News Releases

BMO Bank of Montreal Responds to Customer Demand for RDSP

TORONTO, February 3, 2009 – BMO Bank of Montreal is responding to the popularity of the new Registered Disability Savings Plan by hiring additional call centre staff and establishing a dedicated phone line to keep up with customer demand.

“At the end of January we have set up more than 3,000 RDSP accounts from coast to coast” said Linda Knight, President and Chief Operating Officer, BMO Investments Inc., BMO Financial Group. “This level of demand is a testament to the popularity of this new program and its importance to Canadian families.”

BMO Bank of Montreal is the first bank to offer Canadians the RDSP, a new federal government initiative introduced to enhance the long-term financial security of people with disabilities.

Customers can apply for a BMO RDSP through BMO's investment call centre, BMO Investment Centre (BMO IC) at 1-800-665-7700.

Contributions to an RDSP may qualify for payments from the Canada Disability Savings Grant (CDSG) program to a lifetime maximum of $70,000 per beneficiary. Lower-income families may qualify for payments from the Canada Disability Savings Bond (CDSB) program without having to make a contribution to an RDSP, up to a lifetime maximum of $20,000.

How to apply for a BMO RDSP

BMO RDSP will be serviced and sold exclusively through BMO's investment call center, BMO Investment Centre (BMO IC) at 1-800-665-7700. Bell Relay Service: 1-800-855-0511
BMO IC is open Monday to Friday 7 AM to 11 PM (EST) and Saturdays 9 AM – 5 PM (EST). BMO IC will be open the last 5 Sundays of the RSP season, Feb, 1st to March 1st, from 9 AM to 5 PM EST.
BMO IC provides service in both official languages plus Cantonese and Mandarin.

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