Electronic Banking Services Agreement

1. Definitions

   "Account" means any one or more of the following that we have, at your request, linked for access with your Card:
   (i) a Bank of Montreal personal chequing account;
   (ii) a Bank of Montreal personal savings account.

   "Assisted-Service" means transactions or Account history inquiries completed with the assistance of a staff member in a Canadian branch or through Electronic Banking Services.

   "Alert" means a message about one or more of your Accounts which in turn may include your confidential information (for example, the Account balance or transaction details), that is sent electronically by us to you or by you to us, through one or more of the following channels:
   (i) a message that is posted in the Message Centre;
   (ii) an email message that is sent to an email account;
   (iii) a Short Message Service (SMS) or text message that is sent to a mobile phone number; or
   (iv) a push notification that is sent to a mobile device.
   

   "BMO Aggregation Service" means an account aggregation service offered through BMO Digital Banking that retrieves, consolidates, organizes and presents information to you about your accounts with us and with other financial institutions that you choose to have included.

   "BMO Digital Banking" means the online, mobile or any other digital self-service channel that we may make available to you.

   "Card" means:
   (i) your BMO Debit Card or any other card, whether physical or digital, issued by Bank of Montreal, that we permit you to use in connection with Electronic Banking Services;
   (ii) stored value cards when used in connection with your Secret ID Code in order to access your Account; and
   (iii) in each case the numbers associated with any such card, unless otherwise specified.

   "Debit Transaction" means a transaction that debits an Account conducted by any means of Account access, including cheques, and all withdrawals of funds, bill payments, KONEK™^§ service purchase, debit card purchases, transfers of funds including Interac e-Transfer^®§, BMO^® Global Money Transfer, Western Union^®‡‡ Money Transfer^TM‡‡ and pre-authorized bill payments or debits.

   "Electronic Banking Services" means the ways we may provide you with Account information electronically and the different ways we allow you to access an Account using your Card or Secret ID Code, including:
   (i) Bank of Montreal's Telephone Banking Services and any other Telephone Banking Service we may make available, which includes instructions given orally or through the use of an interactive voice response system (such as pressing the number buttons on a touch tone telephone);
   (ii) BMO Digital Banking;
   (iii) Alerts;
   (iv) BMO ATMs, or other ATMs that we approve for use, including devices for loading stored value cards;
   (v) point-of-sale or debit card terminals at locations that permit you to use your Card to make direct payment transactions from, to, or in connection with an Account;
   (vi) any account and information aggregation or consolidation services we make available;
   (vii) any other electronic channels that we may enable you to use by means of your Card or Secret ID Code or otherwise.

   "Electronic Transaction" means the following:
   (i) transactions with respect to an Account, including deposits, withdrawals, transfers or payments (including bill payments and direct payment and point of sale transactions), cheque stop payment instructions, KONEK service purchase, and other transactions with respect to an Account that we may permit through Electronic Banking Services;
   (ii) applications for investments, mortgages, loans and other types of credit; and
   (iii) other transactions, services or information that we may make available.

   "Message Centre" means a secure online location accessible through BMO Online Banking Services, or any other digital self-service channel that we may make available to you, where you and the Bank may exchange communications.

   "PIN" means a personal identification number.

   "Recipient" is any person who receives money through the BMO Global Money Transfer Service.

   "Secret ID Code" means your PIN, password, challenge questions and responses, biometric information or other identification code (whether provided to you by us or selected by you), which is used, together with your Card or alternate mutually agreed upon form of identification.

   "Third-Party Aggregator" means a third party who provides a Third-Party Aggregation Service. A Third-Party Aggregator does not include a third-party that we retain to assist us in providing a BMO Aggregation Service.

   "Third-Party Aggregation Service" means a third-party account aggregation or personal financial management service whose activities may include retrieving, consolidating, organizing, and presenting information to you about your accounts with us and with other financial institutions.

   "Verification Code" or One Time Passcode means a Verification Code that we may send to you to your registered mobile phone number via SMS (short message service/ text message) or email address when you initiate a call with us to the Customer Contact Centre or when you contact or visit your branch. We may send you a Verification Code via SMS, automated voice call, email, or push notification to your mobile device to validate your identity and provide another layer of protection when completing transactions online.

