BMO Bank in Utah: Accounts, Credit Cards, and Loans

BMO Bank in Utah: Overview

BMO Bank N.A., commonly known simply as BMO, is the U.S. national bank owned by BMO Financial Corp., a wholly owned subsidiary of Bank of Montreal. The bank operates as part of BMO Financial Group, the broader corporate name used for Bank of Montreal and its subsidiaries and business lines. BMO Bank’s U.S. roots trace back to 1882, when Norman Wait Harris founded N.W. Harris & Co. in Chicago. The business later became Harris Bank and was acquired by Bank of Montreal in 1984, establishing the foundation for BMO’s modern U.S. retail banking operations.

BMO expanded substantially through later acquisitions, including Marshall & Ilsley and Bank of the West, which BMO acquired in 2023. That same year, the bank simplified its consumer-facing brand from BMO Harris Bank to BMO. Today, BMO Bank N.A. is headquartered in Chicago, Illinois, and operates a multistate branch network that includes 5 full-service branches in Utah. Utah residents can also access eligible BMO checking, savings, CDs, credit cards, mortgages, business banking, and digital banking services.

History and Expansion in Utah

BMO’s presence in Utah traces through Bank of the West, which established the branch network that BMO later inherited. Bank of the West’s Utah story initially appeared set to begin in 2000, when its parent, BancWest Corporation, agreed to acquire 68 branches from Zions Bancorporation and First Security Corporation, including 60 in Utah and 8 in Idaho. The branches represented about $2.1 billion in deposits and were being divested as part of the proposed Zions–First Security merger. However, that merger was later terminated, and because the branch sale depended on its completion, the transaction did not close.

Bank of the West ultimately established its Utah presence in 2004 through BancWest’s acquisition of Community First Bankshares, Inc., a Fargo, North Dakota-based holding company whose Community First National Bank operated branches in Utah and 11 other states. BancWest completed the $1.2 billion acquisition on November 1, 2004, and Community First National Bank was subsequently merged into Bank of the West and rebranded. The acquisition gave Bank of the West an established retail banking presence in Utah as part of a broader expansion across the western and midwestern United States.

BMO acquired Bank of the West from BNP Paribas on February 1, 2023, substantially expanding BMO’s presence across the western United States. Bank of the West branches and customer accounts were converted to the BMO brand and systems later that year, bringing its Utah locations into the BMO network. Today, BMO operates 5 full-service branches in Utah in Cottonwood Heights, Layton, Riverton, Salt Lake City, and Sandy.

BMO Products and Services

BMO offers personal, business, and commercial banking through its branches and digital platforms. Its U.S. services include deposit accounts, credit cards, mortgages and home equity products, business banking, commercial lending, and digital banking. Investment and wealth-management services are provided through affiliated BMO businesses.

• Checking, savings, money market accounts, and CDs
• Consumer credit cards
• Mortgages and home equity products
• Online and mobile banking
• Business checking, savings, credit cards, and lending
• SBA, merchant, treasury, and commercial banking services

BMO occasionally offers bonuses and promotional offers for checking accounts, credit cards, and other products. See our BMO Bank Promotions page for current offers.

Checking Accounts

bmo.com | Checking Accounts

BMO offers 3 primary personal checking accounts for U.S. customers. All include access to BMO Digital Banking, debit-card access, and fee-free transactions at BMO and Allpoint ATMs in the United States. The main differences are monthly fees, overdraft treatment, interest eligibility, and relationship benefits.

BMO Smart Advantage Checking

BMO Smart Advantage Checking is the bank’s straightforward everyday checking account with no monthly maintenance fee or minimum balance requirement.

Best for: Customers who want a simple checking account without a monthly maintenance fee.

• Monthly fee: $0
• Minimum balance requirement: $0
• Minimum to open: $25
• Key benefit: No monthly maintenance fee with access to more than 40,000 fee-free BMO and Allpoint ATMs

BMO Smart Money Checking

BMO Smart Money Checking is designed for customers who want everyday checking without overdraft fees.

Best for: Customers who want added protection against overdraft charges.

• Monthly fee: $5, or $0 for customers under age 25
• Minimum balance requirement: $0
• Minimum to open: $25
• Key benefit: $0 overdraft fees

BMO Relationship Checking

BMO Relationship Checking is an interest-bearing checking account that adds more benefits as customers maintain larger qualifying balances with BMO.

Best for: Customers who maintain larger balances and want interest, ATM-fee benefits, and relationship-based perks.

