News Releases

TORONTO, ONTARIO--(Marketwired - June 21, 2013) - As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense', BMO is releasing a financial tip every day in the summer to help Canadians make the 'BMOst of summer' in 2013.

BMOst of Summer Financial Tip of the Day: Redeem loyalty rewards to help offset the costs of summer activities.

With the official start of summer today, Canadians' thoughts turn toward the fun activities that the season can bring. Fortunately, many of these activities do not need to come with a huge price tag.

"As our thoughts turn to summer and all the wonderful moments that this all-too-short season entails, staying on track financially can sometimes move down on the priority list," said Su McVey, Vice President, BMO Bank of Montreal. "With a flexible reward program, such as the BMO Rewards or the AIR MILES Reward Program, you can redeem reward currency for a variety of summer merchandise, including sporting or camping gear, passes to local attractions and more."

According to a recent BMO Bank of Montreal survey, the majority (79 per cent) of Canadians are looking for ways to save money and maximize the value of their summer purchases. Further, more than two-thirds (70 per cent) expect to cash in their reward points this summer, with one-third (29 per cent) planning to spend their points on airfare. As a typical amount, Canadians estimate they have accumulated the equivalent of $400 in points.

BMO offers a number of products and services that can help Canadians get the "BMOst" out of this summer. BMO is offering 500 bonus AIR MILES reward miles with their no-fee BMO AIR MILES credit card; for more details, drop by a BMO branch or visit bmo.com.

As well, until August 31, 2013, each time you spend $20 or more with your BMO Debit Card or BMO credit card, you will automatically be entered to win one of 10 prizes of 100,000 AIR MILES reward miles. Start using your BMO Debit Card and BMO MasterCard today for up to 120 chances to win.

The survey results cited above are from online interviews with a random sample of 1,513 Canadians 18 years of age and over, conducted by Pollara between May 23 and May 27, 2013. A probability sample of this size would yield results accurate to ± 2.5 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.