Ongoing Deal Discussion

[BMO] Free unlimited bank account for new customers only

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Rudeepoo wrote:
Aug 4th, 2017 12:59 pm
People with the WE, how's your experience booking travel through BMO?

If you read the comments section of this review (http://www.greedyrates.ca/blog/bmo-worl ... rd-review/), a lot of people seem to have had horrible experiences booking through BMO. Article is 2 years old, but a lot of the negative comments are fairly recent.

Thanks in advance for the feedback.
i have only booked airfare to HK so far, and the prices are comparable to what's on AC/Cathay/Expedia, and if there is a promo that you cant see on the BMO Rewards site you can just call in and price match. Works fine for me so far.
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Got charged $5 for cancelling an e transfer. Also, they charge $15 for a wire transfer. FYI.

Unlike TD, they can't add personal payees for bill payments. I needed cheques for this account, printed them at asap cheques for cheap.
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Maplecountry wrote:
Aug 5th, 2017 12:56 am
Got charged $5 for cancelling an e transfer. Also, they charge $15 for a wire transfer. FYI.

Unlike TD, they can't add personal payees for bill payments. I needed cheques for this account, printed them at asap cheques for cheap.
TD also charges $5 to cancel Interac e-Transfers. Rip-off. I'm just going to wait for it to timeout 30 days to get my money back :)

How does a personal payee work for TD bill payments?!
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote:
Aug 5th, 2017 2:09 am
TD also charges $5 to cancel Interac e-Transfers. Rip-off. I'm just going to wait for it to timeout 30 days to get my money back :)

How does a personal payee work for TD bill payments?!
I didn't know that e transfers could be timed out. Thanks for the info.

Personal payees works if you have employees to pay or a service to pay on a recurring basis, like day care fees or lawn maintenance.
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ace604 wrote:
Aug 2nd, 2017 10:05 pm
LOL, I didn't realize they can't do recurring bill payments. LOOOL. They also can't do recurring transfers from savings to chequing (I think it was one-way they could do it, maybe not both ... or you had to pay a fee to set it up or something stupid?)

Anyways, add that to the list like angel said ... no mobile cheque deposits either.

In terms of automating the requirements, I've done $750 twice a month from payroll and scheduled 2 recurring $750/mo transfers on EQ's side to pull from BMO on the 16th and last day of the month.
I've also setup quarterly transfers of $1 into BMO savings from EQ, and then back out a week later. You have to keep the savings account open to qualify ... if you don't use it ever it could go inactive and dormant (see above futility for reason to schedule it recurring from external and not internal :D)
This guy seem to be the most cost effective hacker in Canada :)
Few questions since I like your setup:
1) is EQ authorized to do drawals from BMO checking/saving accounts?
2) is your EQ account the free saving account only?
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Rudeepoo wrote:
Aug 4th, 2017 12:59 pm
I'm considering switching from the CB to WE as well, but the only thing keeping me with the CB for now is the Roadside Assistance. I actually had to use it for the 1st time a few weeks ago for a dead battery. I do have free roadside through the Home Trust Visa as well though, so the switch is tempting. But the Home Trust roadside isnt' as good as the BMO one.

People with the WE, how's your experience booking travel through BMO?

If you read the comments section of this review (http://www.greedyrates.ca/blog/bmo-worl ... rd-review/), a lot of people seem to have had horrible experiences booking through BMO. Article is 2 years old, but a lot of the negative comments are fairly recent.

Thanks in advance for the feedback.
I've booked hotel rooms several times now through BMO. I find it a lot easier to reach a few hundred (worth) of points for a room or two, versus enough for an actual vacation or flight.

All the times I've done it, it's been fine. Prices were EXACTLY the same as Expedia. Recently, BMO was somehow better than other rates advertised.
Thing is, it's not a guarantee match as everyone has mentioned and there have been a few times where the price was just off, even called to ask (to which they say they don't match rooms, only flights) so I had to book elsewhere.

Since the points aren't going anywhere and I use them here and there, the BMO system not being perfect doesn't bother me ... If I can't redeem this time, then I will check next time.