   
   

2. Use of Electronic Banking Services

   • Your use of Electronic Banking Services will show that you have received, understood and agreed to this Agreement. You will use Electronic Banking Services in accordance with our directions in this Agreement, or as otherwise communicated to you from time to time.
   • You authorize us to accept without any further verification, and you agree to be responsible for, all instructions for Electronic Transactions via Electronic Banking Services, when accompanied by your Card and/or Secret ID Code.
   • Except as shown in Section 14, "Your Liability", the use of your Card or Secret ID Code by you, or by any person with or without your knowledge or consent, in connection with an Electronic Transaction, binds you legally and makes you responsible as if you had given signed instructions to us.
   • We may verify communications, or the source of the communications, before we accept them, but we are not obligated to do so.
   • If you use Electronic Banking Services to make bill payments, it is your responsibility to ensure that the billing information (such as biller name and billing account number) you provide to us is accurate and up-to-date at all times and the amount of the bill payment is correct. You consent to us exchanging billing information with your billers to ensure that your billing information is accurate and up-to-date. We have no obligation to seek updates to your billing information from any billers and we are not liable to you for any loss, penalties, fees, interest, costs, damages or claim that may arise as a result of us not having obtained or received your accurate and up-to-date billing information.
   • If you use Electronic Banking Services for Interac e-Transfer, you agree that, it is your responsibility as a sender to (a) provide the accurate email address of the recipient; (b) create an effective security question and security response that is known only to you and the recipient, and (c) not to email the response to your recipient or include the response in the Interac e-Transfer message field. As a recipient, you agree to keep the answer to the security question confidential at all times and to use it only as required to receive the Interac e-Transfer.
   
   

3. Timing of Electronic Transactions

   • We will process Electronic Transactions made on a weekend or holiday on an Account on the day you make the transaction. We may, however, require up to five business days:
     (i) to process any deposit, including any transfer between Accounts; or
     (ii) to act on bill payment instructions.
   • When you make a purchase online or in-store that is outside of Canada that is processed through the Mastercard^®* network, we will place a hold on your Account for the value of the transaction for up to five business days. We will remove the hold when the transaction is posted to your Account or after five business days, whichever is shorter. Your transaction may take up to 30 days to be processed. You must have sufficient funds in your Account when your transaction is posted to ensure that your account does not go into overdraft.
   • When you make a purchase using KONEK, we will place a hold on your Account for the value of the transaction for up to seven business days. We will remove the hold when the transaction is posted to your Account or after seven business days, whichever is shorter.
   • When you make a purchase at a transit agency, transactions may not be posted to your Account right away. A hold will be placed on your Account for the value of the transaction for up to five business days. The hold will automatically be removed once the transaction is posted to your account.
   • We may decline or delay acting on an Electronic Transaction for any reason; for example, if the instructions are incomplete, ambiguous or cannot be carried out due to insufficient funds or otherwise, or if we doubt their authenticity or their lawfulness.
   
   

4. Instructions by Fax or Verbally by Telephone

   • We may tell you that we are willing to accept faxes (communications transmitted by facsimile) at designated telephone numbers.
   • In addition to communications by voice and mail, you authorize us to communicate with you through online notices as well as through the following channels at such numbers or addresses as you provide to us: fax or email message.
   • Faxed instructions are Assisted-Service Debit Transactions, and fees will be assessed accordingly if not covered by your Everyday Bank Plan.
   • We do not accept instructions provided by email.
   
   

5. Foreign Currency Transactions

   When you complete transactions with your Card in a currency other than Canadian dollars, the exchange rate for converting the transactions to Canadian dollars is the rate charged to us by Mastercard International on the date the transaction is posted to your account, plus 2.5% for purchases and minus 2.5% for refunds. For foreign currency transactions other than U.S. dollars, the amount is converted first to U.S. dollars and then to Canadian dollars.

   
   

6. Alerts

   • We currently offer the following types of Alerts:
     • (i) Low Account balance
     • (ii) Deposits to your Account
     • (iii) Withdrawals from your Account
     • (iv) When eStatements are available on your Account
     • (v) Compromised BMO Debit Card
     • (vi) When your email address or mobile number is changed
   • You will be automatically enrolled in low Account balance Alerts for your Accounts (including joint Accounts). These Alerts will be sent to the email account and/ or mobile number (text message) that you have provided to us as part of your contact information.
   • You will receive a low Account balance Alert when your Account balance falls below the threshold you designate in Digital banking, or $100, if you do not choose an amount.
   • We may enrol you automatically in other Alerts at any time.
   • If you are enrolled in Alerts and your Account is joint, you will receive Alert for transactions conducted by other accountholders. If the other accountholders are enrolled for Alerts, they will receive Alerts for transactions you may have conducted.
   • You are responsible for ensuring that the email address or mobile phone number you provide to us for the purpose of receiving Alerts are accurate and up to date at all times.
   • If you share an email address or mobile device with a third-party, you acknowledge that they may have access to Alerts delivered to you by email, SMS or push notification.
   • If you register for Alerts, and you dispose of your mobile device, you are responsible for notifying us of the change, and deleting the device as a delivery method for Alerts.
   • We cannot guarantee the timing of delivery of Alerts.
   • You are responsible for all fees charged by your mobile device service provider including standard messaging and data charges. If you cancel your mobile phone number or change your email address, you are responsible for deleting all Alerts delivered to that mobile phone number or email address.
   • Alerts are provided as a convenience to you for information purposes only. You agree that we are not liable to you for any loss or claim that may arise as a result of Alerts sent to you.
   • Alerts may not be available for use outside of Canada.
   • You can manage your Alert subscriptions including dollar thresholds, delivery method or opt out of certain or all Alerts through Digital Banking at any time.
   • You cannot opt out of Alerts for changes to your email or mobile number.
   • We may change the types of Alerts or delivery methods available for your Account at any time without advance notice. We will provide up-to-date information on our website at bmo.com/alerts.
   