• Monthly fee: $25, with available waiver options
• Minimum balance requirement: $10,000 minimum daily ledger balance or $25,000 monthly combined balance to waive the fee
• Minimum to open: $25
• Key benefit: Earns interest and includes BMO Relationship Package benefits

Savings Accounts

BMO offers a standard savings account and a money market account for customers who want to keep funds accessible while earning interest. Rates can change, so customers should confirm current rates directly with BMO.

BMO Savings Builder

BMO Savings Builder is designed for customers building short- or long-term savings without a monthly maintenance fee.

Best for: Customers who want a straightforward savings account with no monthly fee.

• Monthly fee: $0
• Minimum balance requirement: $0
• Minimum to open: $25
• Key benefit: No monthly maintenance fee, with access to BMO savings goals, automatic transfers, and digital banking tools

BMO Growth Money Market

BMO Growth Money Market is designed for customers who want flexible access to savings while earning interest based on their balance and relationship with BMO.

Best for: Customers who maintain larger savings balances and want money market access without locking funds into a CD.

• Monthly fee: $10, waived with a $5,000 minimum daily balance
• Minimum balance requirement: $5,000 minimum daily balance to waive the monthly fee
• Minimum to open: $25
• Key benefit: Tiered interest with the potential for higher earnings when paired with qualifying BMO Relationship Checking activity

Certificates of Deposit (CDs)

BMO offers certificates of deposit for customers who want to earn a fixed return over a set term. CDs generally require customers to leave funds on deposit until maturity, and early withdrawals may be subject to penalties. Rates and available terms can change, so customers should confirm current options directly with BMO.

BMO CDs

BMO CDs provide fixed-term savings options for customers who do not need immediate access to their deposited funds.

Best for: Customers who want predictable earnings and can keep their money deposited for a defined term.

• Available terms: Multiple terms, generally ranging from 3 months to 5 years
• Minimum to open: $1,000
• Monthly fee: $0
• Key benefit: Fixed earnings for the selected term

BMO IRA CDs

BMO IRA CDs allow eligible customers to hold a certificate of deposit within a retirement account.

Best for: Customers who want fixed-term savings inside a Traditional, Roth, or SEP IRA.

• Account type: Traditional, Roth, or SEP IRA
• Minimum to open: $1,000
• Monthly fee: $0
• Key benefit: Fixed-term savings within a tax-advantaged retirement account

Customers should confirm current terms, renewal rules, grace periods, and early-withdrawal penalties directly with BMO before opening a CD.

BMO Credit Cards

bmo.com | Credit Cards

BMO currently offers several consumer credit cards in the United States, including cash-back, points-based rewards, travel-oriented, low-interest, and secured options. Annual fees and rewards vary by card. Existing BMO customers can apply for eligible cards online, while customers who do not already bank with BMO are directed to a BMO financial center to apply. Temporary welcome bonuses and promotional APRs are not included below.

BMO Cash Back Credit Card

BMO Cash Back Credit Card earns cash back on eligible everyday purchases.

Best for: Customers who want a straightforward cash-back card with no annual fee.

• Annual fee: $0
• Rewards: Cash back on eligible purchases, with higher earning categories for gas, EV charging, and groceries
• Welcome offer: Not included
• Other perks: Cell phone protection, extended warranty, and eligible Mastercard benefits

BMO Platinum Credit Card

BMO Platinum Credit Card is a non-rewards card designed for customers who prioritize financing features over ongoing rewards.

Best for: Customers who do not need rewards and prefer a basic credit card with no annual fee.

• Annual fee: $0
• Rewards: None
• Welcome offer: None
• Key benefit: Straightforward non-rewards credit card structure

BMO Platinum Rewards Credit Card

BMO Platinum Rewards Credit Card earns BMO Flex Rewards points on eligible purchases.

Best for: Customers who want a points-based rewards card without an annual fee.

• Annual fee: $0
• Rewards: 2 points per $1 on eligible gas, EV charging, and grocery purchases up to the applicable quarterly limit, then 1 point per $1
• Welcome offer: Not included
• Other perks: Cell phone protection, extended warranty, and roadside assistance

BMO Premium Rewards Credit Card

BMO Premium Rewards Credit Card offers elevated BMO Flex Rewards earnings across several everyday and travel categories.

Best for: Customers who spend regularly on gas, groceries, dining, hotels, and airfare and can benefit from the higher rewards structure.

