BMO
BMO Smart Advantage Checking $400 Bonus
BMO pays you $400 when you open a Smart Advantage Checking account and receive $4,000 in qualifying direct deposits within 90 days. No monthly fee with paperless statements. Soft credit pull. Available in 14 states, including California, Florida, Illinois, and Arizona. Keep the account open at least 90 days to avoid a $50 early closing fee.
- Bonus amount
- $400
- Expires
- Sep 8, 2026
- Time to complete
- ~90 days
- Bonus deposited in
- ~100 days
- Difficulty
- Medium
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Requirements
Last verified: Aug 22, 2026
Open an account
Open your new account using the offer link before the offer expires.
Set up direct deposit
Receive qualifying direct deposits totaling $4,000 within 90 days of account opening.
Per BMO’s terms, the cash bonus is paid around 100 days after account opening (roughly 10 business days after the 90‑day deposit period).
Account Details
- Paperless statements enabled
Must remain open for at least 90 days.
Eligibility
Cannot have an existing BMO checking account.
- Must reside in AZ, CA, CO, FL, IA, IL, IN, MN, NM, NV, OR, UT, WA, or WI at the time of application. Proof of address may be required.
Tips & Gotchas
- →Apply online through the offer page and BMO applies the promo code automatically. Applying in a branch or by phone requires requesting a code first.
- →You must live in one of the 14 eligible states when you apply. Proof of address may be required.
Direct Deposit Data Points 153
153 community reports across 17 transfer sources, showing what triggers a qualifying direct deposit at BMO.
Can You Earn This Bonus Again?
Fine Print
Normal 1099-INT reporting applies.
Taxable income · Reported on 1099-INT
Related Articles
What Counts as a Direct Deposit for BMO Bonuses?
On paper, BMO counts only paychecks, pension payments, and government benefits as qualifying direct deposits. Based on 273 community data points with zero conclusive failures, BMO is one of the most flexible banks in our dataset in practice. Employer payroll, Chase Business payroll, Fidelity "someone else" EFTs, TreasuryDirect, and Relay pushes all have clean track records.
What is a direct deposit?
An electronic payment sent directly into your bank account, usually from an employer or government.
Does Zelle Count as Direct Deposit for Bank Bonuses?
Usually no. At most banks a Zelle payment arrives coded as peer-to-peer and will not trigger the bonus. Citi is the clear exception. Its Enhanced Direct Deposit terms name Zelle as a qualifying deposit, and every Zelle report we have from Citi got paid.
Also see: this month's best bank bonuses and community DD data points.
We may earn a commission if you open an account through the link above. This doesn't affect our recommendations. See how we make money