News Releases
BMO Bank of
BMO's Performance Plan* allows customers to conduct an unlimited number of transactions from any number of personal accounts, such as chequing, savings and joint accounts, for one low fee of $13.95 a month. BMO is the only bank to offer a banking package that captures the transactions of all personal accounts under one plan fee.
“A typical high-transaction banking customer manages more than one account and will use each account for different purposes,” said Cid Palacio, Vice President, Banking Products, BMO Bank of
“BMO's Performance Plan is ideal for customers who hold several personal and/or joint accounts and use them for frequent transactions like paying bills, transferring funds, debit card purchases and using the BMO ABM network to make deposits and withdrawals,” Palacio explained.
“Our customers like the idea of having separate accounts for separate financial purposes but they also want the ability to link all their banking accounts and not be charged extra for them,” noted Palacio. “BMO's new Performance Plan looks at a customer holistically. What we've done is tailor this plan to fit our customers rather than forcing our customers to fit our plans.”
Free Banking for Youth and Seniors
In addition to announcing the new Performance Plan, BMO Bank of
Under BMO's new banking plan discount programs, youth, young adults and students can receive free banking with the Bank's Plus Plan or they can apply a monthly discount of $8.50 to the banking plan of their choice. This discount is now $3.00 more than their current plan discount. Furthermore, these changes will allow seniors, aged 60 or older, to receive the new Performance Plan for free.
Features of the new Performance Plan include:
- Unlimited banking transactions from multiple personal and joint accounts for one monthly fee;
- Two free Email money transfers;
- Overdraft transfer service between personal accounts in the Plan to cover overdrafts; and
- Free banking for customers with a minimum monthly balance of $2,500.
BMO Bank of
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $306 billion as at January 31, 2006, and more than 33,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions. BMO Financial Group serves clients across
*A complete list of BMO Bank of
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