Bmo news and trends

Three Banks to Lower Prime Lending Rate to 8% After Fed’s Rate Cut
Banking // September 18, 2024

Three banks will lower their prime lending rate after the Federal Reserve decided to reduce the federal funds rate. BMO, Truist Financial and MT&T Bank said in separate press releases issued Wednesday (Sept. 18) that they will lower their prime lending rate from 8.5% to...

BMO Taps Elavon to Add Payment Solutions for Business Clients
Partnerships // March 15, 2024

Elavon, a global payment processor, has partnered with BMO, North America’s eighth-largest bank, to introduce a payment solutions platform for BMO’s U.S. clients.  The collaboration aims to optimize credit, debit and digital payment transactions, offering secure and scalable payment capabilities tailored to BMO’s diverse client base,...

Visa and BMO Team to Expand Credit Card Installment Access
Partnerships // October 30, 2023

Visa teamed with BMO to offer BMO credit card holders access to Visa’s Installments program. The payment option, set to launch next year, lets consumers at the Canadian financial institution convert qualifying purchases into smaller, equal payments made over a set period, the companies said...

BMO and DailyPay Enable Earned Wage Access for Commercial Clients
Payroll // September 21, 2023

BMO Financial Group has partnered with DailyPay, a provider of on-demand pay solutions, to enable BMO’s commercial clients to offer earned wage access to their employees. This collaboration aims to provide real-time access to wages as they are earned, giving employees the ability to access their funds...

Quick Reads
Mastercard Teams With BMO and Porter Airlines on Travel Rewards

January 29, 2025
Mastercard, BMO and Porter Airlines have launched a rewards program for Canadian travelers. The new BMO VIPorter Mastercard suite is set to roll out to Canadians in spring 2025, the companies announced Wednesday (Jan. 30). “Today’s consumer demands new offerings to bring them closer to their passions, including travel,” Diane Miquelon, senior vice president for financial institutions at Mastercard, Canada, […]

Three Banks to Lower Prime Lending Rate to 8% After Fed’s Rate Cut

September 18, 2024
Three banks will lower their prime lending rate after the Federal Reserve decided to reduce the federal funds rate. BMO, Truist Financial and MT&T Bank said in separate press releases...

BMO Taps Elavon to Add Payment Solutions for Business Clients

March 15, 2024
Elavon, a global payment processor, has partnered with BMO, North America’s eighth-largest bank, to introduce a payment solutions platform for BMO’s U.S. clients.  The collaboration aims to optimize credit, debit and...

Visa and BMO Team to Expand Credit Card Installment Access

October 30, 2023
Visa teamed with BMO to offer BMO credit card holders access to Visa’s Installments program. The payment option, set to launch next year, lets consumers at the Canadian financial institution...