Grades are also broken down by the financial products offered be each institution. BMO Harris is rated "B" in Mortgages, "A" in Debt Collection, "A" in Credit Cards, and "B" in Bank Account Services. Click on any of the financial products to see how BMO Harris compares.
BMO Harris has received 514 consumer complaints since December, 2011 – more than 97% of other banks.
Of those complaints, 98.6% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' BMO Harris meets the 60-day response deadline more frequently than 50.2% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 26.3% of customers dispute BMO Harris's response to complaints — worse than 82.8% of other companies.
Most of BMO Harris's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
BMO Harris is primarily a commercial bank with no specific specialization. BMO Harris is based in Chicago, Illinois and is the 20th largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, BMO Harris receives far more complaints than most other banks. BMO Harris recieves more complaints per customer than 97% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan modification,collection,foreclosure||61|
|2||Bank account or service||Checking account||Account opening, closing, or management||46|
|3||Mortgage||Other mortgage||Loan servicing, payments, escrow account||42|
|4||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||38|
|5||Bank account or service||Checking account||Deposits and withdrawals||36|
|6||Bank account or service||Other bank product/service||Account opening, closing, or management||22|
|7||Consumer loan||Vehicle loan||Managing the loan or lease||21|
|8||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||20|
|9||Bank account or service||Checking account||Making/receiving payments, sending money||16|
|10||Mortgage||Conventional adjustable mortgage (ARM)||Loan servicing, payments, escrow account||16|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||435||434 (99.8%)||124 (28.5%)|
|2||Closed with monetary relief||58||55 (94.8%)||7 (12.1%)|
|3||Closed with non-monetary relief||35||35 (100%)||5 (14.3%)|
|4||Closed without relief||27||27 (100%)||11 (40.7%)|
|5||Closed with relief||18||17 (94.4%)||1 (5.6%)|
|6||In progress||4||4 (100%)||0 (0%)|
|7||Untimely response||2||0 (0%)||0 (0%)|
|8||Closed||2||2 (100%)||0 (0%)|