BMO ALTO REVIEW 2024: COMPETITIVE APYS AND ZERO FEES FOR THOSE WHO PREFER ONLINE BANKS

All rates and fees are current as of April 11, 2024, and are subject to change. 

BMO Alto rates and products

BMO Alto offers a high-yield savings account and six CDs with APY rates above the national average. 

Savings accounts

BMO Alto offers its customers one of the best high-yield savings accounts. You can transfer money to this account from any other bank, and you’ll receive interest, which is compounded daily and credited to your account at the end of the month. Below are the features of the BMO Alto Savings account. 

BMO Alto savings rates compared to current top rates*

While BMO Alto is a great option for those seeking high yields on their savings, some institutions offer higher interest rates. Compare the rates above to this list of competitors:

Certificates of deposit

BMO offers six fixed-term CDs between six and 60 months. These high-APY CDs don’t require deposits when opening them. However, you must fund your account within 10 days to avoid an automatic account closure. You’ll also get a 10-day grace period to withdraw or add to your funds when they mature; otherwise, the CD renews automatically with the same CD term features. 

Compare more CD rates:

Online banking

BMO Alto offers online banking, which allows you to manage your account from anywhere. Its interface is intuitive, and you can access it using popular browsers, such as Chrome, Firefox, Microsoft Edge, and Safari.

The BMO Alto platform and customer support 

While you’d expect an online bank without physical branches to grant its customers mobile access to their accounts, BMO Alto does not provide a mobile app. However, its website is easy to use, and you can call (855) 266-8100 if you need help opening or running your online bank account. Still, expect long wait times when calling BMO Alto’s customer service line since the support team is only reachable via…