How to Buy Crypto with BMO Harris Bank
This guide shows US investors how to buy crypto like Bitcoin and Ethereum with BMO Harris Bank through a regulated platform.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Summary: The most streamlined way to invest in cryptocurrencies using a BMO Harris Bank account is by partnering with a cryptocurrency exchange that is FinCEN compliant in the US. This approach simplifies the transaction process, allowing for fund transfers through ACH or by using a debit or credit card, making the acquisition and selling of digital assets more straightforward.
After thoroughly analysing numerous platforms, we recommend eToro as the top choice. As a regulated platform, eToro enables fast deposits from BMO Harris Bank accounts and offers a broad selection of cryptocurrencies. Additionally, eToro stands out as a more budget-friendly option compared to platforms like Coinbase, which are often critiqued for their higher fees.
Can I Buy Crypto with BMO Harris Bank?
If you hold an account with BMO Harris Bank, you can acquire Bitcoin among other digital currencies. However, you won't be doing so directly via your banking institution. Your journey involves registering with a US-based crypto exchange that is FinCEN compliant and accommodates ACH transfers and deposits using your BMO Harris Bank account. It's key to note that BMO Harris Bank doesn't directly manage cryptocurrency transactions. Therefore, choosing an exchange that strictly follows legal guidelines is recommended.
How to Buy Crypto with BMO Harris Bank
The most efficient route to enter the cryptocurrency market via a BMO Harris Bank account is to partner with a reputable crypto exchange based in the United States. For BMO Harris Bank account holders, eToro emerges as a superior choice. This platform enables swift and fee-free USD deposits through multiple avenues, such as ACH Bank Transfer, Debit Card, and Credit Card, among others.
Here's a step-by-step guide to acquiring digital assets directly from your BMO Harris Bank account:
- Visit eToro's official website and go through the registration process.
- Find the 'Deposit Funds' feature, typically located at the lower left corner of your dashboard.
- Input the amount of money in USD you'd like to deposit, and select your favored deposit method, such as an ACH transfer from your BMO Harris account.
- Complete the deposit in USD, and once the funds are cleared, you can use them to delve into the exciting world of cryptocurrencies.

What are the Fees?
The cost structure for purchasing Bitcoin and other cryptocurrencies using a BMO Harris Bank account can differ depending on the exchange you opt for. Key fees to be aware of encompass deposit charges, withdrawal fees, spread costs, and transaction-related expenditures.
For those with BMO Harris Bank accounts, eToro is a cost-effective choice. Notably, eToro allows for USD deposits at no additional fee, mainly facilitated by ACH transfers. Furthermore, eToro offers competitive transaction fees. The primary expense to be aware of when buying digital currencies on eToro is a nominal 1% spread fee. This rate is significantly more budget-friendly than other platforms like Coinbase or Gemini, where fees can go beyond 2%.
Is BMO Harris Bank Crypto-Friendly?
BMO Harris Bank enables its customers to interact with the growing crypto market, including popular assets like Bitcoin and Ethereum. This is possible through U.S. crypto exchanges that are FinCEN compliant. BMO Harris supports USD deposits through various methods such as ACH transfers and credit cards on these platforms.
Choosing a regulated exchange ensures BMO Harris account holders can venture into the crypto space with confidence, knowing they comply with U.S. and global financial laws. This approach encourages customer involvement in the expanding crypto industry while remaining within legal boundaries.
About BMO Harris Bank
BMO Harris Bank is a U.S.-based financial institution headquartered in Chicago, Illinois, and is a subsidiary of the Canadian multinational Bank of Montreal. Established in 1882, it offers a wide array of financial services, including personal banking, business banking, wealth management, and investment solutions. With hundreds of branches primarily located in the Midwest, BMO Harris Bank is committed to serving its diverse customer base through digital platforms as well as traditional banking channels.

Bottom Line
In conclusion, for BMO Harris Bank account holders looking to dive into the cryptocurrency market, aligning with a U.S.-based, FinCEN compliant exchange like eToro is an effective and cost-efficient strategy. eToro not only facilitates quick and fee-free USD deposits but also offers a wide range of cryptocurrencies at budget-friendly rates. By adhering to U.S. and international financial laws, this route allows individuals to invest in digital assets with confidence and ease, all while taking advantage of the diverse cryptocurrency options available.