Ongoing Deal Discussion

[BMO] Free unlimited bank account for new customers only

Deal Addict
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Apr 24, 2017
1855 posts
488 upvotes
Vancouver
mohammedessam wrote:
Aug 7th, 2017 1:06 pm
For me there is only one credit check with Transunion and I had to visit a branch to complete ID verification
I guess it is YMMV. My friend got 2 credit checks.
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Deal Guru
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Aug 8, 2012
10198 posts
3815 upvotes
BC
CDNPatriot wrote:
Aug 7th, 2017 1:15 pm
I can't believe that I would not be able to set bill payments for my credit cards and other bills via my account like with other banks. I'm currently with HSBC and they had this feature for over ten years. Not all credit card companies or vendors accept DBD. This is hard to believe and most likely a deal breaker.
You can pay bills. What are you talking about? What's DBD?

Direct Bank Deposit? I guess you mean PAP (pre-authorized payment) which is a PAD (pre-authorized debit). You do not have to use this to pay a bill. Pay a bill as usual like any other bank.
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 Addict
Aug 26, 2004
1634 posts
18 upvotes
I would like to set up an automatic amount for every month. Say $3000 payment towards my credit card or $150 toward a utility etc. Can 't do that for more than one payment.
Deal Guru
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Aug 8, 2012
10198 posts
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BC
CDNPatriot wrote:
Aug 7th, 2017 4:26 pm
I would like to set up an automatic amount for every month. Say $3000 payment towards my credit card or $150 toward a utility etc. Can 't do that for more than one payment.
Oh we just talked about that. You can't set *recurring* payments. You didn't say that :)
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 Addict
Aug 26, 2004
1634 posts
18 upvotes
Searched through the BMO website checking for the interest rate a few threads back someone said it was .0005 is this still the case? Debating with keeping my grandfathered HSBC Advance Savings, PC or this one.

Also saw that some also got $200 travel bonus but did anyone also get $50 off supplementary card holder in the first year?
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Mar 23, 2004
36501 posts
3333 upvotes
Markham
CDNPatriot wrote:
Aug 7th, 2017 7:24 pm
Searched through the BMO website checking for the interest rate a few threads back someone said it was .0005 is this still the case? Debating with keeping my grandfathered HSBC Advance Savings, PC or this one.
You can check SAV interest on this thread: https://forums.redflagdeals.com/officia ... 17-698055/
「もし、奇跡を起こせたら……」
Newbie
Mar 12, 2012
14 posts
1 upvote
Anyone know how they treat accounts that will be joint for this? I currently have a BMO account/credit card (both in my name only), but would love to close it and have my wife open an account in order to get this offer, than make me joint + Supplementary card on the Mastercard. Would that somehow affect the offer?
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Aug 8, 2012
10198 posts
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Crenz wrote:
Aug 9th, 2017 10:16 am
Anyone know how they treat accounts that will be joint for this? I currently have a BMO account/credit card (both in my name only), but would love to close it and have my wife open an account in order to get this offer, than make me joint + Supplementary card on the Mastercard. Would that somehow affect the offer?
Supplementary card isn't free.
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
Sep 2, 2008
10167 posts
590 upvotes
For those who were not able to complete the application online and had to go into a branch to do it, when you log in does it say you have this unlimited bank acct somewhere? Mine got charged 14.95 on July 31 as "Performance Plan"

The rep had to open a regular account and then escalate it to convert it to the online only account. However from what I see on the website I don't see where it says what plan I am on. I've asked the Financial Advisor to look into it and he will get back to me.
Last edited by slowtyper on Aug 9th, 2017 5:14 pm, edited 1 time in total.
Deal Guru
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Aug 8, 2012
10198 posts
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slowtyper wrote:
Aug 9th, 2017 5:14 pm
For those who were not able to complete the application online and had to go into a branch to do it, when you log in does it say you have this unlimited bank acct somewhere? Mine got charged 14.95 on July 31 as "Performance Plan"

The rep had to open a regular account and then escalate it to convert it to the online only account. However from what I see on the website I'm still on the "performance plan". I've asked the Financial Advisor to look into it and he will get back to me.
When you click on the chequing or savings account and see your latest transactions, at the top is a header with a bunch of info... under account balance you should see:
"Bank Plan: Bank Unlimited Plan"
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
Sep 2, 2008
10167 posts
590 upvotes
Raven_007 wrote:
Aug 5th, 2017 6:43 pm
Do they run the credit check during the application? Can everything (application) be done online? It looks like some people had to go to the branch.
Does the transfer from TD account to BMO account count as deposit? Is it easy to link them up - i.e. can be done online?
ace604 wrote:
Aug 9th, 2017 6:56 pm
When you click on the chequing or savings account and see your latest transactions, at the top is a header with a bunch of info... under account balance you should see:
"Bank Plan: Bank Unlimited Plan"
Thanks, mine is still incorrect. They better refund that $15 account fee as well!

I'm glad BMO is offering this but seems they really messed up the rollout. Wasting their employees and customers time.
Newbie
Aug 9, 2017
1 posts
If I currently have a cashback mastercard with BMO but no debit card...Can I still qualify for this offer?

thanks
Sr. Member
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Nov 25, 2013
676 posts
263 upvotes
Sauga
Got charged the annual fee for the world elite card. When I called, I was told if will be refunded in 90 days..wtf?
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Mar 23, 2004
36501 posts
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Markham
fiiw2008 wrote:
Aug 10th, 2017 1:24 pm
If I currently have a cashback mastercard with BMO but no debit card...Can I still qualify for this offer?

thanks
No.
Maplecountry wrote:
Aug 10th, 2017 1:58 pm
Got charged the annual fee for the world elite card. When I called, I was told if will be refunded in 90 days..wtf?
It sounds like you opened the Premium plan and not the Unlimited plan. Read this thread's OP for more info.
「もし、奇跡を起こせたら……」
Member
Dec 10, 2006
374 posts
47 upvotes
Mississauga
What's better, the Premium Plan or the Unlimited Plan? I'm not a current BMO customer but would like to open one up to get the World Elitr card

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