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Overdraft Services for personal checking accounts

Overdraft Services for personal checking accounts

When it comes to overdrafts, you have options. 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.

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

BMO Harris Smart Money Accounts: Overdraft Program for ATM and Everyday Debit Card Transactions is not available. New Overdraft Protection Services cannot be added to this account after 6/12/21.

About Overdrafts

What is an overdraft?
Any time a transaction results in a negative balance to your account, it’s considered an overdraft. For example, an overdraft takes place when you make a payment and don’t have enough money in your account to cover it. This is not the only scenario in which you could overdraw your account.

How overdrafts are handled at BMO Harris
At our discretion, we pay checks, automatic bill payments and other transactions that overdraw your account. We’ll decline ATM and everyday debit card transactions that would overdraw your account unless you opt-in to the Overdraft Program for ATM and Everyday Debit Card Transactions described on the Overdraft Program tab. We won’t guarantee that we’ll always pay or authorize any type of transaction even if we’ve paid similar items in the past. footnote 1, terms and conditions1 Please check out the Fees tab for fees associated with overdrawing your checking account.

As stated in the Deposit Account Agreement, 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. The order in which you write checks and authorize other withdrawals is not necessarily the same order they post to your account, which will affect whether you incur Overdraft and Item Returned fees.

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Helpful Tips

Ways to avoid an overdraft

  • Consider a BMO Harris Smart Money Account with no Overdraft fees or Item Returned fees
  • Revoke your opt-in to the Overdraft Program for ATM and Everyday Debit Card Transactions (in other words, opt-out)
  • Set up Overdraft Funding to have funds pulled from a linked account
  • Apply for an Overdraft Protection Line of Credit to have funds advanced from a line of credit
  • Sign up for BMO Digital Banking to:
    • Deposit checks from your phone with the BMO Digital Banking app, footnote 2 and 3, terms and conditions2, 3
    • Set a daily budget and keep track of your spending
    • Sign up for email or SMS alerts to receive updates about your account, footnote 3, terms and conditions3
    • Access account statements and view current balance information

Avoid overdraft fees with a BMO Harris Smart Money Account
Our low monthly fee checking account gives you peace of mind with:

  • No Overdraft Fees
  • No Item Returned Fees

Visit the BMO Harris Smart Money Account page for full account details.

What is overdraft protection?

These are optional services that let you link your BMO Harris savings, money market of other checking account or Line of Credit as a backup to your checking account to cover an overdrawn account.

BMO Harris offers two types of Overdraft Protection Services to help protect you from paying Overdraft or Item Returned fees. These are Overdraft Funding and Overdraft Protection Line of Credit.

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Your options for handling overdrafts:


Overdraft Protection Services
Overdraft Program for ATM and Everyday Debit Card Transactions Overdraft Funding, footnote 4, terms and conditions4 Overdraft Protection Line of Credit
Who is it for?

Who is it for?

  • Certain checking account customers can opt-in to this program if they are comfortable overdrawing their account and paying the fees associated with ATM and everyday debit card transactions
  • Customers who have a companion checking, savings or money market account to link to cover overdrafts
  • Customers who apply for, and are approved for, a line of credit that can be linked to cover overdrafts
How it works

How it works

  • If you choose to opt-in:
    • At our discretion, we’ll pay ATM and everyday debit card transactions that would overdraw your account
    • Even if we’ve done so before, we don’t guarantee that we’ll always pay or authorize all transactions
  • If you revoke your opt-in (in other words, you choose to opt-out), footnote 5, terms and conditions 5:
    • We’ll decline ATM and everyday debit card transactions that would overdraw your account
  • Money transfers automatically from your linked BMO Harris savings, money market or other checking account to cover your overdraft
  • Transfers are subject to funds availability and transfer limitations
  • Accesses your line of credit automatically in increments of $10 to cover the overdrawn amount up to your available credit limit
What it costs

What it costs*

  • If you choose to opt-in:
    • 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 $50 after all items are posted to the account
    • We will charge a maximum combined total of three Overdraft Fees and/or Item Returned Fees (NSF) per business day, footnote 6, terms and conditions 6
  • If you revoke your opt-in (in other words, you choose to opt-out), footnote 5, terms and conditions 5:
    • No Overdraft Fee or Item Returned Fee (NSF) will apply to ATM and everyday debit card transactions
  • $10 Overdraft Funding Transfer Fee
    • One fee per transfer, one transfer per business day, footnote 6, terms and conditions 6
    • The fee is included in the amount transferred if there are sufficient funds available
    • This fee is waived for transfers into BMO Harris Premier Accounts, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • $10 Advance Fee
    • One fee per advance, one advance per business day, footnote 6, terms and conditions 6
    • This fee is waived for transfers into BMO Harris Premier Accounts, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • A fixed 18% Annual Percentage Rate (APR) applies to outstanding balances
  • $15 Late Payment fee
How to apply

How to apply

  • Opt-in or opt-out of this program by:
    • Logging in to BMO Digital Banking and modifying your overdraft selection within the “Account Preferences” section
    • Calling us at 1-888-340-2265 
    • Speaking with a BMO Harris Banker at any branch
  • Speak with a BMO Harris Banker by calling 1-888-340-2265 or visiting your nearest branch
  • Complete an application in person at a branch or over the phone by calling 1-888-340-2265 

Overdraft Protection Services can help you save on fees

Without Overdraft Protection Services, you pay: $36 per item, no more than 3 charges per business day6
With Overdraft Funding, you pay: $10* per transfer, one transfer per business day6
With Overdraft Protection Line of Credit, you pay: $10* per advance, one advance per business day6

Plus, it costs you nothing to add these services to your account and you only need to pay when you use them.

Want to learn more?
We’re here to help you choose the best Overdraft Protection Services for you:

  • Visit bmoharris.com/overdraft
  • Call us at 1-888-340-2265 
  • Visit us at your nearest BMO Harris branch

, footnote* 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 we are unable to transfer funds for all items that overdraw the account due to the transfer limitations. 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., footnote 1, terms and conditions 1

These fees do not apply to the BMO Harris Smart Money Account

Overdraft Fee:

  • You’ll be charged a $36 fee for each item we pay (regardless of the amount of the item) when your account is overdrawn more than $50 after all items are posted to the account.
  • This fee does not apply to ATM and everyday debit card transactions unless you authorized us to pay them, nor does it apply to bank fees and service charges that overdraw your account. This fee is also not charged if we previously returned the item.

Item Returned Fee (NSF fee):

  • You’ll be charged a $36 fee when 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. This fee is not charged if we previously returned the item.

We’ll charge a maximum combined total of three Overdraft Fees and/or Item Returned Fees (NSF) per business day., footnote 6, terms and conditions 6

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


  1. footnote 1 details 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 do not opt-in to the Overdraft Program for ATM and Everyday Debit Card Transactions.
  2. footnote 2 details Mobile Deposit is available using the BMO Digital Banking 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 five calendar days. Deposits are not immediately available for withdrawal. For details, please see the BMO Digital Banking Agreement found at bmoharris.com/legal.
  3. footnote 3 details Message and data rates may apply. Contact your wireless carrier for details.
  4. footnote 4 details CDs, IRAs and BMO Harris Health Savings Accounts® are not eligible to be linked under Overdraft Funding. Transaction limitation fees may apply to money market checking accounts.
  5. footnote 5 details 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 to the Overdraft Program for ATM and Everyday Debit Card Transactions.
  6. footnote 6 details Business days are Monday through Friday except federal holidays.

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