   

7. Verification Codes

   • We may send you a Verification Code from time to time to validate your identity and provide another layer of protection when:
     • You are completing transactions online using BMO Digital Banking
     • You call the Customer Contact Centre or when you contact or visit your branch to request Account details and/ or complete financial transactions.
   • We may send you a Verification Code via SMS, automated voice call, email, or push notification to your mobile device.
   • You are responsible for ensuring that your email address or mobile phone number is accurate and up to date at all times to receive Verification Codes.
   
   

8. BMO Digital Banking

   • You must be registered for BMO Online Banking Services, and have set up your enhanced sign-in security to use any other BMO Digital Banking Services.
   • You are responsible for all fees charged by your mobile device service provider including standard messaging and data charges.
   • BMO Digital Banking may not be available for use outside of Canada.
   
   

9. Personal Financial Money Management

   We may provide you with access to personal financial money management tools (each a "Tool") through BMO Digital Banking. These Tools are provided to you are as a courtesy. Calculations that are provided are for illustration purposes only and are not warranted to be accurate or complete. The results presented in a Tool are based on certain assumptions used in the calculation models and (depending on the Tool) your BMO bank account data and/or the information you enter in that Tool. The information presented by a Tool is intended for our customers only.

   The Tool aggregates anonymized data entered into the program, which is compiled without identifying you. The aggregated data is then used to establish benchmarks within the Tool.

   
   

10. BMO Aggregation Services

    • We may offer BMO Aggregation Services.
    • For us to access your accounts at other financial institutions, you may be required to provide us with your log-in information at those financial institutions, such as your client identification number, username, access code, password, or other authentication criteria. It is your responsibility to review your agreements with other financial institutions to determine whether disclosure of your log-in information to parties that offer account aggregation services is allowed, what the consequences of such disclosure may be and your liability in connection with such disclosure.
    • We and our service providers will store your log-in information in encrypted form.
    • We will retrieve transactional and balance information, but not any other information, from your other financial institutions. You must access the website or online service of the other financial institutions to view other information such as notices, disclosures or disclaimers.
    • You authorize and direct us to do, on your behalf, everything necessary to provide the aggregation service to you and to retrieve, consolidate, organize and present aggregated information to you, which may include visiting the website of your other financial institutions and providing your log-in information as required to access, retrieve and download your information. You confirm that you have the right to give us this authorization and direction.
    • You understand and agree that the information that we retrieve for you from other financial institutions is prepared by them and that we are not responsible for the completeness or accuracy of that information. We and our service providers will not be liable to you for any damages resulting from the use of or the inability to use a BMO Aggregation Service or the inaccuracy or incompleteness of data.
    • You indemnify us and our service providers against any third-party claims arising from your use of a BMO Aggregation Service.
    • If you choose to include any foreign currency Accounts in your use of a BMO Aggregation Service, the value of these Accounts will be displayed in Canadian dollars and will be an estimate, for illustration purposes only.
    
    

11. Third-Party Aggregation Services

    If you choose to share your Secret ID Code, Card number or personal information with a Third-Party Aggregator or other third-party service provider, you acknowledge and agree that:
    

    • we are not responsible for helping the Third-Party Aggregator or other third-party in any way and are not responsible for the information retrieved by the Third-Party Aggregator or other third-party;
    • we are not responsible for any losses that may result from you sharing your Secret ID Code, Card number or personal information or using the Third-Party Aggregation Service. You could lose some or all of the money in your Account(s), including any amount available under any line of credit, through the loss, theft or unauthorized use of your Secret ID Code or Card number. The loss, theft, or unauthorized use of your Secret ID Code or Card number could also permit unauthorized persons to have access to your personal information and Account information and to use such information for fraudulent purposes including identity theft;
    • you are responsible to review the security and privacy terms and conditions and privacy policy of the Third-Party Aggregator or other third-party and to determine what your liability will be in connection with the Third-Party Aggregation Service;
    • you will change your Secret ID Code immediately when you end the Third-Party Aggregation Service; and
    • we have the right to prevent Third-Party Aggregators or other third-parties from accessing your Accounts.
    
