Skip navigation
Enabling cookies instructions
Select Region / Language
Contact Us
Convenience, confidence and peace of mind.

Overdraft Services for personal checking accounts

Overdraft Services for personal
checking accounts

In order for you to make an informed decision about which Overdraft Services may be best for you, you should understand the basics of what an overdraft is and how overdrafts are handled at BMO Harris.

About Overdrafts and Helpful Tips

About Overdrafts

What is an overdraft?
You have an overdraft any time you have a negative balance in your checking account. For example, your account can become negative when you do one of the following and you don't have sufficient available funds in your account:

  • use your debit card or ATM card
  • write a check
  • do a telephone or online transfer
  • authorize an automatic payment
  • get charged a fee

How overdrafts are handled at BMO Harris
At our discretion, we pay checks, automatic bill payments and other transactions that overdraw your account. We will decline ATM and everyday debit card transactions that would overdraw your account unless you select the Overdraft Program for ATM and Everyday Debit Card Transactions (opt-in) described on the Overdraft Program tab. We do not guarantee that we will always pay or authorize any type of transaction even if we have paid similar items in the past. For example, we typically do not pay items that overdraw your account if you are already being assessed a Consecutive Day Overdraft Fee.1

You agree to immediately repay us the amount of any overdraft, including fees. Any deposits into your checking account will be used to repay the overdraft and associated fees.

Please see the Fees tab for fees associated with overdrawing your account.

Helpful Tips

Avoid overdrafts with good money management
Here are a few easy ways to keep track of your funds in your BMO Harris checking account:

  • Monitor your transactions, check your account balances on a daily basis and transfer available funds between your eligible BMO Harris accounts anytime you need to, 24/7:
    • Use BMO Digital Banking online or from your mobile device.5
      • Sign up to receive email and/or SMS text alerts about your accounts.
    • Use BMO Harris Bank by Phone® at 1-888-340-2265

Other good ideas

  • Track your daily spending and establish a budget.
  • Keep enough funds in your account when writing checks, because checks now clear faster than ever.
  • Consider using direct deposit for your paycheck and other recurring deposits. Funds may be available faster, and you don't have to wait until you can get to the bank.
  • Download our mobile app and you can deposit checks using your device.6
  • Consider a BMO Harris Smart MoneyTM Account: If you don’t want to incur overdraft and item returned fees on your account, consider the BMO Harris Smart MoneyTM Account. When you have a BMO Harris Smart MoneyTM Account, we will return as unpaid items that overdraw this account and will decline ATM and everyday debit card transactions that would overdraw it. If we are unable to return an item that overdraws your account, we will use our discretion to pay it and you will not be charged a fee; and if your account becomes overdrawn, we will not charge you any overdraft or related fees.

As a reminder
The order in which you write checks and authorize other withdrawals is not necessarily the same order in which funds are subtracted from your account. The order in which items are posted to your account affects whether you incur overdraft and item returned fees. Read Section 2.C of the Deposit Account Agreement for Personal and Business Accounts for details on the order in which items are posted to your account.

Overdraft Protection Services

Overdraft Protection Services

Overdraft protection is the kind of service you rarely think about until the moment you need it. For example, you might forget to transfer funds to pay your bills, or just lose track of the balance in your account.

You may avoid paying overdraft and item returned fees and enjoy peace of mind with BMO Harris Overdraft Protection Services. We offer two Overdraft Protection Services:

  1. Overdraft Funding — transfers funds from a linked deposit account
  2. Overdraft Protection Line of Credit — transfers funds from a line of credit

Both services may help meet your needs, and you only pay for them when you use them. These Overdraft Protection Services can transfer funds to pay checks, ACH, bill payments, transfers, ATM and everyday debit card transactions.

It's important to realize that although Overdraft Protection Services have fees associated with their use, they can be invaluable in certain circumstances and may be less expensive than overdraft and item returned fees. Best of all, it costs nothing to keep them available, just in case you need them.

