Tag: banking

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Mobile Syrup

BMO offers a new way for customers to send money across the world

Cambridge, On, Canada- September 27, 2020: Close up of BMO (Bank of Montreal) sign with blue sky in background in Cambridge, Ontario, Canada. BMO is a Canadian bank and financial services company.

The Bank of Montreal has launched a new service called BMO Global Money Transfer to allow customers to send money abroad.

The feature is available on the bank’s mobile app and each international transaction is priced with a $5 service fee. This fee is waived for customers until January 31, 2022. Bank accounts catering to Canadian newcomers, BMO Premium and Private Banking customers, will continue the service for free past the deadline.

Numerous functions, such as a currency watchlist and the ability to set up recurring transactions, are available.

“With most of our customers being digitally active, we’re excited to offer a convenient new feature to send money internationally through the BMO mobile banking app,” Gayle Ramsay, head of everyday banking at BMO, said in a press release.

“Being able to easily reach loved ones overseas is important to helping our customers make real financial progress, especially during the holiday season. BMO is committed to meeting customers where they are and providing convenient digital solutions to meet their everyday banking needs.”

The new service is building on the financial organization’s promise to digitalize the customer experience. It has partaken in several past initiatives, including letting customers take selfies to verify new bank accounts, as part of the promise.

Image source: ShutterStock

Source: BMO

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Mobile Syrup

TD brings low balance prediction and more to its mobile banking app

TD has plans to enhance its mobile banking app with new features.

The Canadian banking company is introducing new digital insights in the TD app that are designed to prompt customers with a new set of guided self-serve options based on their transaction history.

Now when a customer completes a third-party international remittance transfer, they’ll be prompted with an option to securely send money through TD Global Transfer directly from the user’s TD account within the TD app.

TD says that its customers will receive targeted information through the TD app, informing them that a new TD Access Card is on the way when their card has expired. The report will detail how to activate the access card and other card features, how the card can be used to make online or in-app purchases, and how to pay recurring bills.

The app also now offers low balance prediction to alert customers that are likely to get a low balance in the next two weeks. Additionally, TD says it’s adding upcoming transaction insight to provide a list of upcoming bills in the next two weeks based on recurring transactions.

TD says it’s focused on delivering a connected experience across its platform. In 2022, TD expects to have more than 30 live use digital insights designed to offer a proactive a guided customer experience in the mobile app.

TD’s mobile app is available on Android and iOS.

Source: TD