    

12. Keeping Your Secret ID Codes and Card Number Confidential

    • You must keep your Secret ID Code and Card number confidential. They must only be used in connection with services you are certain come from us (or our subsidiaries or authorized service providers), including BMO Digital Banking and Telephone Banking Services, and our account and information aggregation or consolidation services.
    • You must not keep any record of a Secret ID Code in close proximity to, or with, any Card at any time. When selecting your own Secret ID Code, do not use number combinations that can easily be guessed by someone else, such as your birth date, address, telephone number or other such information that is easy for other parties to obtain.
    • When inputting your Secret ID Code into an ATM, point-of-sale or debit card terminal, telephone or computer, or mobile device, you must take reasonable precautions, such as ensuring that no one is watching you by using your body or hand as a shield to conceal your Secret ID Code from the view of others.
    • We encourage you to be cautious of emails, text messages, web sites, online services, callers or other parties pretending to be Bank of Montreal (or a subsidiary) and which
      • ask for your Secret ID Code, Card number or other personal information; or
      • offer to bring together, summarize, aggregate or consolidate your financial data and other information that is currently available to you online, such as the balances and transactions history on your Accounts, credit cards, or trading and investment accounts. We caution you that there are many web sites offering account consolidation or aggregation services that are not related to us and that giving your Secret ID Code or Card number to these web sites may expose you to losses from an Account or theft of your personal information for which we will not be responsible. Only trust our genuine web site or telephone system and operators.
    • Some mobile devices allow you to use biometrics like fingerprints, facial recognition or , retina scan, (any type of "Biometric Recognition") to unlock your device and assign the same recognition feature to applications like BMO Digital Banking. Because Biometric Recognition may be assigned to the device and not to each individual user or application, you should not use Biometric Recognition as your Secret ID Code if you share your mobile device with anyone else.
    
    

13. Your Reporting Obligations

    You must notify us as soon as you become aware of learning of any of the following:
    (i) the loss, theft or misuse of your Card;
    (ii) that your Secret ID Code was disclosed to, or obtained by, anyone else or may be known by anyone else;
    (iii) that unauthorized use of Electronic Banking Services may be occurring;
    (iv) the loss, theft, or misuse of a mobile device that you registered with us for Electronic Banking Services; or
    (v) a situation where you have been the victim of fraud, theft, trickery, including (but not limited to) phishing, vishing and smishing, force or intimidation.

    
    

14. Your Liability

    (i) Authorized Electronic Transactions
    
    You are responsible for the full amount of all authorized activity resulting from the use of your Account or Secret ID Code by any person. Careless handling of your Card or mobile device that you registered with us for Electronic Banking Services, or Secret ID Code can result in serious financial losses.

    (ii) Unauthorized Electronic Transactions
    

    • Under BMO Digital Banking Security Guarantee, you will not be liable for any losses from the unauthorized use of your Account, Card (including contactless or PIN-less payments), or Electronic Banking Services due to circumstances beyond your control. These are situations where you could not have prevented, and did not contribute to, the unauthorized use of your Account. Such circumstances include any errors we made, technical problems or system malfunctions. You may be liable for all losses from unauthorized use of your Account if you:
      • (i) contributed to its unauthorized use;
      • (ii) disclose your Secret ID Code, Card number or other personal information to any other person, including, without limitation, any person pretending to be Bank of Montreal; or any Third-Party Aggregator;
      • (iii) used a PIN combination selected from your name, telephone number, date of birth, address, or Social Insurance Number;
      • (iv) did not use reasonable care to safeguard your Secret ID Code;
      • (v) did not keep your Secret ID Code separate from your Card;
      • (vi) did not comply with your reporting obligations in Section 13 of this Agreement unless there were exceptional circumstances for your failure to do so; or
      • (vii) shared a mobile device that you registered with us for Electronic Banking Services.
    • In those cases, your liability may exceed the funds in an Account, your credit limit or any daily transaction limits. In other words, your liability will not be limited by your Account balance, your credit limit or any daily transaction limits.
    • You must cooperate and assist in any investigation that we initiate into the unauthorized use you reported to us. This cooperation may include filing a report with law enforcement authorities or providing proof of a malicious attack on impacted devices.
    (iii) Alerts
    