Compare Overdraft Protection Services

Overdraft Funding3 Overdraft Protection Line of Credit
How it works
  • Money is transferred automatically from your linked BMO Harris savings, money market or other checking account
  • Transfers are subject to funds availability and transaction limits
  • Your line of credit is accessed automatically in increments of $10 to cover the overdrawn amount up to your available credit limit
  • You must apply and be approved for the Overdraft Protection Line of Credit
What it costs*
  • $10 Overdraft Funding Transfer Fee
    • One fee per transfer; one transfer per business day4
    • The Overdraft Funding Transfer Fee is included in the amount transferred if there are sufficient available funds
    • This fee is waived for transfers into BMO Harris Premier™ Account, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • $10 Advance Fee
    • One fee per advance; one advance per business day4
    • This fee is waived for transfers into BMO Harris Premier™ Account, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • A fixed 18% Annual Percentage Rate (APR) applies to outstanding balances
  • $15 Late Payment Fee
This service may be a good option if
  • You have another BMO Harris personal deposit account that you want us to link to your checking account
  • You don't have another BMO Harris deposit account, don't want to link to one or want a service in addition to Overdraft Funding
  • You prefer the flexibility and convenience of a line of credit
Next steps
  • You can arrange for Overdraft Funding by speaking with a BMO Harris Banker today
  • An Overdraft Protection Line of Credit requires an application, which you may complete in person at a branch or over the phone
Overdraft Funding3 Overdraft Protection Line of Credit
How it works
  • Money is transferred automatically from your linked BMO Harris savings, money market or other checking account
  • Transfers are subject to funds availability and transaction limits
  • Your line of credit is accessed automatically in increments of $10 to cover the overdrawn amount up to your available credit limit
  • You must apply and be approved for the Overdraft Protection Line of Credit
What it costs*
  • $10 Overdraft Funding Transfer Fee
    • One fee per transfer; one transfer per business day4
    • The Overdraft Funding Transfer Fee is included in the amount transferred if there are sufficient available funds
    • This fee is waived for transfers into BMO Harris Premier™ Account, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • $10 Advance Fee
    • One fee per advance; one advance per business day4
    • This fee is waived for transfers into BMO Harris Premier™ Account, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • A fixed 18% Annual Percentage Rate (APR) applies to outstanding balances
  • $15 Late Payment Fee
This service may be a good option if
  • You have another BMO Harris personal deposit account that you want us to link to your checking account
  • You don't have another BMO Harris deposit account, don't want to link to one or want a service in addition to Overdraft Funding
  • You prefer the flexibility and convenience of a line of credit
Next steps
  • You can arrange for Overdraft Funding by speaking with a BMO Harris Banker today
  • An Overdraft Protection Line of Credit requires an application, which you may complete in person at a branch or over the phone

* Even if your account has an Overdraft Protection Service, the fees listed on the Fees tab for overdrawing your account still apply if you do not have sufficient available funds or credit availability for us to make a transfer or an advance. If you have Overdraft Funding, the fees listed on the Fees tab also apply if you don't have sufficient available funds to pay the Overdraft Funding Transfer Fee or if you have reached the transaction limitations for the linked account that the funds would be transferred from. If you have an Overdraft Protection Line of Credit and do not have sufficient credit availability to cover an item(s), the item(s) will be returned, and Item Returned Fees would apply.1

Overdraft Program for ATM and Everyday Debit Card Transactions

Overdraft Program for ATM and Everyday Debit Card Transactions*

By opting in to this Program, you authorize us to use our discretion to pay ATM and everyday debit card transactions that would overdraw your account.

If you do opt-in, and we use our discretion to pay those transactions, the Overdraft Fee and Consecutive Day Overdraft Fee, described on the Fees tab, will apply to the transactions.2

You can opt-in to the Overdraft Program for ATM and Everyday Debit Card Transactions or revoke your election at any time by calling 1‐888‐340‐2265, coming in to any branch and talking with a BMO Harris Banker, or logging in to BMO Digital Banking and modifying the overdraft preferences on your account.

