Account Features and Account Inquiries

How do I transfer funds from my BMO InvestorLine investment (non-registered) account to my BMO Bank of Montreal bank account?

When is my account information that I see online updated?
Your online account information online is updated after market closes in the early morning hours of the next business day. Generally, your account information is updated by 8:00 a.m. to reflect last business day's activity.

I placed a mutual fund order online yesterday, why do I not see the transaction in my account today?
Certain mutual fund orders require manual processing; hence there may be a delay of an additional business day (or two) before mutual fund transactions are posted to clients' accounts.

As well, be aware of our mutual fund order cut-off times. You can obtain order cut-off times by signing into your account section of this website or through your BMO InvestorLine representative. If your order was received by BMO InvestorLine after our cut-off times, your order may be executed the next business day.

How can I access the cash in my BMO InvestorLine investment (non-registered) account?
If you have opened a Cash or Margin account with us, we have automatically included AccountLink® Service as part of your account features. AccountLink Service consolidates your financial requirements into one easy-to-manage package. AccountLink is a service that we include for all non-registered accounts. It wraps the convenience of a BMO Bank of Montreal chequing account in with your BMO InvestorLine securities account.

You access your cash the same way you would with a regular BMO Bank of Montreal chequing account. You can:

• write cheques
• deposit or withdraw from any BMO Bank of Montreal Instabank^® Automated Banking Machine (ABM) across Canada
• withdraw funds from any ABM on the INTERAC^®* network in Canada or through an ABM on the Cirrus^®* network in the U.S. and around the world
• make point-of-sale purchases using the INTERAC Direct Payment Service (debit card transactions).

I'm already a BMO Bank of Montreal customer, do I need a special bank card to use AccountLink Service?
AccountLink Service can be linked to your BMO Bank of Montreal FirstBank^® Card, just like your other BMO Bank of Montreal accounts. By linking your AccountLink Service to your FirstBank Card, you can enjoy the many services offered through BMO Bank of Montreal including:

• self-serve banking via Online Service or Telephone Banking Service
• access to BMO Bank of Montreal Instabank Automated Banking Machines (ABM) across Canada
• access to ABMs on both the INTERAC network in Canada and the Cirrus network in the U.S. and around the world
• point-of-sale purchases using the INTERAC Direct Payment Service (debit card transactions).

If you don't have a FirstBank Card, you can either contact your BMO Bank of Montreal branch to have one issued, or we can issue you an AccountLink Service Card. The choice is yours.

How do I transfer funds from my BMO InvestorLine investment (non-registered) account to my BMO Bank of Montreal bank account?
If you already use BMO Bank of Montreal's Online Service, or Telephone Banking Service and you have added your AccountLink account number to your FirstBank Card, then you can use Online Banking, Telephone Banking or BMO Bank of Montreal Instabank Automated Banking Machines (ABM) to transfer funds.

As well, you can call a BMO InvestorLine representative or visit your nearest BMO Bank of Montreal branch.

Can I access my U.S. funds in my U.S. AccountLink account from an ABM?
No. To withdraw funds in U.S. dollars from your U.S. Dollar AccountLink account, please drop by the BMO Bank of Montreal branch nearest you.

What is the interest paid on my cash balances?
BMO InvestorLine offers competitive rates. Please visit our Rates page for more details.

Are there any administration fees to open an account?
For registered accounts such as an RRSP or Spouse/common-law RRSP, there is an annual administration fee of $100 for plans with assets less than $25,000. This administration fee is waived for plans with more than $25,000. This fee is waived until December 31 in the year when the account is open.

A $25 CDN fee will be charged each quarter on non-registered accounts with an account
balance of less than $10,000. Taxes may apply.

Fee is waived for:

• Clients who hold a RSP (including RRIF, LIRA, LIF, LRIF) with BMO InvestorLine and for clients that make 2 or more "commissionable trades" in 6 months.

Fee exempt accounts:

• Informal Trusts
• Accounts open for less than 180 days

How fee is assessed:

• Fee is charged when “average household account balance” at the close of business on the last day of the calendar quarter is less than $10,000.
• “Average household account balance” refers to averaging the account equity of all accounts at the same address and excludes accounts that are fee exempt.

Is there a minimum amount needed to open a BMO InvestorLine Account?
The minimum amount needed to open a BMO InvestorLine account is $5,000. Your initial balance can be a deposit, transfer, or a combination.

Is there a cost to using the AccountLink service?
Each month you are entitled to two free cheques, withdrawals or transfers at a BMO Bank of Montreal branch or Instabank Automated Banking Machines (ABM), or INTERAC Direct Payment Service transactions. Thereafter, regular BMO Bank of Montreal banking fees apply. For more information, please contact us.

What is a margin account?
A line of credit is available for clients who wish to buy securities without paying for them in full. The term "margin" refers to the portion of funds you must provide, which, together with the line of credit loan, is used to make the purchase.

To buy on margin is to borrow money from BMO InvestorLine to purchase securities. The loan is secured by the value of the assets in your portfolio. All accounts are monitored daily to ensure sufficient margin levels are maintained at all times. If the price of a margined security falls to the point where the account becomes under-margined, BMO InvestorLine will call you and request that you either:

• deposit funds or marginable securities to your BMO InvestorLine account to cover the shortfall; or
• provide instructions as to which securities to sell.

Margin accounts are only available as non-registered accounts. You may apply for margin account privileges by completing a new account application. Margin accounts must be approved by BMO InvestorLine and a credit check must be conducted.

What is the interest charged on my debit balances in my margin account?
BMO InvestorLine offers lines of credit in Canadian and US Dollars at very competitive interest rates. Please view our current rates on our Interest Rates page or contact us for further information.

How is interest calculated and when is it paid or charged to my BMO InvestorLine account?
Interest is calculated on the average monthly credit and/or debit balance in your BMO InvestorLine account during the period from the 22^nd day of the previous month through to and including the 21^st day of the current month, and is posted to your account and compounded monthly.

How do I transfer an account from another broker to BMO InvestorLine? How long does it take?
To transfer an account from another broker to BMO InvestorLine, simply complete an Authorization to Transfer Account form. You can call BMO InvestorLine and we will send you the form. This form is also a part of our Application Form that you can download online from our site. Once the completed transfer form is received at BMO InvestorLine, we will arrange the transfer of all designated securities and cash from the other firm. Please note that transfers can take from two to six weeks to process.

How do I deposit securities to my BMO InvestorLine account?
Simply present the certificates to the BMO Bank of Montreal branch nearest you. You will be asked to endorse the certificates exactly as registered on the front of the certificate. You will be provided with a receipt and your securities will be forwarded to BMO InvestorLine and deposited into your account. Please note that there may be a delivery charge for courier costs.

You can also send in your endorsed certificates directly to BMO InvestorLine by courier. Once the certificate(s) are deposited in your BMO InvestorLine account, these holdings will appear in your account information which can be accessed through this web site, as well as on your monthly statements.

I noticed an error in my account, who should I call?
If the error is trade-related, please contact a BMO InvestorLine representative so that we can resolve your concerns immediately.