Can one $6,000 deposit earn the whole $600?
No. BMO’s checking offer describes up to six $100 monthly payments. Beginning with the calendar month after opening, at least $1,000 in qualifying direct deposits must post in each tracking month to earn that month’s payment. A single larger deposit does not replace six separate monthly targets. The headline is a maximum, not an opening-day payment. BMO’s official checking promotion ↗
The checking reward is separate from a possible $60 in Savings Builder rewards. Do not add the savings reward to the checking bonus unless you also meet that account’s separate growth rules.
Who can use this promotion?
For this issuer-page offer, the primary applicant must live in Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Minnesota, New Mexico, Nevada, Oregon, Utah, Washington or Wisconsin when applying. BMO may ask for proof of address. Existing BMO personal checking clients, including trustees, signers and joint owners, and people who closed a BMO personal checking account in the preceding 12 months are excluded. The offer is limited to one per client and account, including joint owners. Check your own history with BMO before moving payroll. BMO’s official checking promotion ↗
Opening dates on the reviewed page run from September 9 through December 15, 2026. The promotion must be attached: BMO says opening from its online offer page automatically applies the code; phone or financial-center applicants need the code from that page. Online applications on December 15 must be submitted and approved before 9 p.m. Central Time. Account approval is still BMO’s decision.
What does the six-month clock mean?
Tracking starts on the first day of the calendar month after opening. BMO pays $100 for a tracking month only when cumulative qualifying direct deposits of at least $1,000 post during that month. Its terms allow a later month to pay after an earlier miss; the original six-month series does not get longer. Each earned payment is deposited approximately ten days after the start of the following month. BMO’s official checking promotion ↗
Worked example: an account opened in November starts tracking December 1. If qualifying December deposits total $1,000, January totals $900, and February totals $1,000, the first three months earn $100, $0 and $100. Even if March through May qualify, the possible checking total is $500, because January’s $100 is lost. This is a deposit-amount example; BMO must decide whether each payment source qualifies.
What deposits count—and what should you exclude?
BMO describes regular income from an employer or similar third party, such as pay, pension, Social Security or other government benefits sent electronically to the account. It explicitly excludes teller and ATM deposits, wires, transfers from another bank or brokerage account, BMO Digital Banking transfers, person-to-person transfers, debit-card or real-time credits, and merchant-platform payments. A transfer’s ACH label alone does not make it qualifying payroll. BMO can ask for a pay stub or earnings statement. BMO’s official checking promotion ↗
Plan against posted deposits, not merely the date your employer says it sent them. If the monthly threshold is uncertain, ask BMO to review the transaction’s actual source before counting the $100 as earned.
A practical sequence before opening
- Confirm that the primary applicant lives in an eligible state, the account-history exclusions do not apply, and the offer page still states the same terms.
- Choose one of the three named checking products and start from BMO’s promotion page. Save the promotion/code and approved opening confirmation privately.
- Arrange eligible income to reach at least $1,000 in each of the six tracking calendar months. Keep a list of the expected posting dates.
- After each month, compare your posted deposits with BMO’s definition. Check for that month’s $100 payment after the start of the next month.
- Keep the account open, in good standing and above zero through each expected payment. If a payment is missing, ask the bank which requirement it found unmet.
For a phone or financial-center opening, obtain the promo code through BMO’s page before applying. The bank’s application and offer agreement control any difference from this checklist.
What fees and payout conditions matter?
BMO lists a $25 minimum opening deposit for the personal checking products. Smart Advantage lists no monthly maintenance fee; Smart Money lists $5 per month, waived for customers under 25; Relationship Checking lists $25 per month with waiver options. Other charges and waiver conditions vary by account. Check the current product disclosure for the exact account you choose before treating the gross $600 as your net gain. BMO’s official checking promotion ↗
The account must be open, in good standing, have a balance above zero and still be one of the eligible checking products when each payment is made. BMO says it may close a zero-balance account. Bonuses may be reported for tax purposes. Estimate value after possible fees ↗
Common questions
Do the deposits need to be $1,000 each?
No. BMO describes a cumulative $1,000 or more in qualifying direct deposits posted during each month. More than one eligible payment can reach that month’s total. Its source rule still applies to every payment.
Does a missed month cancel later months?
No. A later tracking month can earn $100 when it qualifies. The missed month itself is not paid, and the six-month window is not extended.
Can joint owners each get the bonus?
The reviewed promotion limits the offer to one per client and account, including joint owners. It also applies its existing-client exclusion to joint owners and uses the primary applicant’s state of residence. Do not assume two bonuses on one account.
Review the issuer source before applying
BMO’s official checking promotion ↗ is the controlling source for the $100 monthly reward, eligibility, deposit exclusions, dates and payout. This guide was manually checked on September 15, 2026; the scanner’s latest BMO attempt timed out while reading the offer page, after its robots check succeeded. We will not place this promotion in the active shortlist until the publication source gate is resolved. Read our editorial method and active reviewed bank offers.