    • You accept the risk that an Alert may be delayed, inaccurate, not delivered, lost, intercepted, reviewed or altered or deleted by a third party.
    • You agree that an Alert does not constitute a bank record for an Account. You are responsible for monitoring all Account activity and ensuring you have sufficient funds for any Debit Transaction.
    (iv) Verification Codes
    

    • You acknowledge that we will never provide you with or ask you for a Verification Code when making an unsolicited phone call. Furthermore, you agree that you will never provide a caller with a Verification Code if you receive an unsolicited call claiming to be from BMO and/ or the person is claiming to be an employee of Bank of Montreal.
    • If you receive an unsolicited call, voicemail, email or text message from someone claiming to be from BMO asking for a Verification Code, you must notify us immediately.

    (v) Compliance With Section 13
    
    You will not be liable for losses that occur after you have complied with your reporting obligations in Section 13 of this Agreement.

    
    

15. Limitation of Our Liability

    • We will not be responsible or liable for any delay, damage, loss or inconvenience you or any other person may incur or experience if any of the following occur:
      (i) you are unable to access Electronic Banking Services in the event of any malfunction;
      (ii) we do not receive your instructions;
      (iii) there is any delay in the processing of any Electronic Transaction;
      (iv) we decline to act on your instructions;
      (v) your use or reliance on information contained in or omitted from any Alert sent to you; or
      (vi) any Alert is delayed, inaccurate, not delivered, or lost, intercepted, reviewed, altered or deleted by a third party.
    • We will not be responsible or liable for the release of any information about you before you notify us in accordance with Section 13 of this Agreement of the theft or loss of your Card or a mobile device that you registered with us for Electronic Banking Services, or if the confidentiality of your Card number or Secret ID Code is compromised.
    • We will not be responsible or liable for any loss or damages you may incur in using any software or assistance from third parties that we may make available to you.
    
    

16. Contactless Payments

    Some Cards may allow you to make contactless or PIN-less transactions in Canada, by tapping your Card where contactless payments, such as Interac Flash^®§ are accepted. Per-transaction and cumulative limits apply. Upon request, this feature can be deactivated.

    You may also use a digital wallet on your mobile device to make contactless or PIN-less transactions in Canada with some Cards. Per-transaction and cumulative limits also apply. You can remove this feature by removing the Card from your mobile device. Terms of use governing your use of a digital wallet can be found at bmo.com/digitalwalletterms.

    
    

17. BMO Mobile Cheque Deposit

    • Eligible Items: You may use this service to take an image of original paper items such as cheques, certified cheques, money orders and bank drafts issued by a Canadian financial institution or provincial, territorial or federal government, in Canadian dollars, that are payable to you, to deposit those items to your designated Account.
    • Using This Service: To use this service, you must have, at your own expense, access to the Internet, a compatible smartphone or device, hardware, operating systems and software, and which have not been altered from manufacturer specifications. You must download the version of the BMO Mobile Banking App appropriate for your smartphone or device. We are not responsible for hardware, operating systems and software needed to operate the service. We may make changes to the service without notice to you including discontinuing your access to this service, and these changes may result in your smartphone or device, hardware, operating systems and software no longer being compatible with the service. You agree to use the service only to deposit eligible items, while you are physically located in Canada, and only through cellular or Wi-Fi networks in Canada.
      
      If you are depositing the item to a joint account, you may only use the service if the item is payable to you and/or your joint account holder and the account is not an all to sign deposit account.
      
      You agree to not use the service to deposit any item that is prohibited by this Agreement or in violation of any applicable law or rule, including any item that:
      (i) is payable to someone else and endorsed over to you
      (ii) has already been deposited
      (iii) contains an alteration, or which you know or suspect, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the item is drawn
      (iv) is postdated or dated more than six months prior to the date of deposit
      (v) is subject to a stop payment order
      (vi) is from an account that has insufficient funds
      (vii) has any restrictive endorsement or any other endorsement that is not in accordance with these terms and conditions.
      
      You agree to take all necessary precautions to prevent any other person from using the service to deposit items to your Account and to comply with these terms and conditions, all applicable rules, laws, and regulations and provide any further documentation which we may reasonably request.
    • Procedures: For each eligible item, you must provide a legible image of the front and of the back of the original item, and not an image of a photocopy, PDF or other printout. The images must correspond to the original, comply with the Canadian Payments Association Rule A10 or other applicable laws and any standards we establish, and include, at a minimum the:
      (i) date
      (ii) name of the payee and drawee institution
      (iii) amount in words and figures
      (iv) drawer's signature and magnetic ink character recognition (MICR) information (which typically appears on the cheque).
      
