Does BMO Harris Use ChexSystems?

BMO Harris Bank now goes by BMO in the United States. The shorter name does not change how the bank reviews checking account applications, and past deposit account problems may still affect approval.

BMO offers three main checking accounts. Smart Money Checking stands out because it blocks overdraft fees and keeps its monthly cost low, but the account does not guarantee approval after serious banking problems.

BMO May Check Your ChexSystems Consumer Report

BMO uses ChexSystems as part of its account review. The bank tells customers with declined applications to review their ChexSystems consumer report, dispute errors, and pay unresolved fees.

Negative records may include unpaid balances, involuntary account closures, returned payments, or suspected fraud. BMO does not publish a rule that explains which entries always cause a denial.

The details matter. An old balance with a paid status may present less risk than recent fraud or money that remains owed to another financial institution.

Smart Money Checking Offers Overdraft Protection

BMO Smart Money Checking has no overdraft fees. BMO generally declines transactions when the account does not have enough available money to cover them.

The account costs $5 per month. BMO waives that fee when an account owner is younger than 25. Customers can also use more than 40,000 BMO and Allpoint ATMs without a BMO transaction fee.

Smart Money Checking includes:

• Debit card access: Make purchases and withdraw cash from the account.
• Digital banking: Pay bills, transfer funds, and review account activity online or through the BMO app.
• ATM access: Use more than 40,000 BMO and Allpoint ATMs without a BMO withdrawal fee.
• No overdraft charges: BMO does not assess overdraft fees on this account.
• Low monthly cost: Pay $5 per month unless the age-based waiver applies.

Paper statements cost $2 unless an eligible account owner is at least 65. Electronic statements are free.

Smart Money Checking Is Not Guaranteed Second Chance Checking

Smart Money Checking has features that can help prevent another unpaid overdraft. BMO also notes that the account has Bank On certification as a low-cost transaction account.

However, BMO does not state that it skips ChexSystems or accepts every applicant with a negative banking record. The account rules protect customers from overdraft fees after approval. They do not remove the initial account review.

Someone with an older resolved problem may still qualify. Recent fraud, unpaid bank debt, or several forced closures may make approval more difficult.

Smart Advantage Checking Has No Monthly Fee

BMO Smart Advantage Checking is the bank’s standard no-fee option. It has no monthly maintenance fee or minimum balance requirement.

The account can cost less than Smart Money Checking, but it does not have the same overdraft protections. BMO may pay certain checks, automatic bill payments, and other transactions that exceed the available balance. Overdraft fees may then apply.

Smart Advantage Checking may fit someone who:

• Tracks the available balance closely
• Wants no monthly maintenance fee
• Needs a standard checking account
• Prefers optional overdraft services
• Qualifies under BMO’s regular account rules

Smart Money Checking may be safer when overdraft prevention matters more than avoiding a $5 monthly fee.

Relationship Checking Is Built for Higher Balances

BMO Relationship Checking earns interest and adds more benefits as the customer’s total relationship with BMO grows. The account normally charges a $25 monthly maintenance fee, although qualifying relationship balances can reduce or remove it.

This account is aimed at customers who keep more money with BMO and want added banking benefits. It is not a better option for someone whose main concern is a negative ChexSystems consumer report.

For most applicants, the meaningful comparison is between Smart Advantage Checking and Smart Money Checking.

What to Review After a BMO Denial

BMO recommends checking your ChexSystems consumer report after a declined application. Look for balances that are wrong, accounts you do not recognize, and debts that still appear unpaid after you resolved them.

You should also check:

• Closure details: Confirm that the former financial institution reported the reason correctly.
• Account dates: Make sure an older issue does not appear more recent.
• Duplicate entries: The same account should not appear more than once.
• Fraud information: Dispute fraud records that resulted from identity theft.
• Payment status: Ask the former bank to update a valid balance after payment.

ChexSystems provides a consumer portal for requesting your file and submitting disputes. Its consumer phone number is 800-428-9623.

Paying an accurate balance does not usually erase the record immediately. Still, the updated status shows that the debt has been resolved.

Is BMO Worth Applying To?

BMO may be worth considering when your past banking problem is old, paid, or relatively minor. Smart Money Checking has no overdraft fees, while Smart Advantage Checking has no monthly maintenance fee.

The drawback is that BMO reviews ChexSystems and does not promise approval through a separate second chance application process.

Smart Money Checking offers the better setup for someone who wants firm spending limits after approval. A bank that does not use ChexSystems may be a better choice when recent fraud or unresolved bank debt remains.

Banks That Don’t Rely on ChexSystems

If ChexSystems is keeping you from opening an account at BMO Harris, there are other banks that can help you move forward. These options focus on accessibility, quick approval, and modern online banking features to make managing your money easier.

Learn More

• Banks That Don’t Use ChexSystems – Take the first step to rebuilding your banking history with our list of banks that do not use ChexSystems for account approval.
• Credit Unions That Don’t Use ChexSystems – Find a credit union that will work with you, not against you. Learn about the credit unions that don’t use ChexSystems.
• Am I in ChexSystems? – Unsure if you’re in ChexSystems? Learn how to find out and take control of your financial status.
• How to Get Out of ChexSystems – Learn how to get out of ChexSystems in four simple steps.
• Second Chance Checking Accounts – Take control of your financial future with our list of over 450 banks that offer second chance checking accounts.