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[BMO] Free unlimited bank account for new customers only

Jr. Member
Jun 8, 2012
179 posts
30 upvotes
McMaggot wrote:
Apr 15th, 2017 2:22 pm
All transactions that could be conducted by you without assistance of an employee with the exception of deposits will be charged. Let us not read tea leaves here.
So it's safe to deposit cash at the counter without getting charged?

I'm supposed to desposit some money today. I was thinking if I should do it in person or by ATM. ATM usually puts a temporary hold so I'd prefer over the counter since it's a big amount.
Sr. Member
User avatar
Aug 8, 2015
640 posts
468 upvotes
Toronto
SHR3WD wrote:
Apr 17th, 2017 11:35 am
So it's safe to deposit cash at the counter without getting charged?

I'm supposed to desposit some money today. I was thinking if I should do it in person or by ATM. ATM usually puts a temporary hold so I'd prefer over the counter since it's a big amount.
If I remember correctly, BMO now does not put a hold on ATM cash deposit of up to $500.
Jr. Member
Jun 8, 2012
179 posts
30 upvotes
Paroxetine wrote:
Apr 17th, 2017 11:45 am
If I remember correctly, BMO now does not put a hold on ATM cash deposit of up to $500.
I'm looking to deposit $1000+
Sr. Member
User avatar
Aug 8, 2015
640 posts
468 upvotes
Toronto
SHR3WD wrote:
Apr 17th, 2017 11:46 am
I'm looking to deposit $1000+
Deposit at the counter then. I never got charged for regular counter transactions and inquiries.
Newbie
Feb 24, 2012
8 posts
1 upvote
pmcd wrote:
Mar 7th, 2017 1:30 pm
Tangerine charges for interac transfers. I don't particularly find the bmo offer that enticing but Tangerine is not what it once was.

On the other hand, BMO seems to do a hard credit check when opening an account. In fact possibly two. One for the card and the other for the account. This is what I experienced a few years ago and that was a prepaid card not even a credit card. Complained for months with no avail..
Wrong, tangerine offers the free email money transfer which is 2-3 business days + the $1 instant email transfer.
Moderator
User avatar
Mar 23, 2004
34689 posts
2641 upvotes
Markham
SHR3WD wrote:
Apr 17th, 2017 11:35 am
So it's safe to deposit cash at the counter without getting charged?

I'm supposed to desposit some money today. I was thinking if I should do it in person or by ATM. ATM usually puts a temporary hold so I'd prefer over the counter since it's a big amount.
Deposits never get charged because you are giving the bank money. It doesnt make sense if you need to pay them money to give them money :lol:
「もし、奇跡を起こせたら……」
Jr. Member
Jun 8, 2012
179 posts
30 upvotes
angel_wing0 wrote:
Apr 17th, 2017 12:05 pm
Deposits never get charged because you are giving the bank money. It doesnt make sense if you need to pay them money to give them money :lol:
Yeah that's what I would think too but you never know with clauses likes "anything you can do without an agent but still do gets charged" :/
Sr. Member
Jun 1, 2008
938 posts
100 upvotes
Toronto
msagriff wrote:
Apr 17th, 2017 11:50 am
Wrong, tangerine offers the free email money transfer which is 2-3 business days + the $1 instant email transfer.
Interac transfers are pretty instant. Tangerine charges for those. Many other places mentioned in this thread do not. I have no issues with Tangerine. They do seem to be less attractive than they once were given the alternatives.
Deal Addict
User avatar
Aug 4, 2003
2249 posts
754 upvotes
SHR3WD wrote:
Apr 17th, 2017 12:10 pm
Yeah that's what I would think too but you never know with clauses likes "anything you can do without an agent but still do gets charged" :/
That clause is worded like that to not to miss anything but we have a clearly worded exception to that clause. You will be fine.
Loose lips sink ships.
Jr. Member
Jun 8, 2012
179 posts
30 upvotes
McMaggot wrote:
Apr 17th, 2017 12:46 pm
That clause is worded like that to not to miss anything but we have a clearly worded exception to that clause. You will be fine.
Perfect. The only time I go into a bank is for deposits. Plus no worrying about transferring money in and out since I transferred my payroll to it. So far really happy with the account and the credit card :)
Moderator
User avatar
Mar 23, 2004
34689 posts
2641 upvotes
Markham
McMaggot wrote:
Apr 17th, 2017 12:46 pm
That clause is worded like that to not to miss anything but we have a clearly worded exception to that clause. You will be fine.
and i m pretty sure they dont want you to go into a branch to deposit anyway :lol:
「もし、奇跡を起こせたら……」
Sr. Member
Nov 28, 2013
522 posts
189 upvotes
Quebec
So anyone was able to do this with being a non new customer ( I read the title) just wondering if someone was able to
Deal Addict
User avatar
Aug 4, 2003
2249 posts
754 upvotes
angel_wing0 wrote:
Apr 17th, 2017 1:31 pm
and i m pretty sure they dont want you to go into a branch to deposit anyway :lol:
Oh ya, banks know they can make more money if people do everything themselves but also, branch banking is on the way out. A buddy of mine who is into retail banking told me that counter bank transactions continue to decline annually. It won't be long before banks start closing branches again. I remember fairly well like a decade and half ago, RBC was closing branches left and right then they went on opening spree about 5 years ago.
Loose lips sink ships.
Newbie
Apr 16, 2017
2 posts
Mansech wrote:
Mar 14th, 2017 8:05 pm
Anyone that completed the application can comment if there is any step after you digitally sign the documents? I only signed the document for the chequing and savings account. Should there be one for the credit card?

After I digitally signed the form and submitted I got a technical error and asked to book appointment. But in my email I receive confirmation of account opening and says my CC and debit card will be coming in the mail..
When did you receive the email confirmation? I had the exactly same problem as you did. I signed the form digitally but then got a technical error in the last step while creating a online banking password. However, I haven't received any email confirmation yet. It's been couple of hours. I called the BMO twice. One guy told me that I don't have to do anything but wait for my debit card and creditcard that would be sent to me in 5-7 days. Another guy told me that I have to go to a branch to finish the paperwork. Now I'm totally confused. I will just go to a branch after work.
Sr. Member
Nov 25, 2007
685 posts
173 upvotes
Toronto
echotree wrote:
Apr 17th, 2017 2:48 pm
When did you receive the email confirmation? I had the exactly same problem as you did. I signed the form digitally but then got a technical error in the last step while creating a online banking password. However, I haven't received any email confirmation yet. It's been couple of hours. I called the BMO twice. One guy told me that I don't have to do anything but wait for my debit card and creditcard that would be sent to me in 5-7 days. Another guy told me that I have to go to a branch to finish the paperwork. Now I'm totally confused. I will just go to a branch after work.
The email was within 5 mins of the error. There's a 14-digit ref # for the mastercard application on it.
I also went into the branch next day to confirm everything was okay. The teller wasn't able to help but one of the advisors working in the offices was able to see my account and also pull up the form with my digital signature

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