BMO Expands Digital Personal Banking Products and Resources that Support Real Financial Progress Nationwide

PR Newswire
4 min read
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In this article:

  • BMO's digital Real Financial Progress Hub provides access to tools and resources designed to help consumers get ahead – and stay ahead – financially

  • Unique products and services designed to support customers' financial progress now available in new markets

LOS ANGELES, Nov. 6, 2023 /PRNewswire/ - BMO today announced the launch of its digital Real Financial Progress Hub, a resource that allows customers to easily access personal finance advice and guidance, as well as tools and resources to reach their own specific financial goals. In addition to helping customers budget and set financial targets, the digital Real Financial Progress Hub connects customers to BMO's innovative products and services available nationwide.

"For the first time, our customers can explore any financial goal and even multiple goals at once – whether it's budgeting, saving, homebuying, retiring, building credit and more – from one easy-to-navigate digital platform. We have brought all of our personal finance resources into one convenient spot to make financial progress easier," said Paul Dilda, Head of U.S. Consumer Strategy at BMO. "As we welcome new customers across the Western United States to BMO, we are proud to bring them our innovative products and services that were built with customers' progress in mind."

BMO's digital Real Financial Progress Hub helps customers:

  • Save to create financial stability: Learn how to manage everyday finances, start an emergency fund, build wealth for the future, and discover what bank accounts can best help reach those goals.

  • Budget for goals: Resources include monthly expense tracking, creating a 50/30/20 budget – which divides income into suggested spending categories – and preparing for big purchases.

  • Plan for the future: From homeownership to retirement, learn how to make a financial plan for life's biggest moments.

  • Understand how to build and sustain credit: Learn about terms, interest rates, and repayment plans on loans, lines of credit, and mortgages.

Additionally, the digital Real Financial Progress Hub includes the latest results from the BMO Real Financial Progress Index, a quarterly indicator of how consumers feel about their personal finances and whether they are making financial progress. The index aims to spark dialogue that will help consumers reach their financial goals and to humanize a topic that causes anxiety for many – money.

BMO's low- and no-cost offerings expanded to new markets

The following digital products and services are now available nationwide and supported in-person throughout the 22 states where BMO now operates more than 1,000 branches, following BMO's acquisition of Bank of the West – including Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Indiana, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming:

  • BMO Savings Builder Account: Reach financial goals with no monthly maintenance fee and get rewards when savings goals are met to help customers reach their goals faster.

  • BMO Smart Money™: A low-fee checking account with no overdraft fees that was awarded Bank On certification. Bank On's standards include low costs, no overdraft fees, transaction capabilities such as a debit or prepaid card, and online bill pay.

  • BMO Smart Advantage Checking Account: A no monthly maintenance fee or minimum monthly balance checking account with unlimited transactions at 40,000+ ATMs nationwide.

  • BMO SmartProgress: A free online personal finance education platform that breaks down complex financial concepts like investing, retirement planning, homeownership and credit management.

  • BMO Total Look: Manage all BMO and non-BMO financial information – from bank accounts to credit cards, mortgages to loans, and investments – all in one secure location.

  • BMO CreditView: A no-fee way to access your full credit report, learn how financial decisions might impact your credit with TransUnion ScoreSimulator®, and learn how to build credit with credit building tips.

  • BMO Cash Back Rewards Cards: Refreshed this year to offer increased rewards on everyday spending.

  • Credit Builder Account: A program that makes it easy to make on-time payments so you can build your credit rating in the process.

BMO customers can also access the above products, services, and resources nationwide through BMO Digital Banking.

To learn more about BMO Personal Banking, visit https://www.bmo.com/en-us/main/personal/.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of July 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

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SOURCE BMO Financial Group

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