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[BMO] Free unlimited bank account for new customers only

Deal Guru
Nov 16, 2004
12908 posts
874 upvotes
Toronto
McMaggot wrote:
Apr 20th, 2017 11:35 pm
One person claimed to have received it and typical RFDers took it as gospel. Although, RFDers could also have gotten BMO to remove bonus being paid error by constantly bugging BMO about bonus and bringing it to their attention. It was same kind of noise with last summer's chequing account promo where everybody and their grandmother wanted to verify if Tangerine would work.

In this case, there was no advertisement or promise of paying you the CC bonus. If you get it, good, if you do not, then no loss there either. Calling employees and bringing attention to it serves no one and it actually shows serious lack of critical thinking and herd mentality.
I'm generally of this mentality. It's not advertised, so don't ask. Sit back, wait and see.

In other news, got the card today in the mail, still haven't heard from BMO after "give us a week" to open the remaining accounts so ... Gonna have to call them to inquire. Exciting.
Might bug the branch who sorta spearheaded this first. I think CS might be a little confused or lost by trying to open online-only accounts.
"Deal of the Day" addict
Sr. Member
Jan 2, 2013
836 posts
71 upvotes
Etobicoke
I thought it was advertised as a part of the card - and I got it 6 weeks in.
Doesn't hurt to call in and ask - worst case, they say no.
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Mar 23, 2004
34215 posts
2482 upvotes
Markham
apoorv wrote:
Apr 21st, 2017 8:25 am
I thought it was advertised as a part of the card - and I got it 6 weeks in.
Doesn't hurt to call in and ask - worst case, they say no.
If someone gets the bonus and i dont, i hell make sure that I will tbh. Will report back if my gf gets the bonus on her card.
blueangel2323 wrote:
Apr 21st, 2017 1:58 am
I don't see how this is a promotion at all. BMO is one of the few banks that waive 100% of the monthly fee if you maintain a minimum balance, and almost everyone can keep a few thousand dollars in their chequing account, whereas a minimum monthly deposit is hard if you don't have a permanent job. Contract jobs are pretty much the norm these days, and it's not uncommon to have a gap between contracts.
It's a lot different than a MBM/MMB as the money needs to be in the account everyday. With this promo, you just need to put $1500 in the account for a mere few seconds and u are free to do whatever u want with it afterwards (move it back to where you sent from through EMT, oh yes). BIG BIG difference.
「もし、奇跡を起こせたら……」
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Dec 17, 2008
1509 posts
419 upvotes
Winnipeg
angel_wing0 wrote:
Apr 21st, 2017 10:01 am
If someone gets the bonus and i dont, i hell make sure that I will tbh. Will report back if my gf gets the bonus on her card.
My first statement posted for the Cashback card. I only appear to have gotten the 1.75% cashback, not the 4% advertised on their website...so I am in the same boat as you - I will be complaining if all these people who got the travel card get the free 20,000 points and they can't even give me the extra 2.25% cashback on the first 4 statements.
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Dec 16, 2005
2199 posts
448 upvotes
Shawguy wrote:
Apr 21st, 2017 10:46 am
My first statement posted for the Cashback card. I only appear to have gotten the 1.75% cashback, not the 4% advertised on their website...so I am in the same boat as you - I will be complaining if all these people who got the travel card get the free 20,000 points and they can't even give me the extra 2.25% cashback on the first 4 statements.
It is harder to get an extra 2.25% cash back than to credit bonus points.

Cash back is straight cash, do you expect them to give you a one time credit?
Member
Nov 9, 2015
224 posts
52 upvotes
Toronto, ON
Received pin for debit card yesterday.

Deposited cheque at the teller today!

There is a 12 day holding period!!!!!! WTF.

That is half a month lost interest at EQ. I was expecting to just Etransfer the money and see how long the hold is.

I expected it to be instant, or 5 days worst case scenario.
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Aug 4, 2003
2151 posts
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sundawner1 wrote:
Apr 21st, 2017 12:54 pm
Received pin for debit card yesterday.

Deposited cheque at the teller today!

There is a 12 day holding period!!!!!! WTF.

That is half a month lost interest at EQ. I was expecting to just Etransfer the money and see how long the hold is.

I expected it to be instant, or 5 days worst case scenario.
Over the years, after having dealt with BMO on more than a few occasions, I have realized they are an odd animal in the banking world. Thankfully, they will never be my primary bank. This account has cost me more than a few trips to a BMO branch. I guess they have the impression that my time has no value since I am roaming around GTA anyway. This crap really tests your patience to the limit.
Loose lips sink ships.
Deal Guru
Nov 16, 2004
12908 posts
874 upvotes
Toronto
Depositing at the ATM is faster than depositing at the branch.
PLUS, with this account, you will be charged to see a teller for that transaction.
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Mar 23, 2004
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DaVibe wrote:
Apr 21st, 2017 1:54 pm
Depositing at the ATM is faster than depositing at the branch.
PLUS, with this account, you will be charged to see a teller for that transaction.
For deposits it wouldnt apply. This question was asked earlier. One advantage at depositing with a teller is you can convince them to waive the hold on your cheque.
「もし、奇跡を起こせたら……」
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Dec 17, 2008
1509 posts
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Winnipeg
sundawner1 wrote:
Apr 21st, 2017 12:54 pm

Deposited cheque at the teller today!

There is a 12 day holding period!!!!!! WTF.

I expected it to be instant, or 5 days worst case scenario.
How big was the cheque? Did they tell you what your funds release amounts are?
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Dec 17, 2008
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Winnipeg
mech9t5 wrote:
Apr 21st, 2017 11:31 am
It is harder to get an extra 2.25% cash back than to credit bonus points.

Cash back is straight cash, do you expect them to give you a one time credit?
I called the call centre and they said I should be receiving the 4% cashback. They are looking into it and will call me back in 2-5 business days.
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Newbie
Feb 3, 2014
31 posts
9 upvotes
Mississauga
Alytann wrote:
Apr 21st, 2017 5:40 pm
I applied online and got a message that told me to call BMO. I called them and scheduled an appointment tomorrow.
To be continued...
Hopefully your branch visit goes smoother than mine. After getting an e-mail to say I had to go in and verify my account with 2 pieces of ID, I spent about 1.5 hours there trying to sort everything out; apparently this "digital" branch promo has everyone really confused.

All of my accounts we're put in a frozen state, and the CC was in a fraud state - no idea why. Finally got the credit card activated, but still waiting on the debit accounts. Nothing could be done in branch because of the type of account, so a work order had to be sent to the digital branch folks in Montreal to unfreeze everything. Also never received the PIN for my debit card in the mail, so they cut up my personalized card and gave me a temp one and said another personalized card would be mailed out. Frustrating to say the least.
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Dec 17, 2008
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nixonbw wrote:
Apr 21st, 2017 6:07 pm
Also never received the PIN for my debit card in the mail, so they cut up my personalized card and gave me a temp one and said another personalized card would be mailed out. Frustrating to say the least.
Similar thing happened to me. Opened the accounts online on March 23. I got the debit card March 31....I went to the branch on April 6 because the PIN had not come yet... the PIN showed up on April 10...but I already had a new non-personalized card from the branch...and I got my final personalized card on April 18.
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Member
Nov 13, 2009
328 posts
161 upvotes
Ajax
I received my credit card today and the pin 2 days ago
i had to visit a branch to activate the card and i had to visit a branch to verify my id when i opened the checking and saving account
so it looks like if you had to visit a branch to verify your id then you will need to visit a branch to activate the CC.
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