If you save your "entire life" for that one big trip and then the BMO price is a few hundred off and can't be marched, I could see that bothering people. Just know, it could happen with this card. Like I said though, generally my experience has been a lot better than what "online" says.
BMO WE is my day-to-day card with 2% back on everything (in points that is).
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KeusGod wrote:
Aug 5th, 2017 9:35 am
This guy seem to be the most cost effective hacker in Canada :)
Few questions since I like your setup:
1) is EQ authorized to do drawals from BMO checking/saving accounts?
2) is your EQ account the free saving account only?
See thread here: eq-bank-savings-account-thread-interac- ... d-1916839/

EQbank.ca only offers one product right now, their savings account. You can link it with up to 10 different external accounts using micro deposits to verify like Tangerine does. Then you can push or pull money to/from those linked accounts. You can link to both BMO chequing and savings.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote:
Aug 5th, 2017 12:30 pm
See thread here: eq-bank-savings-account-thread-interac- ... d-1916839/

EQbank.ca only offers one product right now, their savings account. You can link it with up to 10 different external accounts using micro deposits to verify like Tangerine does. Then you can push or pull money to/from those linked accounts. You can link to both BMO chequing and savings.
Advantage being, automatic?
And obviously this "transaction" counts towards the monthly total.

So far we've just been logging in monthly, as long as we remember lol
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DaVibe wrote:
Aug 5th, 2017 12:35 pm
Advantage being, automatic?
And obviously this "transaction" counts towards the monthly total.

So far we've just been logging in monthly, as long as we remember lol
Logging in monthly to what? BMO? Why?

What monthly total of transactions? There is no monthly total for any of these.

The credit card has to have monthly activity. The chequing account has to have $1500/mo in deposits (not net). The savings account can't go inactive (not sure on how many months makes it inactive so I have quarterly transfers in/out in case it is 6 months).
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote:
Aug 5th, 2017 12:38 pm
Logging in monthly to what? BMO? Why?

What monthly total of transactions? There is no monthly total for any of these.
To send back the EMT. The $1500 transaction I meant.

Edit: Oh I log in as well to make sure my S.O. has made a transaction on the CC. If not, my yelling ensues :)
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ace604 wrote:
Aug 5th, 2017 12:30 pm
See thread here: eq-bank-savings-account-thread-interac- ... d-1916839/

EQbank.ca only offers one product right now, their savings account. You can link it with up to 10 different external accounts using micro deposits to verify like Tangerine does. Then you can push or pull money to/from those linked accounts. You can link to both BMO chequing and savings.
*The EQ Bank Savings Plus Account is currently not available in Quebec Face Screaming In Fear WTH
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KeusGod wrote:
Aug 5th, 2017 12:50 pm
*The EQ Bank Savings Plus Account is currently not available in Quebec Face Screaming In Fear WTH
Ya, EQ = Except Quebec.

I did check your profile for a province before replying - you don't say you are in QC :)

You can use Tangerine to accomplish the same things.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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DaVibe wrote:
Aug 5th, 2017 12:41 pm
To send back the EMT. The $1500 transaction I meant.

Edit: Oh I log in as well to make sure my S.O. has made a transaction on the CC. If not, my yelling ensues :)
Oh, using Interac? That works. I don't want to login and do that monthly when I can automate it and forget about it.

The card is in a drawer actually and I have a recurring $1/mo charge on it and the bill is paid automatically by PAD from EQ.

The whole thing is on autopilot and I don't have to do anything. I get 4 lounge passes and a backup 2% card out of the deal. It's tolerably worth it with the automated setup. If I had to actually do stuff to maintain it monthly I may not even have bothered :D
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Guru
Nov 16, 2004
13694 posts
1225 upvotes
Toronto
ace604 wrote:
Aug 5th, 2017 1:21 pm
Oh, using Interac? That works. I don't want to login and do that monthly when I can automate it and forget about it.

The card is in a drawer actually and I have a recurring $1/mo charge on it and the bill is paid automatically by PAD from EQ.

The whole thing is on autopilot and I don't have to do anything. I get 4 lounge passes and a backup 2% card out of the deal. It's tolerably worth it with the automated setup. If I had to actually do stuff to maintain it monthly I may not even have bothered :D
That's honestly the perfect way to benefit from this promotion. I need to follow you guys and automate :)
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ace604 wrote:
Aug 5th, 2017 1:17 pm
Ya, EQ = Except Quebec.

I did check your profile for a province before replying - you don't say you are in QC :)

You can use Tangerine to accomplish the same things.
Seems Tangerine has good offers now. But not sure which accounts I'll need to get, they have Saving+CHQ+Payroll. I'm also not sure should I keep $100 in account for each. It seems they do not have monthly fees. Any idea ?

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