      You agree you will retain the original item in a secure place for 14 calendar days following the deposit date and promptly send it to us upon request, and destroy the item promptly after the 14 day period and no later than 120 calendar days after the deposit date.
      
      You agree that when you transmit images of an eligible item to us, you are acting as our agent and that you will not delegate this role to anyone else, and each image we accept for the purpose of clearing and settlement of the item under the applicable Canadian Payments Association rules will be treated as an eligible bill under the Bills of Exchange Act. All requirements applicable to the deposit of an original item and the terms of this Agreement and any other agreement regarding your Account, including the Cheque Hold Policy, apply to eligible items deposited with this service and the eligible items will be treated as if the original item had been deposited at a Canadian branch or ATM.
      
      We may also impose limits on the dollar amount of items and/or number of items which can be deposited. If you attempt to make a deposit in excess of these limits, we may reject your deposit.
      
      
    • Deposit Date: If we receive the images on or before 11:59 p.m. Eastern Time (ET) on a business day, we will consider that day to be the deposit date. If we receive the images after 11:59 p.m. ET, on a weekend, or a statutory holiday observed by your branch of account, the next business day will be considered the deposit date.
    • Fees and Charges: When you use the service, no charges apply to deposit items into a personal deposit account.
    • Rejected and Returned Items: You agree that we may reject any item deposited using the service at our discretion. For example, an item may be rejected by us if we determine it was not eligible for deposit or may be returned by another financial institution due to poor image quality, insufficient funds, alteration or other reason for which the item may not be processed. We may recover applicable funds from you or reverse the credit made to your Account. Any credit made to your Account will be subject to the final payment of the item and subject to the terms of the Agreement. If the deposit amount does not match the amount of the image, we may adjust your Account to reflect the amount on the image received.

      You agree that we are not liable for any damages resulting from a rejected or returned item, the delayed or improper crediting of an item or inaccurate information you provide us regarding an item. You agree to be responsible for any costs relating to obtaining a replacement item in the event we require you to re-transmit images or provide a replacement item. We are not responsible for images that we do not receive.

      
      