*This Program is not available for the BMO Harris Smart MoneyTM Account.

Fees Associated with Overdrawing Your Account

Fees Associated with Overdrawing Your Account*

Overdraft Fee: You will be charged a $36 fee for each item we pay (regardless of the amount of the item) when your account is overdrawn more than $5 after all items are posted to the account. We will charge a maximum combined total of four (4) Overdraft Fees and/or Item Returned Fees (NSF) per business day.4 This fee does not apply to ATM and everyday debit card transactions unless you authorized us to pay them. This fee does not apply to bank fees and service charges that overdraw your account.

Item Returned Fee (NSF fee): You will be charged a $36 fee each time we return an item unpaid because your account does not have sufficient available funds to pay the item. This fee does not apply to declined ATM and everyday debit card transactions. We will charge a maximum combined total of four (4) Overdraft Fees and/or Item Returned Fees (NSF) per business day.4

Consecutive Day Overdraft Fee: You will be charged a $7 fee for each business day4 your account is overdrawn in any amount after your account is overdrawn for three (3) consecutive business days. You will be charged this fee even if your account is only overdrawn due to bank fees and service charges. A maximum of ten (10) Consecutive Day Overdraft Fees will be assessed for each occasion your account remains overdrawn.

*These fees do not apply to the BMO Harris Smart MoneyTM Account.

This information does not apply to BMO Harris Health Savings Accounts®

  1. If for certain reasons we are unable to return an item that overdraws your account, we will pay it and you will be charged any applicable fee associated with paying the item. If the item is an ATM or everyday debit card transaction, you will not be charged the Overdraft Fee if you have not authorized us to use our discretion to pay these types of transactions.
  2. BMO Harris will automatically decline ATM and everyday debit card transactions that would overdraw your account and no fee will be charged if you have not opted-in for the Overdraft Program for ATM and Everyday Debit Card Transactions.
  3. CDs, IRAs and BMO Harris Health Savings Accounts® are not eligible to be linked under Overdraft Funding. Transaction limitations apply to savings and money market checking accounts.
  4. Business days are Monday through Friday except federal holidays.
  5. Message and data rates may apply. Contact your wireless carrier for details.
  6. Mobile Deposit is available using the BMO Digital Banking smartphone app. This service may not function on older devices. Users must be a BMO Digital Banking customer with a BMO Harris account opened for more than 5 calendar days. Deposits are not immediately available for withdrawal. For details, please see the BMO Digital Banking Agreement found at bmoharris.com/legal.

For additional information about overdrafts, please read the Deposit Account Agreement for Personal and Business Accounts in the BMO Harris Handbook.

Contact Us

Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC.

Notice to Customers

To help the government fight the funding of terrorism and money laundering activities, federal law (USA Patriot Act (Title III of Pub. L. 107 56 signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask you to provide a copy of your driver's license or other identifying documents. For each business or entity that opens an account, we will ask for your name, address and other information that will allow us to identify the entity. We may also ask you to provide a copy of your certificate of incorporation (or similar document) or other identifying documents. The information you provide in this form may be used to perform a credit check and verify your identity by using internal sources and third party vendors. If the requested information is not provided within 30 calendar days, the account will be subject to closure.

Third party web sites may have privacy and security policies different from BMO Harris. Links to other web sites do not imply the endorsement or approval of such web sites. Please review the privacy and security policies of web sites reached through links from BMO Harris web sites.

BMO Harris Premier Services represents a combined service approach of BMO Harris Financial Advisors and BMO Harris Bank, each a part of BMO Financial Group.

Securities, investment advisory services and insurance products are offered through BMO Harris Financial Advisors, Inc. Member FINRA / SIPC . SEC-registered investment adviser. BMO Harris Financial Advisors, Inc. and BMO Harris Bank N.A. are affiliated companies. Securities and insurance products offered are: not fdic insured – not bank guaranteed – not a deposit – may lose value.

This information is not intended to be tax or legal advice. This information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Harris Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.