BMO Mobile App Change

God forbid they join the 21st century and adopt mobile cheque deposit....

SuperSauvage wrote: ↑ God forbid they join the 21st century and adopt mobile cheque deposit....

I'm still surprised BMO doesn't offer mobile cheque deposit, all of the other big 5 banks do, plus the smaller banks like National Bank, all of Ontario's credit unions, and even Desjardins.

I would think in the age of free etransfers, the cheque will go the way of the dodo. Instead of a cheque, I just etransfer now.

User455957 wrote: ↑ I would think in the age of free etransfers, the cheque will go the way of the dodo. Instead of a cheque, I just etransfer now.

Between two individual people, of course! I haven't even owned cheques in years. But when you get a rebate cheque or a government cheque or a refund cheque or happen to still be paid by cheque or get a cheque from your grandma on Christmas (my grandma uses E-Transfer lol) then it's very inconvenient for your bank to not offer mobile cheque deposit

Even BMO Harris, their U.S. operation, offers mobile cheque deposit in their version of the app. It must be BMO Canada's antique internal IT structure that can't handle it.

Their app finally doesn't look like it was designed for android 2.1

But they're still missing mobile deposits. I'm glad I left them. Pathetic excuse for a bank.

Exp315 wrote: ↑ Even BMO Harris, their U.S. operation, offers mobile cheque deposit in their version of the app. It must be BMO Canada's antique internal IT structure that can't handle it.

I could vouch for this. But remember that BMO Harris is actually stuck with their platform since early 2000s. During the merge of BMO's Harris and M&I to become BMO Harris Bank, a bunch of Wisconsinite clients left for the backward move.
I also used BMO and BMO Harris in the past and could confirm that they both need catching up a lot. Look at TD Bank and other US Bank/Credit Unions.

For a Canadian bank, it seems like every other should learn from Tangerine, if not CIBC/Simplii. TD/Scotia are about the same.

dekvitaly wrote: ↑ I could vouch for this. But remember that BMO Harris is actually stuck with their platform since early 2000s. During the merge of BMO's Harris and M&I to become BMO Harris Bank, a bunch of Wisconsinite clients left for the backward move.

I don't know if BMO Harris shares any IT infrastructure with BMO Canada, but I can say that the two can't even transfer funds back and forth without hefty wire transfer fees.

The policies of BMO Harris seem better, although that's probably due to their more competitive U.S. environment:
- Cheques clear in 2 days, including Saturday as a business day. At BMO Canada it's 3-5 days, and for US$ cheques it's 30 days, the longest of any bank in Canada
- Accounts with a balance requirement to waive fees specify average monthly balance, not daily minimum.
- The balance requirement for their basic business account to waive fees is $1500. For BMO Canada, it's $35,000.
- You can direct-deposit to any other U.S. bank account using ACH, and receive direct deposits the same way, and they will actually print and mail a cheque for you to recipients without ACH
- You can mobile-deposit cheques up to $10,000, and have the deposit explicitly approved by email within 30 minutes to release an initial amount