BMO is offering a $400 cash bonus* when you open a new personal checking account and set up direct deposit. If you can route $4,000 in qualifying direct deposits over 90 days, that’s $400 in your pocket – and depending on the account you choose, no monthly fee and no minimum balance to maintain.
Bank account bonuses are one of the most straightforward ways to earn extra cash, and BMO’s current offer is easier to hit than most. Open a BMO Smart Money Checking, BMO Smart Advantage Checking, or BMO Relationship Checking account by September 8, 2026, and you can earn $400* just by redirecting your direct deposit.
The requirement is $4,000 in cumulative qualifying direct deposits within 90 days of opening. That sounds like a lot, but cumulative is the key word. You don’t need a single $4,000 deposit. Two months of paychecks from a job paying around $24,000 a year clears that bar. For anyone with a regular employer paycheck or recurring ACH transfer, this is realistic without changing your financial habits much at all.
Here’s how to actually get the $400.
- Open an account before September 8, 2026. You need a minimum of $25 to open, and there’s no ongoing balance requirement after that.
- Update your direct deposit with your employer to route to your new BMO account. Most payroll systems process this in one pay cycle; do it within the first week or two so you have the full 90-day window working for you.
- Track your running total. BMO counts all qualifying direct deposits cumulatively, so a mix of payroll or government benefits can all count toward the $4,000 threshold.
Once you’ve hit it, you’re done. No need to wait out the full 90 days. The friction here is minimal: one form with your HR or payroll department and a temporary redirect of your paycheck. For $400, that’s a straightforward trade. And the account is worth keeping – all three checking options include fee-free transactions at more than 40,000 Allpoint® network ATMs nationwide, plus access to BMO Digital Banking** to pay bills, transfer money, and manage your account from anywhere.
* Conditions apply and other offers may be available. Accounts are subject to approval and are provided in the United States by BMO Bank N.A. Member FDIC
** Message and data rates may apply. Contact your wireless carrier for details.
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