BMO SmartSaver Account. | General comparisons | Discussion forum

GS said

BMO appears to have dropped their rate for their SmartSaver account from 1.2% to 1.1% overnight. This is BMO's "high(er) interest rate offering. The RBC High Interest eSavings Account, which is their high(er) rate offering is still at 1.2% this morning so it will be interesting to see if they and the other big banks follow BMO.

Greg

hmmmm I just opened one a few weeks ago to park some money in, for a few months. I guess it is off to Winnipeg!!!! Also note there is a $5 withdrawal fee from this account. You can avoid it by transferring online to another BMO account or even ask the teller to transfer for you.

GS said

BMO appears to have dropped their rate for their SmartSaver account from 1.2% to 1.1% overnight. This is BMO's "high(er) interest rate offering. The RBC High Interest eSavings Account, which is their high(er) rate offering is still at 1.2% this morning so it will be interesting to see if they and the other big banks follow BMO.

Greg

Oddly enough....here it is June 1 and NO interest on any of my BMO accounts that usually show as deposited on the end of the month AND both Accelerate and Outlook Financial have both deposited 1.8% interest as of May 31. Hey...wait is that 3/4% more than BMO!!?? What's with BMO??????

MG said

Kanaka said

Oddly enough....here it is June 1 and NO interest on any of my BMO accounts that usually show as deposited on the end of the month AND both Accelerate and Outlook Financial have both deposited 1.8% interest as of May 31. Hey...wait is that 3/4% more than BMO!!?? What's with BMO??????

Same deal with CIBC... not yet reflected in bank balances on June 1.

June 2: still no interest paid!

GS said

kanaka said

Oddly enough....here it is June 1 and NO interest on any of my BMO accounts that usually show as deposited on the end of the month AND both Accelerate and Outlook Financial have both deposited 1.8% interest as of May 31. Hey...wait is that 3/4% more than BMO!!?? What's with BMO??????

BMO's website is broken and has been broken for a long time. The "default" view, if I recall, is "last two weeks" and for some reason "today" doesn't show up in "last two weeks". The interest is there as your balance will show as being higher. Try looking at a different view.

Greg

Thanks Greg. I have a higher balance likely due to interest in the top blue box portion. Any of the view options do NOT show the interest being deposited. I tend to never look at that part of the screen and make all of my decisions based on a 7 day or 60 day or dates selected view of which none show my interest. I guess it is more important to reduce rates and keep the CEO happy with his wages!!! I have been a long time customer of BMO and am losing faith. Besides poor maintenance of their online banking they have chosen to give my name and number out to third party companies...one to sell me something and IPSOS Reid for a survey. I feel they have made poor decisions in giving a third party my name, phone number (and easy access to my home address), and the fact that I have a bank account at BMO. I don't know about every one else but I am adverse to those type of calls not to mention they may not really be who they say they are!!

This looks interesting, Bud. Thanks for the heads up.