The banks have the public so scared not to carry money and that’s why they are making that kind of the money every quarter. The public needs to wake up in my opinion and stop getting sucked in by these banks. I believe there would less fraud if people carried cash. If your going to say it’s safer, people are still getting robbed carrying plastic.

I will bring them down when I leave and take my $4.00 a month account some where else’s lol.

lol..

according to BMO's press release they only earned $647 million in the 4th quarter... The other banks are doing over $1billion :) That's still alot to me!
http://www2.bmo.com/news/article/0,1083,contentCode-9233_divId-3_langId-1_navCode-212,00.html

Financial Results Highlights:

Fourth Quarter 2009:

* Net income of $647 million, up $87 million or 16% from a year ago
* EPS1 of $1.11 and cash EPS2 of $1.13, both up $0.05 from a year ago
* Revenue increased 6.3% and expenses were reduced by 2.2% from a year ago
* Provision for credit losses of $386 million, down $79 million from a year ago. There was a $150 million increase in the general allowance last year and no change in the current quarter.

I find that BMO useless and that’s why they are at the bottom.

average_joe.... absolutely set up an account else where.
I'm surprised that BMO told you they don't offer secured credit cards.

It's a segment of the market that needs to be serviced.

Thanks for letting me know!

Monty,

Don't get me going on this subject lol. I deal with BMO and they do give a secure card to new immigrants to Canada. I asked them recently if I could get one and I was told they do not give secured cards to their bmo customers or to Canadian citizens, in my opinion this is discrimination. I decided that I am going to open a bank account with one of the other major banks like Td or Scotiabank that do offer this service.

Cheers

With many of the 200,000 new Immigrants to Canada coming from mainland China, it's prudent for Bank of Montreal MasterCard to offer a new credit card targeted to chinese professionals.

I'm hoping that this card will help our new fellow residents establish good credit in Canada!!

BMO MasterCard Launches First Affinity Card in Canada to Support 'New-to-Canada' Professionals in Chinese Canadian Community
Affinity arrangement with Chinese Professionals Association of Canada (CPAC) will help professional newcomers to Canada access essential credit

The Chinese Professionals Association of Canada (CPAC) was founded in 1992 with the objective of serving and representing the interests of professionals who are new to Canada. CPAC is now the largest Chinese professionals association in Canada. "Every year more than 200,000 newcomers choose Canada as their home and the largest percentage of newcomers are from Mainland China," said Nancy Marescotti, Director, Card Marketing, BMO Bank of Montreal.
http://www.newswire.ca/en/releases/archive/January2010/16/c9283.html