Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a cryptocurrency exchange. However, that doesn’t mean you can’t use your BMO Harris Bank account to buy crypto.
All you need is a reliable and trusted crypto exchange. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with BMO Harris Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with BMO Harris Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a crypto exchange.
However, there are many cryptocurrency exchanges that you can use for buying bitcoin and other cryptocurrencies.
1. Choose a crypto trading platform
While there are a lot of cryptocurrency exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your BMO Harris Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy cryptocurrency
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About BMO Harris Bank
BMO Harris Bank owns more than 500 branches. As part of the Allpoint network they offer fee-free access at approximately 44,000 ATMs. BMO Harris branches exist in Illinois and Wisconsin. BMO Harris Bank was ranked No. As of March 31, 2019, the bank ranked No. 19 in the nation. The bank offers checking and savings accounts, certificates, deposits, certificates, credit cards. Home equity loans, lines of credit, mortgages, home equity loans, line of credit, car loans, personal loans. It also provides insurance, financial planning, and wealth management services. Customers of BMO Harris Bank have the option to use the Zelle App for person-to–person payments. They can also fund their accounts remotely with a remote check deposit.
BMO Harris Bank - More Information: BMO Harris Bank, headquartered in Chicago, was founded as Harris Bank in 1882. BMO Harris Bank is part of the Bank of Montreal, which is its parent company.
BMO Harris Smart Account, BMO Harris Smart Money Account, and BMO Harris Prime Account are the three types of checking accounts offered by the bank. Each overdraft is $36, which can be up to 4 times per day. Overdraft protection transfers to other accounts are charged at $10 per day by the bank. Overdraft coverage for ATM and debit card transactions must be opted in.