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BMO Bank of Montreal Launches Banking Package for Newcomers

VANCOUVER, BRITISH COLUMBIA, May 19, 2010 (MARKETWIRE via COMTEX) -- Editors Note: There is a photo associated with this Press Release.

BMO Bank of Montreal is assisting new Canadians with the introduction of its Newcomers to Canada Program, providing new Canadians with banking products and services essential for settling in their new country. Special offers include free banking for the first year, a free small safety deposit box for one year, and a preferred GIC rate for those customers with saving and investment needs.

According to Citizenship and Immigration Canada, there were nearly 250,000 immigrants to Canada in 2008. In Toronto and Vancouver alone, there were approximately 87,000 and 37,500 immigrants, respectively.

"As Canada's first bank, BMO has always made supporting newcomers a priority. We have a long and proud history of serving the financial needs of multicultural communities," said Su McVey, Vice-President, Customer Communications & Marketing, BMO Bank of Montreal. "We are committed to helping make the transition for new Canadians as smooth as possible and believe the BMO Banking Package for Newcomers will assist with the everyday banking needs of new Canadians."

BMO has spent more than 25 years assisting new immigrants with financial advisory services and is the only Canadian bank with branches in each of Beijing, Shanghai, Guangzhou and Hong Kong.

"At BMO, we understand moving to a new country may be stressful," said Jennifer Muench, VP, Vancouver District, BMO Bank of Montreal. "Our community branches are staffed with multi-lingual employees and we offer financial solutions created specially to help newcomers achieve their personal and financial dreams in Canada."

BMO Banking Package for Newcomers Highlights:

Everyday Banking
--  Free Performance Plan with unlimited transactions for the first year
Safety Deposit Box
--  Free small safety deposit box (or 25 per cent off larger sizes) for the
    first year
BMO Term Investments
--  Until September 1, 2010 BMO will offer a 0.50 per cent interest rate
    bonus on GIC's of one to five years
BMO MasterCard
--  No-fee cash back and no-fee Air Miles options

Importance of Helping Newcomers Get Established

BMO Bank of Montreal understands the importance of helping newcomers get established as quickly and easily as possible. New Canadians play a vital role in contributing to our economic prosperity and we share a collective responsibility to ensure their transition to Canada is smooth.

Newcomer Customers can contact us at 1-877-CALL BMO; visit a local BMO branch or online at

BMO's Support for New Canadians and Multicultural Communities

--  BMO regularly supports multicultural community events including its
    recent sponsorship of Dragon Ball in Toronto, TaiwanFest, S.U.C.C.E.S.S.
    Foundation, World Partnership Walk for the Aga Khan Foundation, Iranian
    Day Festival, and the Diwali Festival in Vancouver
--  BMO is the only financial institution in Canada to establish an affinity
    card partnership that reaches out specifically to the Asian community
    through the Chinese Professionals Association of Canada (CPAC) a
    federally registered, not-for-profit organization which serves as an
    advocate for immigrant professionals of Chinese decent
--  BMO's workforce mirrors the diversity of the Canadian mosaic and where
    ever possible we try to provide services in the language of our
    customers' choice
--  BMO has Chinese, Korean and Punjabi glossaries on its website and other
    customer communication material is available in multiple languages

NOTE: To view the photo associated with this release, please visit the following link -

For media inquiries please call:
Laurie Grant

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