18. BMO Global Money Transfer

    • Introduction: BMO Global Money Transfer Agreement (“Agreement”) applies when you send an international bank to bank funds transfer known as BMO Global Money Transfer (“BMO GMT”).
    • Recipient Information: When you send any BMO GMT, we or an Intermediary (defined below) may ask you to provide information about the BMO GMT and we may require additional information from you to process the BMO GMT. You are responsible for providing correct information relating to the Recipient and the financial institution you have indicated where the Recipient should receive the BMO GMT deposit (the “Recipient Bank”). We nor any Intermediary are responsible for confirming or verifying the accuracy and completeness of any information you provide. We and the Recipient Bank may rely solely on the account number that you provided to complete the BMO GMT. “Intermediary” means any person or persons receiving or handling funds for us or the Recipient including but not limited to other financial institutions (including the Recipient Bank), payment or clearing networks and their respective agents and service providers.
    • Making a BMO GMT request and Timing of Receipt: BMO GMT is available through self-serve, digital banking channels, such as Online Banking and Mobile Banking. You can send a BMO GMT from a BMO Canadian dollar bank account to any country and currency that we may offer through the Service. You can select a BMO U.S. dollar bank account when you send a BMO GMT to a Recipient to the United States only. When you initiate a request for a BMO GMT, we will immediately withdraw the amount of the BMO GMT from your BMO Bank Account (“Account”) and request the Recipient Bank to pay this amount to the Recipient at the Recipient Bank. The Recipient receives funds into their account within two to five business days. However, we make no representations or warranties on the timing of delivery of the BMO GMT to the Recipient as this is determined by the policies, procedures and services of Intermediary and the Recipient Bank.
    • Fees and Interest: You agree to pay us a service fee when you send a BMO GMT which is non-refundable unless the BMO GMT is rejected or returned. Fees may change from time to time at our sole discretion with advance notice. Some BMO Everyday Bank Plans may include this service at no additional charge. For information on BMO GMT fees please refer to the Agreements, Bank Plans and Fees for Everyday Banking booklet. Additional fees and/or taxes may be deducted from the BMO GMT amount by Intermediary or the Recipient Bank. This is reflected in the price we quote for the Requested Currency of the BMO GMT you request and whenever we apply our rates of exchanges in accordance with this Agreement. No interest is earned by you or paid by us on funds in transit in connection with the BMO GMT.
    • Foreign Exchange: If you request that the amount of BMO GMT be made in a currency other than that of your Account (the “Requested Currency”), we will convert the funds into the Requested Currency. The rate of exchange will be our rate, established at the time the funds are converted. Our rates of exchange are subject to change at any time without any advance notice. We make no representations or warranties that the BMO GMT will be received by the Recipient in the Requested Currency. You accept all risk of all fluctuation of exchange rates between the date we accept your BMO GMT request and the date of payment to the Recipient or date of refund to you. If payment cannot be made for any reason in the Requested Currency, you authorize payment in the currency of the place of payment at either the relevant Intermediary’s or Recipient Bank’s spot rate of exchange for its sale of currency of the place of payment in exchange for the Requested Currency (such exchange, a “Local FX Conversion Transaction”). We may earn income from the difference between the prices we bid to buy and offer to sell foreign currency (the “spread”). The spread may differ from time to time across currencies. The spread can increase or decrease without any prior notice. The spread is reflected in the price we quote for the Requested Currency of the BMO GMT you request. The price of any Local FX Conversion Transaction may also include a foreign conversion fee charged by the relevant Intermediary or Recipient Bank. You agree that any fees charged by the relevant Intermediary or Recipient Bank may be deducted from the amount of the BMO GMT sent and the funds deposited into the Recipient’s bank account.
    • Intermediaries: We may engage Intermediaries selected in our sole, unfettered and complete discretion to provide you with the Service. We shall not be liable to you for any such selection made by us, the Recipient, or another Intermediary.
    • No Cancellation or Change to a BMO GMT: Once you request us to send the BMO GMT and the funds and fees have been withdrawn from your Account, your request to send the BMO GMT may not be cancelled or changed.
    • Declined, Unclaimed, or Incomplete BMO GMT: If the BMO GMT is declined or unclaimed by the Recipient, or is not completed, we shall use our best efforts to attempt to obtain a refund at your request from the Recipient Bank. If all or some of the BMO GMT funds are returned, we will convert the funds from the Requested Currency to the currency of your Account. If there is a difference in the Requested Currency foreign currency exchange rate between the rate you were provided when you sent the BMO GMT and the rate when we credited your Account, we will only credit you the difference if it results in a loss to you. We will not pay you the difference if it results in an overage or credit. We are not liable to refund you any amount that was not refunded to us.
    • Governing Law: This Agreement will be governed by and interpreted in accordance with Canadian federal law and the laws of the province or territory in which you live or, if you do not live in Canada, the applicable laws of the province of Ontario. You agree to submit to and be bound by these laws and the courts of that province or territory in the event of any disputes arising in connection with the Service or this Agreement.
    • Settlement Rules and Applicable Laws: You agree that your request to send a BMO GMT and our ability to complete it will be subject to Settlement Rules and Applicable Laws and that we and/or any Intermediaries may take any steps they consider necessary to comply with the Settlement Rules or Applicable Laws. “Applicable Laws” means laws, regulations, orders, guidelines or directives of foreign or domestic governmental authorities or regulatory bodies that apply to us or Intermediaries, whether or not these have the force of law. “Settlement Rules” means the rules, procedures, internal policies, standards or bylaws used by Intermediaries or us, or to which Intermediaries or we may be subject.
    • Consent to Disclosure: In order to comply with the Settlement Rules or Applicable Laws, we or any Intermediary may disclose any information about you and the Recipient to an Intermediary or to a foreign or domestic government authority or regulatory body. On behalf of you and the Recipient, you (i) consent to such disclosure, and (ii) acknowledge that the confidential information may be accessed by foreign or domestic authorities or regulatory bodies as a result. You confirm that you have the authority to make such consent and acknowledgements on behalf of the Recipient.
    • Important Service Restrictions:
      • General: You acknowledge that the Service may not be available, in whole or in part, in certain regions, countries, or jurisdictions. We are not obliged to process any particular transaction. When you request to send a BMO GMT, we may, in our sole and unfettered discretion, choose whether or not to accept your request to send the BMO GMT. If we decide not to process the BMO GMT, we will notify you and repay to you the BMO GMT amount and any fees that we charged and collected from you. If you successfully request to send the same BMO GMT that we previously decided not to process, you are solely responsible for any loss related to a difference in foreign currency exchange rates.
      • Cancelling/Suspending the Service: We may suspend or cancel your ability to use the Service or decline to complete the BMO GMT for any reason without notifying you in advance.
      • Third Party: A third party (including an Intermediary and Recipient Bank) may set limits on the BMO GMT, including the amount of money you are allowed to send, the amount of money the Recipient is allowed to receive or the currency in which the funds are received when you send the BMO GMT.
      • Person-to-Person transactions: You are only permitted to use this Service for person-to-person payments. You should only use the Service to send money to people that you know. We are not responsible for, the quality or delivery of goods or services that you pay for using the Service. You accept that using the Service to pay for goods and services is at your own risk. Using this Service as a method of payment for commercial transactions is prohibited. For greater certainly, the use of this Service is not permitted for payments by and to anyone that is not a natural person.
      • Acting on Your Own Behalf: You and the Recipient will only act on your own behalf. You may not request to send a BMO GMT on behalf of a third person.
      • Unauthorized Transactions: You may not use the Service in violation of this Agreement or applicable laws, rules or regulations. If we become aware that you use the Service in connection with illegal conduct, we may report you to law enforcement.
      • Restricted Activities: In connection with your use of the Service, or in the course of your interactions with us, a user or a third party, you will not:
        
