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BMO Smart Saver Account Info & Reviews

Financial Products > Savings Accounts > BMO Smart Saver Account
Detailed information, reviews and ratings for the BMO Smart Saver Account.
Useful when comparison shopping for a new canadian savings account.

Information about the BMO Smart Saver Account

Product NameBMO Smart Saver Account
Available InCanada (All Provinces)
Offered ByBank of Montreal
Product PageBMO Smart Saver Account
Interest Rate0 - $4 999.99: 0.05 %  Interest Rate Decreased from 0.1 % to 0.05 % on April 9, 2020
$5 000.00 and Up: 0.05 %  Interest Rate Decreased from 0.1 % to 0.05 % on April 9, 2020


Chart of historical values for the BMO Smart Saver Account 2nd Tier
  • 1 Year
  • 3 Years
  • 5 Years
  • 10 Years
  • All Data
Minimum Balance$5000
Withdrawal Fee$5.00 (1 free/month)
Other FeesCash Withdrawal: $5.00 per withdrawal
Funds Transfer: $5.00 per transfer (1 free per month)
Account closed (within 90 days of opening): $20.00
Dormant account:
2 years: $20.00
5 years: $30.00
10 years: $40.00
Fund TransfersABM Cash Withdrawal
Branch Cash Withdrawal
Online and Telephone Banking Transfers
Deposit InsuranceCDIC
Additional NotesThis account has tiered interest rates.
When the total account balance is $5000 or higher, the interest rate for that tier applies to the entier bank account balance (not only to amounts over $5000).
Please Note: This database is intended to help you explore your options when looking for a financial product. Product features and information can change faster than we can update our database and we cannot guarantee the accuracy of the information in the above table.
Always visit the financial institutions product page and carefully review the information there before making a final decision.

Customer Ratings for the BMO Smart Saver Account

Overall:1.06
Customer Service:1.25
Cost/Rates/Value:1
Convenience:1
Features:1

Reviews and Comments for the BMO Smart Saver Account

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 Reviews & Comments about the BMO Smart Saver Account
Loyal BMO Customer for 35 Years on March 3, 2015Overall Rating: 1
The interest rate reduction to .08% - and without any advance warning - is the final nail in BMO's coffin. This bank does not deserve my loyalty or business. We are gone.
Cost/Rates/Value: 1  
KEN FORD 8032 391 on October 12, 2014Overall Rating: 1
Moved my BMO Investments on line to my Smart Savings 2 days ago - yet nothing has appeared. No customer service, no help from mgmt.?
Customer Service: 1  
Jim on November 26, 2013Overall Rating: 1.33
Terrible special savings rate at BMO. Almost doubled my interest rate when I switched over to another financial institution. BMO is also brutal on GIC rates.
Customer Service: 2  Cost/Rates/Value: 1  Convenience: 1  
Brian on July 20, 2013Overall Rating: 1
Not competitive at all - closed my account and placed the funds elsewhere.
Cost/Rates/Value: 1  Features: 1  
Bobby on April 3, 2013Overall Rating: 1
It sucked ***
Customer Service: 1  Cost/Rates/Value: 1  Convenience: 1  Features: 1  
Johnny on April 3, 2013Overall Rating: 1
It's terrible!
Customer Service: 1  Cost/Rates/Value: 1  Convenience: 1  Features: 1  

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