MyBankTracker rated BMO Harris Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
I had an auto loan through BMO when I bought my new car from the dealarship. The frist month I wanted to pay extra on the principal so I paid $100 more than the payment. When I looked later they didn't apply the extra to the principal but to the next payment (so they get more interest). I called and complained and they fixed it and said I would have to send in 2 checks, 1 for the regular payment and another for the extra with a letter asking for the additional to be applied directly to the principal.
I did this and sure enough, they applied it to the next payment again. This went on for 4 months before I said enough is enough and refinanced through my local bank. Now BMO wont send my local bank the letter of termination for the loan I had through them and it has been almost 2 months. We are still waiting for the letter so I can get a refund on the GAP insurance I bought through the dealarship and so my local bank can finish paperwork and send the title to the Secratary of State Office.
Long story Short: This bank is absolutely horrible at doing the basic requirements and fulfilling their obligations. I would not go through this bank unless you have no other options.
I switched banks because they had a promotion of 150-200 if you had direct deposit with bmo for at least 3 months. It has been 5 months and am still fighting to get my promotional check into my account. I have talked to a violeta in the berwyn location like 5 times and they keep giving me the run around about this money. They keep saying that it will be into my account and is never true. Also large checks clearing takes forever and ever. I do not recommend anyone to this bank. I will go back to pnc for sure.
This bank is not for the little people. My husband used to be able to get cash from his payroll deposit as his paycheck was drawn on Harris bank. Now he must wait until the next day, even though the check is drawn on their bank.
We have enjoyed being able to use our debit card at many different local gas stations without cost. BMO has started charging for those withdrawals. In fact, the afore mentioned gas stations now are using another bank for their ATMs.
If a process happens and it could go either way, the bank always wins whether they are correct or not. If an account is low on funds, this bank will take the largest credit first so they can charge for any overage.