• Annual fee: $95
• Rewards: 4 points per $1 on eligible gas, EV charging, groceries, and dining; 2 points per $1 on eligible hotels and airfare; 1 point per $1 on other eligible purchases, subject to applicable quarterly limits
• Welcome offer: Not included
• Other perks: No foreign transaction fees, cell phone protection, and a 10% anniversary points bonus

BMO Escape Credit Card

BMO Escape Credit Card is BMO’s travel-focused rewards card, with elevated points on several travel and dining categories.

Best for: Customers who travel frequently and can make use of higher rewards and travel-related benefits.

• Annual fee: $150
• Rewards: Elevated points on eligible airfare, hotels, dining, travel agencies, cruises, rideshare, taxis, and rental cars, with 1 point per $1 on other eligible purchases
• Welcome offer: Not included
• Other perks: Travel-related benefits and enhanced redemption value through BMO Flex Rewards

BMO Boost Secured Credit Card

BMO Boost Secured Credit Card requires a deposit account to secure the credit line and is designed for customers building or rebuilding credit.

Best for: Customers who want to establish or strengthen their credit history with a secured card.

• Annual fee: $25
• Rewards: None
• Security requirement: A savings deposit secures the credit limit
• Key benefit: Provides a secured credit-card option for customers working on their credit history

Loans

BMO does not currently prominently market a broad lineup of new unsecured personal loans or direct auto loans through its main U.S. consumer banking pages. Customers looking for personal, vehicle, recreational vehicle, marine, or other non-mortgage financing should contact BMO directly to confirm current availability and eligibility.

Mortgages and Home Loans

BMO offers mortgage and home-equity financing for eligible borrowers, including customers in Utah. Its lineup includes fixed- and adjustable-rate mortgages, government-backed and low-down-payment programs, jumbo loans, construction financing, and home-equity products.

Mortgages

BMO provides multiple mortgage options for home purchases and refinancing.

• Options: Fixed-rate, adjustable-rate, FHA, VA, jumbo, and construction loans
• Utah availability: Available to eligible borrowers

BMO Home Equity Line of Credit

A BMO HELOC provides revolving access to available home equity.

• Structure: Revolving line of credit
• Key benefit: Borrow as needed during the draw period

BMO Home Equity Loan

BMO Home Equity Loan provides a lump-sum loan secured by home equity.

• Structure: Fixed-term loan
• Key benefit: Predictable payments on a defined borrowing amount

Business Checking Accounts

bmo.com | Business Checking Accounts

BMO offers 4 primary business checking accounts for companies ranging from sole proprietors and small businesses to organizations with higher transaction volumes. The accounts include BMO Digital Banking and access to BMO and Allpoint ATMs in the United States.

BMO Simple Business Checking

BMO Simple Business Checking is designed for smaller businesses with relatively light transaction and cash-deposit activity.

• Monthly fee: $10, waived with a $100 average collected balance
• Included activity: Up to 100 transactions and $2,000 in cash deposits per statement period

BMO Digital Business Checking

BMO Digital Business Checking is designed for businesses that handle much of their banking electronically.

• Monthly fee: $10, waived with a $500 average collected balance
• Key benefit: Unlimited free incoming ACH transactions and incoming wire payments

BMO Premium Business Checking

BMO Premium Business Checking is designed for growing businesses that need more transaction and cash-deposit capacity.

• Monthly fee: $15, waived with a $1,500 average collected balance
• Included activity: Up to 200 transactions and $5,000 in cash deposits per statement period

BMO Elite Business Checking

BMO Elite Business Checking is an interest-bearing account for businesses with higher balances and transaction volumes.

• Monthly fee: $25, with available balance-based waiver options
• Included activity: Up to 500 transactions and $20,000 in cash deposits per statement period

BMO also offers business savings and money market accounts, business credit cards, lending, merchant services, treasury management, ACH and wire services, and commercial banking.

Conclusion

BMO Bank N.A. is the U.S. national bank operating under the BMO brand and ultimately owned by Bank of Montreal through BMO Financial Corp. Its U.S. history is rooted in Chicago and was shaped by major acquisitions including Harris Bank, Marshall & Ilsley, and Bank of the West. BMO’s Utah presence came through Bank of the West, giving the bank a physical branch network along the Wasatch Front.

Today, BMO offers Utah customers checking and savings accounts, money market accounts, CDs, credit cards, mortgages, home equity products, business banking, and digital banking services. The bank operates 5 full-service branches in Utah in Cottonwood Heights, Layton, Riverton, Salt Lake City, and Sandy, while eligible customers can also access many BMO products online.

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Disclaimer:
This page is not affiliated with, maintained by, or sponsored by BMO Bank. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of BMO Financial Corporation.