Bank of Montreal
Introduction
The bank of Montreal which operates as the BMO Financial groups and commonly shortened as BMO was founded in 1817 in Montreal, Quebec, Canada. It is one among the Big Five banks in Canada.
Basing on assets and marketing capitalization, Bank of Montreal is the fourth largest bank in Canada and is enlisted in the ten largest banks in North America.
The BMO’s official head office is in Montreal, located on Saint Jacques street while the chairman, president, and other executive officers work in Toronto offices at first Canadian place.
Subsidiaries of the Bank of Montreal are
• BMO Capital Markets
• BMO Harris Banks
• BMO Nesbitt Burns
Services of Bank of Montreal
The Bank of Montreal provides the following services:
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It provides you the Android pay and Apple pay apps to make it user-friendly to pay by using debit and credit cards of BMO.
It features BMO ATM banking, BMO Telephone banking, BMO Branch Banking services too.
• Managing Money
It saves the trip to ATM or bank by direct deposit of funds service. The automatic bill payments from your BMO bank account are made on their due dates by the pre-authorized payment feature.
There is also a free service named BMO Power Switch that helps transferring pre-authorized payment from another financial institution and create new Pre-Authorized Payments from your new BMO chequing account and credit card.
• Account services
Transferring of money overseas for personal or business purpose is made simple and convenient by BMO Money transfer services. There is another quick, convenient and secure way to receive and send money called as wire Transfers.
• Travel services
Travelling is made easy with BMO travel services which provide travel insurance, BMO Prepaid Travel MasterCard, and foreign currency exchange.
Awards and Recognition
• On December 8th, 2017 BMO won the top honor for corporate reporting.
• On November 30th, 2017 BMO has been named as Best Canadian Mobile
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These accolades represent the Royal Bank of Canada’s leadership in granting customers and clients the finniest banking service and customer experience, which translates into one of the Royal Bank of Canada’s greatest strengths in the industry. This success is further evident through their second quarterly report of the 2015 year, in which the Royal Bank of Canada earned a net income 2.4 billion dollars (“About RBC”, n.d) compared to BMO, another member of Canada’s “big five”, that only earned 1 billion dollars of net income during the same year and quarter (“BMO Financial”, n.d). Furthermore, being one of Canada’s most well-known banks is another strength the Royal Bank of Canada can boast about; due to its popularity and relevance it is more often than not that clients will affiliate themselves with a trusted and relevant brand such as the Royal Bank of
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