ABA Banking Journal
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Eighth Circuit reverses $563 million verdict against BMO Harris | ABA Banking Journal
October 1, 2024 - In a 3-0 decision, an Eighth Circuit panel reversed a $563 million verdict against BMO Harris Bank, ruling the bank should have been allowed to use the in pari delicto defense in a lawsuit claiming it aided and abetted Thomas J. Petters’ ...
Robins Kaplan
robinskaplan.com › newsroom › news › bmo-harris-ordered-to-post-bond-for-more-than-1-point-158-billion
BMO Harris Ordered to Post Bond for More Than $1,158,000,000 Pending Appeal of Our Historic Verdict | Robins Kaplan LLP Law Firm
On July 25, 2023, a federal judge in St. Paul ordered BMO Harris Bank to post bond for more than $1.158 billion as a result of the $1 billion jury verdict.
Trustpilot
ca.trustpilot.com › home › money & insurance › banking & money › bank › bmo harris bank reviews
BMO Harris Bank is rated "Bad" with 1.1 / 5 on Trustpilot
October 9, 2025 - I’ve been a loyal customer of BMO (formerly Bank of the West) for over 10 years, but my recent experience at the Concord branch was beyond disappointing—it was dehumanizing. After my purse was st... See more ... Received a letter today, April 15 . Letter sent April 10th. Account closed March 31! No warning, no email, text, no notice on the account, which still shows open online. I had some recurring utilities... See more ... I have had a BMO Harris credit card for two years.
Address Chicago, US
SoloSuit
solosuit.com › posts › bmo-harris-bank-review-pros-cons
BMO Harris Bank Review: Pros and Cons | Solo Blog
October 27, 2023 - For example, on the BBB page, they have a 1.06-star rating from many reviews. In addition, the BBB and Consumer Financial Protection Bureau have received more than thousands of complaints against BMO Harris Bank in the last three years alone. Here is an example of a consumer complaint from the BMO Harris Bank BBB profile:
Downdetector
downdetector.com › status › bmo-harris › map
BMO Harris Bank outage and reported problems map | Downdetector
User reports indicate no current problems at BMO Harris Bank
Downstats
downstats.com › service › bmo-harris
BMO Harris Bank down? Real-time status and problems
Real-time problems information for BMO Harris Bank. Can't log in or make payment? Website down? Check to see if BMO Harris is currently down.
Top Class Actions
topclassactions.com › home › bmo harris bank stopped nsf fees but may have previously unlawfully charged them
BMO Harris Bank stopped NSF fees but may have previously unlawfully charged them
November 11, 2024 - Why: There is no evidence to suggest BMO Harris has done anything improper, but it is one of several banks included in the investigation.
Robins Kaplan
robinskaplan.com › experience › secured-over-1-billion-against-bmo-harris-bank-related-to-petters-fraud-ponzi-scheme
Secured Over $1.1 Billion Against BMO Harris Bank in Petters Fraud Litigation Related to One of the Biggest Ponzi Schemes in U.S. History
On June 23, 2023 the court granted the Plaintiff’s motion for pre- and post-judgment interest, bringing the total amount of the award to over $1 billion. On July 25, 2023, a federal judge in St. Paul denied BMO Harris Bank’s motion waive the bond requirement, ordering the bank to post bond for more than $1.158 billion.
eMarketer
emarketer.com › content › bmo-bank-of-west-deal-potential-fines
Alleged Ponzi scheme could end BMO Harris/Bank of West merger
July 28, 2022 - The news: Chicago-based BMO Harris Bank, which could potentially pay billions of dollars in fines for its alleged involvement in a Ponzi scheme, now also faces accusations of destroying incriminating evidence, ... More on this: The US arm of ...
WalletHub
wallethub.com › profile › bmo-harris-bank-13003723i
BMO Harris Bank Reviews
This means that even if BMO Harris fails, you will eventually be able to recover an individual account's balance up to $250,000. If you have a joint account, each co-owner of the account is considered a separately insured customer. As a result, you can collectively recover the account's balance up to $500,000 in the event of a bank...
Bogleheads.org
bogleheads.org › board index › us investors › personal finance (not investing)
BMO Bank experiences? - Bogleheads.org
I used them a couple years- they were good on foreign exchange. Fair rates, no fee. But to deposit a check over 2-3 thousand took 7 business days. That is unnecessary in the modern world. None of my other banks and credit union do that. BMO is no longer my bank.
American Banker
americanbanker.com › news › jury-orders-bmo-harris-to-pay-more-than-550-million-in-ponzi-scheme-case
Jury orders BMO Harris to pay more than $550 million in Ponzi scheme case | American Banker
November 9, 2022 - BMO Harris said Tuesday that it intends to pursue all available legal options, including by appealing the jury verdict and the monetary award to a federal appeals court. ... BMO said that it intends to pursue all available legal options, including by appealing the jury verdict and the monetary award to the 8th U.S. Circuit Court of Appeals. "We are disappointed with the jury's verdict, which is not supported by the evidence or the law," a bank spokesperson said in a written statement.
