cons-and-alternatives/ar-AA1uNOFy ]