BMO Alto Bank Review 2024
Updated January 23, 2024
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At a glance
4.0
Bankrate Score
• No Min Balance
• 24/7 Customer Service
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Overall
BMO Alto’s online high-yield savings account and CDs made their debut in 2023.
BMO Alto offers competitive yields and nationwide availability – even if you have a BMO branch near you. There are no monthly service fees and no minimum balance requirements, so the accounts are very accessible for all types of savers.
If you’re someone who relies on mobile check deposit, the savings account doesn’t currently offer that feature. So you’d need to deposit a check into another account and transfer that money over to your BMO Alto Online Savings Account.
Ưu điểm
• Phí hàng tháng và yêu cầu số dư tối thiểu không tồn tại.
• Chuyển khoản và rút tiền không giới hạn được cho phép.
Nhược điểm
• Tiền gửi séc di động không phải là một lựa chọn và cũng không có quyền truy cập ATM.
BMO Alto banking products
4.7 / 5
See methodology
APY offering:
5.10%
5/5
Monthly service fee:
$0.00
5/5
Access to funds:
subpar
5/5
Minimum balance to earn interest:
$0.00
5/5
Minimum balance to avoid fee:
$0.00
5/5
Overall
The BMO Alto Savings Account offers a competitive yield. There’s no minimum opening deposit requirement and the account has no fees, according to the bank.
BMO Alto doesn’t offer mobile check deposit. The savings account also doesn’t come with ATM access or a debit card at this time.
While the BMO Alto Savings Account doesn’t have a minimum opening deposit requirement, you must make a deposit within 90 days of your account opening date.
Customers can see their balances on the Alto website, but don’t currently have access to an app to manage their accounts.
Ưu điểm
• Phí hàng tháng và yêu cầu số dư tối thiểu không tồn tại.
• Chuyển khoản và rút tiền không giới hạn được cho phép.
Nhược điểm
• Tiền gửi séc di động không phải là một lựa chọn và cũng không có quyền truy cập ATM.
Bank fees
Fee
Charged?
Overdraft fee
None
Non-sufficient funds fee
None
Account maintenance fees
None
Out-of-network ATM fee
N/A
Excessive transaction fee
None
Customer experience
BMO Alto offers 24/7 customer service. BMO Alto doesn’t currently have an app available for download. You also won’t be able to go into a BMO branch for withdrawals or help with your BMO Alto account. BMO Alto doesn’t offer mobile check deposit or ATM access. You’ll need to deposit a check into another account and then transfer it to BMO Alto or transfer existing funds at another bank to BMO Alto if you’re looking to move funds to your BMO Alto Savings Account.