Important updates for BMO High Interest Savings Accounts

Starting February 1, 2021, we will be introducing two new High Interest Savings Accounts (HISAs) - BMO Mortgage Corp and BMO Trust Co - offering the same security, flexibility and competitive interest rate as the existing BMO HISA. In addition, we will be introducing enhancements that will apply to our new and existing HISA products.

Changes and improvements to our HISA features on February 1

• The BMO HISAs will have a new fund code (BMT).
• The number of days in the monthly interest period will be equal to the number of calendar days in the month, simplifying the interest calculation.
• The interest on the account will be paid monthly on the last calendar day (instead of the last business day) of the month.

HISAs trading limitations for January 29 - February 1, 2021

As part of this introduction of the new HISAs, the fund code of the existing BMO HISA will change from AAT to BMT. To support this change, there will be temporary limitations to HISA trading.

• January 29, 4:00 p.m. EST: BMO HISA buys, sells and switches will be unavailable.
• February 1, 8:00 a.m. EST: Only buys of BMO HISA products will be available. Sells or switches will not be available.
• February 2, 8:00 a.m. EST: BMO HISA buys and sells will be available again; switches will become available April 2021.

Things to consider

If you anticipate needing funds from your HISA on Tuesday, February 2, to either cover a trade or for other purposes, you will need to complete your trade before 4:00 p.m. EST on Friday, January 29. This will ensure that the funds are available on Monday, February 1, for your investing needs.

There will be no sells of HISA products available starting 4:00 p.m. EST on Friday, January 29 until 8:00 a.m. EST on Tuesday, February 2. Any sales of HISA products made on Tuesday, February 2, will make funds available on Wednesday, February 3, in accordance with our normal trading practices.