BMO Expands Digital Personal Banking Products that Aim to Support Financial Progress Nationwide

BMO 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.”

Paul Dilda, Head of U.S. Consumer Strategy at BMO, said:

“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. “

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.

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.”

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.

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