        
        • (i)Breach this Agreement, or any other agreement between you and us;
        
        
        • (ii)Provide false, inaccurate, or misleading information; and
        
        
        • (iii)Use any automatic device, or manual process to monitor or copy our website.
        
        
    • Changes/Termination: We may change any of the terms of this Agreement, and/or Service features or terminate this Agreement for any reason at any time with or without advance notice. By using this Service, you agree that you have read and agree to be bound by the most current version of this Agreement and replace all other versions you have with us.
    • Waiver: Our failure to exercise or delay in exercising any rights does not waive any default or prevent us from enforcing those rights later.
    • Severability: If any provision of this Agreement is found to be invalid or unenforceable, this will not affect the validity of enforceability of the other provisions of this Agreement.
    • Conflict: If there is a conflict between a term in this and any other agreement(s) you have with us, the terms of this Agreement will apply to the extent necessary to resolve the conflict.
    
    

19. We May Charge for Services

    We may charge fees for Electronic Banking Services and Electronic Transactions. Please see the fee schedules entitled “Bank Plan Features and Fees”, “How to get No Monthly Plan Fee and Discounted Banking”, “Pay-per-use Fees”, “Additional Services and Fees” and “Bank Accounts and Plans No Longer Offered” found in the front of the Agreements, Bank Plans and Fees for Everyday Banking booklet for more information and current charges. These fees form part of the Electronic Banking and Services Agreement. We may change fees from time to time. Up-to-date information on charges is available at all Canadian branches and online at bmo.com/agreements.

    
    

20. Return of your Card; Non-Transferability

    Your Card is our property; it is non-transferable, and you agree to return it to us immediately upon our request.

    
    

21. We May Set Limits or Change this Agreement

    • We may set or change any limits (including dollar amounts) on the use of your Account at any time.
    • We may change or end this Agreement or the service terms, or services at any time. You agree to any changes made when notice is given in our Canadian branches or in any other manner, which we may determine from time to time.
    
    

22. Records and Dispute Resolution

    • Our records will be conclusive evidence of your communications to us and of your Electronic Transactions. We may record your communications with us.
    • Any transaction record you receive, or any transaction confirmation number supplied, is meant only to help you with your record keeping. We will be pleased to review our records if you disagree with their accuracy.
    • We will not be responsible for the quality of goods or services that you obtained using Electronic Banking Services. You will settle any issues directly with the vendor involved.
    • If you have a dispute with a biller concerning bill payments made using Electronic Banking Services, including the imposition of any additional charges such as late fees or interest penalties, you will settle the dispute directly with the biller.
    
    

23. Other Agreements and Laws May Apply

    • This Agreement does not replace any other agreement relating to your Accounts.
    • When you install, use or travel with any software from other companies we may make available to you in connection with any Electronic Banking Services, it is solely your responsibility to comply with the provisions of any agreements, licenses and other legal or technical documentation provided by such other companies in connection with the software, and with the legal requirements of any relevant jurisdiction. Unless you are a lawful, licensed user of such software, we may be unable to provide you with the Electronic Banking Services that require such software.
    
    

24. We May Obtain Personal and Credit Information

    • If you apply for a loan, other lending product, or credit (including a credit card) using Electronic Banking Services, you will be required to consent to us obtaining, providing or exchanging information with:
      (i) any credit reporting agency;
      (ii) personal information agent;
      (iii) other credit grantor;
      (iv) your employer; or
      (v) any other reference you provide to us.
    • such information about you as we may require from time to time, to process your application and provide the loan, other lending product, or credit you requested.

    To learn more about how we collect, use, disclose and safeguard your Personal Information, your choices, and the rights you have, please see our Privacy Code.