Yelp
yelp.com › brands › bmo harris bank
Bmo Harris Bank Reviews | Read Customer Service Reviews of mibank.com
After depositing my very first check through the BMO mobile app, I was shocked to find out it will take 7 business days to process -- yes, seven! I even called customer · service hoping there was a way to speed things up, but got absolutely nowhere. How is anyone supposed to pay their bills or manage everyday expenses with such a ridiculous wait time for a simple mobile deposit? This is 2025 -- every other major bank processes checks within a day or two at most.
Downdetector
downdetector.com › status › bmo-harris
BMO Harris Bank down? Current status and problems. | Downdetector
Real-time overview of problems with BMO Harris Bank. Website down, can't log in? Here you see what is going on.
Reddit
reddit.com › r/banking › bmo harris bank fraud
BMO harris bank fraud : r/Banking
October 8, 2024 - What “recovery rebate tax credit”? It sounds like a scam. And go open an account at another bank. There’s a good chance your accounts at BMO are about to get closed and you’ll end up on a blacklist.
CreditDonkey
creditdonkey.com › bank reviews & deals › bmo › what is bmo
What Is BMO: Is It Legit and Safe? [2025 Guide]
October 31, 2025 - Yes, BMO is a real and legitimate U.S. bank with headquarters in Chicago, Illinois. They are regulated by the FDIC and are also an FDIC-insured bank. (FDIC #16571). They were also formerly known as BMO Harris Bank before their recent rebranding.
Reddit
reddit.com › r/banking › bmo is awful - does it get any better or start looking elsewhere?
r/Banking on Reddit: BMO is awful - does it get any better or start looking elsewhere?
October 2, 2023 -
We were with Bank of the West - transitioned to BMO recently. I saw other posts of the pains of online banking not working, so it seems like I was not the only one! My Zelle was also disconnected in the transition and won't reconnect.
I understand there are some bumps to be expected in a transition, but my real issue is the hold time on checks. We are a construction business - I have material to purchase, guys to pay... and they are holding funds for over a week! I've asked them to release it, cut the time back even a bit... and NOTHING. Nope, we can't help you - too bad, you chose to deposit your check here and so you have to deal with it.
I had 3 people in the branch tell me funds will be released today... well, surprise ... they weren't. I called BMO customer service - they are now telling me they won't be released until tomorrow. Such a frustrating and disappointing experience with BMO. What are your hold times like - long holds forever or is this part of the transition headache?
Top answer 1 of 23
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Longer check holds is happening elsewhere too. Another poster mentioned similar issues with a different bank recently. Open a line of credit to smooth out cashflow. Presumably, you require a deposit(s) for larger jobs. If so, maybe increase the deposit amount / percentage to account for increased costs and risk exposure. Setting aside the check holds issue, best to have multiple bank accounts for redundancy. Open another business account elsewhere. Also, while on that, if your personal account is also with BMO, open a second personal account elsewhere too.
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I don't bank with bmo but i'm sure bmo sees you as "new" account which is why all your checks are being put on hold. Any new bank you go to would have the same hold issues. For zelle, likely your token is still attached to bank of the west in the zelle system even though there is no deposit account attached to it. I have a potential solution you can try. If you bank at other places or have a trusted family member or friend that can help you.. See if they can register your token. If they are successful then have them unregister it after and you should be free to use it with bmo. If a token is already registered in the zelle system, some banks won't touch it while some will.
Banking Dive
bankingdive.com › news › bmo-harris-564-million-penalty-ponzi-scheme › 633945
BMO Harris ordered to pay $564M in Ponzi scheme case | Banking Dive
November 9, 2022 - BMO Harris, however, asserted it is entitled to recover about 21% of the amount paid to the trustee. “We are confident that we have strong grounds for appeal,” the bank said, adding the verdict “is not supported by the evidence or the law.”
PayPal Community
paypal-community.com › t5 › About-Settings-Archive › trouble-with-BMO-harris-bank-account-attaching › td-p › 880989
trouble with BMO harris bank account attaching. - PayPal Community
hello, each time i try to attach my BMO Harris account to my paypal account, it says it needs to go through a review. It is the only bank account I have.
Reuters
reuters.com › legal › canadas-bmo-books-834-mln-charge-over-us-ponzi-lawsuit-2022-11-09
Canada's BMO books $834 mln charge over U.S. Ponzi lawsuit loss | Reuters
November 10, 2022 - The jury ruled M&I "aided and abetted" Petters in the breach of fiduciary duty to his firm, Petters Company Inc (PCI). The jury did not find the BMO Harris Bank directly aided the fraud.