BMO determines checking bonus eligibility from four tests: new-customer status, eligible account and opening window, home state, and monthly direct deposits. You receive $100 for each month you pass all four tests, up to $600 across six consecutive months. A qualifying direct deposit is an electronic paycheck or benefit payment sent by an employer or government payer to your BMO routing number.
BMO offers the current promotion for new Smart Money, Smart Advantage or Relationship Checking accounts opened Sept. 9-Dec. 15, 2026, with $1,000 or more in such deposits each month, according to the current BMO offer page.
Table of Contents
- Which accounts and opening dates qualify?
- Who counts as a new customer?
- What counts as a qualifying direct deposit?
- State, payout and tax rules
Which accounts and opening dates qualify?
The promotion covers Smart Money, Smart Advantage and Relationship Checking. Your application date must fall inside the Sept. 9-Dec.
15, 2026 window. An account opened before or after those dates does not qualify. Check these basics before you apply: Each monthly $100 stands alone. You earn it only for months when the deposit and account rules are both met.
- New personal checking relationship, not an added account for an existing checking client
- Smart Money, Smart Advantage or Relationship Checking
- Opening date between Sept. 9 and Dec. 15, 2026
- Ability to receive $1,000 or more in qualifying direct deposits each month
Who counts as a new customer?
Only new BMO personal checking clients can earn the bonus. Existing checking clients are excluded, including trustees, signers and joint owners on a current account. A recent closure also blocks eligibility.
Customers who closed a BMO personal checking account within the prior 12 months cannot requalify by opening again. The limit is one bonus per customer and per account. Opening two new accounts, or adding a joint owner, trustee or signer, does not create a second bonus.
What counts as a qualifying direct deposit?
A qualifying deposit is an electronic salary, paycheck, pension, Social Security or other government benefit sent by an employer or third party. It must use BMO's routing number, and BMO states in its Bank at Work offer terms that it may ask for a pay stub to confirm the source.
Many electronic transfers do not count, even when they look like deposits. Do not rely on these to reach $1,000: Set up a true employer or benefits direct deposit. Split deposits from two jobs can help, but manual moves from savings or payment apps will not satisfy the rule.
- Teller, wire, ATM or internal BMO Digital Banking transfers
- Account-to-account, brokerage or debit-card credit transfers
- Zelle, Venmo and Square-type merchant-platform transfers
State, payout and tax rules
The primary applicant must live in Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Minnesota, New Mexico, Nevada, Oregon, Utah, Washington or Wisconsin at application. According to Miles and Points Guru's September rundown, each $100 is paid about 10 days after the next month. Payment also requires the account to remain open and in good standing.
The balance must stay above zero through payout time. Cash bonuses may be reported to the IRS as income. The recipient owes applicable taxes, which makes the after-tax value lower than $600 for a full six-month payout.
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