BMO Harris Bank Commercial: Everything You Need to Know

If you’re looking for a commercial bank to provide you with financial services, then look no further than BMO Harris Bank. This trusted and reliable institution has been serving businesses for years and has built a reputation for its expertise in commercial banking.

BMO Harris Bank Commercial: Everything You Need to Know

In this comprehensive guide, we’ll take an in-depth look at BMO Harris Bank Commercial and explore everything you need to know about its services, products, benefits, and more.

Overview of BMO Harris Bank

BMO Harris Bank is a subsidiary of the Canadian multinational company Bank of Montreal (BMO). The bank offers personal, business, and commercial banking services across the United States. Its network comprises over 500 branches and more than 1,600 ATMs throughout eight states – Wisconsin, Illinois, Indiana, Minnesota, Kansas, Missouri, Arizona, and Florida.

The bank was established in Chicago in 1882 as N.W. Harris & Co., a securities firm that provided investment banking services. It later transformed into a full-service community bank until it was acquired by BMO Financial Group in 1984.

Today, BMO Harris Bank is one of the largest banks in the Midwest region and provides various financial solutions to meet the specific needs of individuals and businesses. In particular, it has a range of commercial banking products designed to help businesses grow their operations.

Services Offered by BMO Harris Commercial Banking

As a top-tier commercial bank in the US market, BMO Harris offers several financial solutions that cater to small and large companies alike. Here’s an overview of its main service offerings:

Treasury Services

BMO Harris offers cash management solutions aimed at optimizing your account receivables/payables process while maximizing your liquidity position. These solutions include:

  • Depository Services
  • Payables Management
  • Receivables Management
  • Information Reporting
  • Fraud Prevention

Financing Solutions

BMO Harris offers a variety of financing options to meet the growing capital needs of businesses. These options include:

  • Business Loans (Term Loans, Lines of Credit, and Real Estate Financing)
  • Equipment Finance and Leasing
  • Government Guaranteed Lending
  • Asset-Based Lending

Investment Services

If your business is looking for investment advice and guidance, BMO Harris has an experienced group of financial advisors to help you manage your investment portfolio. Some of the investment services they offer include:

  • Retirement Plan Services
  • Wealth Management
  • Capital Markets

Benefits of BMO Harris Commercial Banking

Business owners often seek out commercial banks that can provide them with more than just basic banking services. In this regard, BMO Harris Bank stands out from its competitors in various ways.

Personalized Approach

BMO Harris takes a personalized approach when it comes to dealing with its clients. The bank understands that each business is unique and has different needs; hence, it develops customized solutions that cater to each client’s specific requirements.

Expertise in Key Industries

BMO Harris has expertise across a wide range of industries such as healthcare, food processing, manufacturing, logistics, and many others. This makes the bank well-positioned to serve businesses operating in these industries with tailored financial products designed to address their unique challenges.

Nationwide Presence

With over 500 branches across eight states, BMO Harris is accessible wherever your business operates within its footprint. It also offers online banking services that enable you to manage your accounts from anywhere at any time.

Competitive Rates and Fees

BMO Harris provides competitive rates on loans and other financial products compared to its competitors in the market. Additionally, it offers low fees on transactions such as wire transfers and ACH payments – which can add up quickly for businesses performing high volumes of these activities.

How to Open a BMO Harris Bank Commercial Account?

Opening a commercial account with BMO Harris Bank is easy and straightforward. You can start the process by visiting any of its branches or applying online. Here are the steps involved:

  1. Visit the BMO Harris website, navigate to the "Business" section, and select "Commercial Banking."
  2. Select "Open a Business Account."
  3. Complete the required information fields in the application form.
  4. Upload necessary documents such as business licenses, proof of ownership, etc.
  5. Review your application and submit it.

After submitting your application, a BMO Harris banker will contact you to confirm your account opening details.

Conclusion

BMO Harris Bank Commercial is an excellent choice for businesses looking for a trusted and reliable commercial bank that can provide them with tailored financial solutions designed to meet their unique needs. With its nationwide presence, competitive rates/fees, expertise in key industries, and commitment to personalized service, BMO Harris is well-positioned to help businesses grow their operations and achieve their financial goals.

So if you’re looking for high-quality commercial banking services from an experienced financial institution with a proven track record of success – choose BMO Harris Bank Commercial today!

FAQs

What is the minimum balance requirement for a BMO Harris Bank Commercial account?

The minimum balance requirement for a BMO Harris Bank Commercial account varies depending on the type of account you open. It’s best to consult with a banker to determine the specific requirements.

Can I access my BMO Harris Bank Commercial account online?

Yes, BMO Harris Bank offers online banking for all of its commercial accounts, making it easy and convenient to manage your finances from anywhere.

Does BMO Harris Bank offer business loans?

Yes, BMO Harris Bank offers a variety of business loan options, including term loans, lines of credit, SBA loans, and more. They are dedicated to helping small businesses grow and succeed.

How can I apply for a commercial account with BMO Harris Bank?

You can apply for a commercial account with BMO Harris Bank by visiting your local branch or by filling out an application online. A banker will then be in touch to go over the details with you.

What types of merchant services does BMO Harris Bank offer?

BMO Harris Bank offers a wide range of merchant services designed to help businesses accept payments from customers both in-store and online, including credit card processing, point-of-sale systems, and more.

Will I have access to cash management tools through my commercial account with BMO Harris Bank?

Yes, as a commercial customer with BMO Harris Bank, you’ll have access to a variety of cash management tools that can help streamline your business’s financial operations and improve cash flow. These tools include remote deposit capture, ACH transfers, and wire transfers.

Can I integrate my accounting software with my commercial account at BMO Harris Bank?

Yes! Integration is available with Quickbooks, Xero, and other popular cloud accounting software. This can help streamline your accounting processes and give you a clearer picture of your business’s financial health.

What is the process for opening a commercial account with BMO Harris Bank?

To open a commercial account with BMO Harris Bank, you’ll need to provide some basic information about your business, including your EIN, the business’s legal structure, and more. Once that information is gathered, the bank will review it and work with you to put together an appropriate banking plan for your needs.

Does BMO Harris Bank offer mobile banking for its commercial customers?

Yes! BMO Harris Bank offers both Android and iOS apps for its commercial customers, making it easy to manage your finances on-the-go.

How does BMO Harris Bank protect my sensitive financial information as a commercial customer?

BMO Harris Bank takes data security very seriously, using multiple layers of protection to keep your sensitive financial information safe from cyber threats. These measures include firewalls, encryption technology, fraud detection systems, and more.

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