Agreements, Bank Plans and Fees for Everyday Banking

Agreements,

Bank Plans and Fees

for

Everyday Banking

Effective date July 1, 2022

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Agreements, Bank Plans and Fees for Everyday Banking

The following pages contain terms, conditions, and fees including banking agreements that apply to Personal Accounts at

Bank of Montreal. You agree to the terms in the terms, conditions and fees in the following pages. These agreements are

effective July 1, 2022, and replace all previous agreements you have with us.

You need to read and understand the agreements covering the services you have chosen. In these agreements, ¡°you¡±

and ¡°your¡± mean each person who signed the application, and ¡°we¡±, ¡°us¡±, ¡°our¡±, ¡°BMO¡± and ¡°the Bank¡± mean

Bank of Montreal.

The meanings given to terms defined in these agreements shall be equally applicable to both the singular and plural forms

of such terms, unless the context clearly indicates otherwise. The term ¡°including¡± means ¡°including but not limited to¡±,

and the term ¡°or¡± has, except where otherwise indicated, the inclusive meaning represented by the phrase ¡°and/or¡±.

For residents of Quebec: You have expressly requested that this Agreement and any related documents be drawn up in

English. Vous avez express¨¦ment exig¨¦ que cette Entente et tout document qui s¡¯y rattache, soient r¨¦dig¨¦s en anglais.

Table of Contents

I.

Fee Schedules ................................................................................................................1

1)

2)

3)

4)

5)

II.

Bank Plan Features and Fees........................................................................................................................ 1

How to get No Monthly Plan Fee or Discounted Banking ............................................................................3

Pay-per-use Fees...........................................................................................................................................5

Additional Services and Fees ........................................................................................................................6

Bank Accounts and Plans No Longer Offered ...............................................................................................8

a. Discontinued Bank Accounts ............................................................................................................................. 8

b. Discontinued Bank Plans ................................................................................................................................... 9

Personal Account Agreement ....................................................................................... 11

1) Privacy Disclosure & Consent ¨C Your Personal Information ........................................................................11

2) Identification Requirements for Personal Accounts ....................................................................................11

3) General Terms and Conditions .................................................................................................................... 14

a. Deposits .............................................................................................................................................................14

b. Interest............................................................................................................................................................... 15

c. Withdrawals....................................................................................................................................................... 15

d. Cheque Hold Policy ...........................................................................................................................................16

e. Checking your Statements and Account Information...................................................................................... 17

f. Consent to Electronic Delivery Of Documents ................................................................................................. 17

g. Fees....................................................................................................................................................................19

h. Inactive Accounts ............................................................................................................................................. 20

i. Dormant Accounts ............................................................................................................................................ 20

j. Tax Residency Requirements........................................................................................................................... 20

4) Joint Accounts.............................................................................................................................................. 21

5) Savings Builder Account..............................................................................................................................22

6) AIR MILES Reward Program.........................................................................................................................22

III. Everyday Bank Plan Agreement.................................................................................. 24

1) General Terms and Conditions ....................................................................................................................24

2) BMO Credit Card Annual Fee Rebate...........................................................................................................25

a. Premium Plan Credit Card Rebate ....................................................................................................................25

b. Performance Plan Credit Card Rebate..............................................................................................................26

3) Features and Fees .......................................................................................................................................27

4) Low-Cost/No-Cost Account..........................................................................................................................28

5) Discounted Banking Programs....................................................................................................................28

IV. Overdraft Protection Agreement................................................................................. 30

1)

2)

3)

4)

General Terms and Conditions ....................................................................................................................30

Overdraft Limit ............................................................................................................................................30

Payment ......................................................................................................................................................30

Termination of Agreement.......................................................................................................................... 31

V.

Overdraft Transfer Service Agreement ........................................................................32

VI. Electronic Banking Services Agreement.......................................................................33

1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

11)

12)

13)

14)

15)

16)

17)

18)

19)

20)

21)

22)

23)

Definitions................................................................................................................................................... 33

Use of Electronic Banking Services .............................................................................................................34

Timing of Electronic Transactions ...............................................................................................................34

Instructions by Fax or Verbally by Telephone ............................................................................................. 35

Foreign Currency Transactions .................................................................................................................... 35

Alerts........................................................................................................................................................... 35

BMO Digital Banking ...................................................................................................................................36

Personal Financial Money Management ....................................................................................................36

BMO Aggregation Services..........................................................................................................................36

Third-Party Aggregation Services ............................................................................................................... 37

Keeping Your Secret ID Codes and Card Number Confidential ................................................................... 37

Your Reporting Obligations ......................................................................................................................... 37

Your Liability................................................................................................................................................38

Limitation of Our Liability ...........................................................................................................................38

Contactless Payments .................................................................................................................................39

BMO Mobile Cheque Deposit ......................................................................................................................39

BMO Global Money Transfer........................................................................................................................40

We May Charge for Services........................................................................................................................42

Return of your Card; Non-Transferability ....................................................................................................42

We May Set Limits or Change this Agreement ...........................................................................................42

Records and Dispute Resolution .................................................................................................................43

Other Agreements and Laws May Apply ....................................................................................................43

We May Obtain Personal and Credit Information .......................................................................................43

VII. Other Fees ................................................................................................................... 44

a. Registered Plans................................................................................................................................................44

b. Non-BMO Customer Fees ..................................................................................................................................44

VIII. Glossary of Terms ........................................................................................................ 45

IX. Voluntary Codes of Conduct and Public Commitments ................................................ 47

X.

Complaint Resolution Process ..................................................................................... 49

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