BMO Smart Advantage Checking Bonus: How the $600 Works, Month by Month

BMO's Smart Advantage Checking bonus pays $100 for each of up to six months in which at least $1,000 in qualifying direct deposits posts to your account, for a maximum of $600. It isn't one lump sum. You earn it a month at a time, and a month you miss is a $100 you don't get. The offer is open to new personal checking customers in 14 states, and you have to open the account between September 9 and December 15, 2026.

This guide walks through how the months are counted, what BMO says counts as a direct deposit, and what to plan for. The free Direct Deposit Planner can help you line up the paychecks.

The offer at a glance

The details are on the BMO Smart Advantage Checking offer page.

How the months work

BMO starts counting on the first calendar day of the month after you open the account. So the month you open it doesn't count. Each tracked month where $1,000 or more in qualifying direct deposits posts earns $100, paid about 10 days after the start of the next month. The last $100 can be earned six months after counting begins.

BMO's own example: open the account in November, so counting begins December 1.

• December: $1,000 in qualifying direct deposits, so the first $100 is paid in January.
• January: $900, so no second $100 in February.
• February: $1,000, so the third $100 is paid in March.

A missed month doesn't disqualify you from later months, but BMO's terms don't describe a way to make it up. Plan for all six.

Opening in November means the first bonus lands around January 10 and the last around June 10. Opening on the last day, December 15, pushes the schedule about a month and a half later, so the last payment would arrive in July.

Who can get it

• The primary applicant, the first person listed, must live in Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Minnesota, New Mexico, Nevada, Oregon, Utah, Washington or Wisconsin when you apply. BMO may ask for proof of address.
• You can't be an existing BMO personal checking client or have closed a BMO personal checking account in the past 12 months.
• It's one checking bonus offer per person. BMO says you can't open several accounts and get several bonuses. The promo code attaches to the first Smart Money, Smart Advantage or Relationship Checking account you open in the offer period.

Check the 12-month rule first if you've banked with BMO before.

The promo code and how to open

The promo code is required, but how you get it depends on how you open:

• Online: BMO's page says to go to the offer page and select "OPEN IN MINUTES" for the account, and it applies the promo code automatically.
• At a branch or by phone: enter your information on the offer page and select "SEND MY PROMO CODE." Then give the code when you open the account.

Don't open the account from a different page. That's the easiest way to miss the code.

What counts as a direct deposit

BMO counts regular income from an employer or similar third party, such as a salary, paycheck, pension, Social Security payment or other government benefit, deposited electronically into the account.

It does not count:

• digital banking transfers or deposits,
• deposits processed as a debit card credit or a real-time credit,
• transfers from any bank or brokerage account, or
• account-to-account and person-to-person payments, such as Zelle.

BMO also says it can ask for a pay stub or statement of earnings to show that a deposit qualifies. Keep those on hand. For more on this, see what counts as a direct deposit.

The requirement is a cumulative total of $1,000 or more in the month, so two smaller paychecks that add up to $1,000 can work. Leave a buffer for a paycheck that lands near the end of the month, in case it posts in the next one.

Is it worth it?

Six months of $1,000 means at least $6,000 in direct deposits for $600, which is 10% of the deposits. Most people don't have to move any money. If a paycheck or pension already totals $1,000 a month or more, you can send it to BMO.

The catch is what that does to your other bonuses. A direct deposit can only go to one place, so if you're also working on another direct deposit bonus, you'll have to split pay or do them one after the other. Many other bonuses pay a lump sum for a shorter commitment; the payout times guide shows how others compare.

This one is a fit if you want a steady payoff and don't mind waiting up to seven months for the last $100.

What you need to keep in place

For each $100 to be paid, BMO says the account must:

• be open and in good standing,
• have a balance above zero, and
• still be a Smart Money, Smart Advantage or Relationship Checking account.

BMO also says that if the balance is zero it may close the account. Keep a small balance in it for the whole six months.

BMO's terms don't give a minimum time to keep the account open after the last bonus, but the closing rules differ by bank and change. See when you can close a bank account after the bonus.

Fees and taxes

Our catalog records a $0 monthly fee for Smart Advantage Checking, checked on September 25. BMO's account terms have other fees, such as for overdrafts, so read them before you open.

BMO says the bonuses may be reported to the IRS, and that you're responsible for any taxes. See whether bank bonuses are taxable.

A simple plan

1. Check you qualify: the right state and no BMO personal checking in the past 12 months.
2. Choose how to open: online from BMO's offer page, or get the promo code and go to a branch.
3. Open the account before December 15 and keep the code from your confirmation.
4. Point a paycheck or pension at it, starting the month after you open, with at least $1,000 a month.
5. Make a calendar with all six months and the pay dates, so none of them slips. The Bonus Deadline Calculator can help.
6. Keep a balance above zero until the last $100 posts.

FAQ

How much is the BMO Smart Advantage bonus? $100 a month for each month, up to six, in which $1,000 or more in qualifying direct deposits posts. The most you can get is $600.

When does counting start? The first day of the month after you open the account. The month you open doesn't count.

When is each $100 paid? About 10 days after the start of the next month.

What if I miss a month? You don't get that month's $100, but you aren't disqualified from later months.

Does Zelle count as a direct deposit? No. Zelle and other person-to-person payments are excluded, along with transfers from other banks and brokerages.

Can I open it online? Yes. BMO's offer page says "OPEN IN MINUTES" applies the promo code automatically. You can also open at a branch or by phone with the code.

Which states? Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Minnesota, New Mexico, Nevada, Oregon, Utah, Washington and Wisconsin.

Can I get it if I had a BMO account before? Not if you're a current BMO personal checking client or closed one in the past 12 months.

When does the offer end? You have to open the account by December 15, 2026. BMO can change or cancel the offer at any time.

Sources

• BMO, personal checking account cash bonus offer page and terms: https://www.bmo.com/en-us/main/personal/checking-accounts/digital-offer/
• The offer's terms as shown on its SuperChurn page (checked September 25, 2026 and against BMO's page on October 30, 2026).

SuperChurn isn't owned by or endorsed by BMO or any bank. This is general information, not financial or tax advice. Offers change, so confirm the current terms with the bank before you open an account.