Comments on: BMO – Line of Credit http://www.penciltrick.com/index.php/service-based/bmo-line-of-credit/ Fighting the trained monkey in modern society. Mon, 06 Feb 2012 14:41:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dan C http://www.penciltrick.com/index.php/service-based/bmo-line-of-credit/comment-page-1/#comment-162813 Dan C Mon, 28 Nov 2011 17:38:44 +0000 http://www.penciltrick.com/?p=220#comment-162813 Incompetence, arrogance, lies and boarder line criminal. By covenant of mortgage BMO is obligated to pay my property taxes and for the past 3 years they have consistently paid late and passed on the penalties and interest charges for me to pay. Three charges under the criminal code apply (332: missapropriation of money held under direction) (330: theft by person required to account) or (336: criminal breach of trust) not to mention that they demanded I do the audit as they did not believe that they were responsible. They did reimburse me for the actual amounts (in excess of $1400) for penalties and interest but they refuse to pay the interest I would have received if the monies were in the account and refuse the bill I sent for the audit. Off to court in the New Year! Now they want me to close an account I have had for 18 years because I have an old account that incurs no service fees and have given be 30 days to get my affairs in order. I will have to print up 5 years of epost, and change all of my online billers. Thanks Guys! As for their lending policies, I would understand if they were offering super competitive interest rates but they don’t. Or maybe if one was of a nature that there was an issue of risk management. I have a whack of real estate equity, a very successful business, a great accountant and do everything by the book and they still give me nothing but a hard time with my financing. It’s time to take this show on the road, maybe a credit union or private institution not considered a chartered bank. These big boys need to grow up and act like real men. (Not to insult the many successful women in the industry). I could go on ranting as this is just the tip of the iceberg, and the big green is not much better. Incompetence, arrogance, lies and boarder line criminal.
By covenant of mortgage BMO is obligated to pay my property taxes and for the past 3 years they have consistently paid late and passed on the penalties and interest charges for me to pay. Three charges under the criminal code apply (332: missapropriation of money held under direction) (330: theft by person required to account) or (336: criminal breach of trust) not to mention that they demanded I do the audit as they did not believe that they were responsible. They did reimburse me for the actual amounts (in excess of $1400) for penalties and interest but they refuse to pay the interest I would have received if the monies were in the account and refuse the bill I sent for the audit. Off to court in the New Year!
Now they want me to close an account I have had for 18 years because I have an old account that incurs no service fees and have given be 30 days to get my affairs in order. I will have to print up 5 years of epost, and change all of my online billers. Thanks Guys!
As for their lending policies, I would understand if they were offering super competitive interest rates but they don’t. Or maybe if one was of a nature that there was an issue of risk management. I have a whack of real estate equity, a very successful business, a great accountant and do everything by the book and they still give me nothing but a hard time with my financing.
It’s time to take this show on the road, maybe a credit union or private institution not considered a chartered bank. These big boys need to grow up and act like real men. (Not to insult the many successful women in the industry). I could go on ranting as this is just the tip of the iceberg, and the big green is not much better.

]]> By: S http://www.penciltrick.com/index.php/service-based/bmo-line-of-credit/comment-page-1/#comment-132771 S Thu, 25 Aug 2011 03:30:18 +0000 http://www.penciltrick.com/?p=220#comment-132771 There are thousands of shareholders, stakeholders, employees who earn their living off BMO. I worked for BMO and there were d*K heads who would come in to the branch to tell me that they were putting my kids through school. I want to ask each one of you..dont you leave your house every single day to earn money? Secondly, It just made me laugh when people compare BMO to PC..are you effin kidding me? BMO was the first bank in Canada. If you would have moved your ass to a branch right from the get go..you would have saved yourself a hassle. Lastly, every bank has different lending policies. One might want to lend to you while another might deny. Its the way they do business. After all, they are lending the most important asset known to mankind.."MONEY" I worked as in commercial credit and to be really honest BMO is a conservative bank. While other competitors like the green bank will give five if you are alive. There are thousands of shareholders, stakeholders, employees who earn their living off BMO. I worked for BMO and there were d*K heads who would come in to the branch to tell me that they were putting my kids through school. I want to ask each one of you..dont you leave your house every single day to earn money?

Secondly, It just made me laugh when people compare BMO to PC..are you effin kidding me? BMO was the first bank in Canada. If you would have moved your ass to a branch right from the get go..you would have saved yourself a hassle.

Lastly, every bank has different lending policies. One might want to lend to you while another might deny. Its the way they do business. After all, they are lending the most important asset known to mankind..”MONEY” I worked as in commercial credit and to be really honest BMO is a conservative bank. While other competitors like the green bank will give five if you are alive.

]]> By: Mark http://www.penciltrick.com/index.php/service-based/bmo-line-of-credit/comment-page-1/#comment-91199 Mark Fri, 11 Mar 2011 01:35:01 +0000 http://www.penciltrick.com/?p=220#comment-91199 I have been a bank of montreal customer since 1991 & a business account holder since 1997. I think the bank of montreal is the worst bank any consumer or business owner could do business with! I have put millions of dollars and paid thousands in fees for the past 14 years, I was recently notified they were calling my line of credit and are now using legal methods to collect the debt! Bank of montreal has caused nothing but grief for myself and family, The economy is an issue "dummies" that's why sales drop! Vendors want to be paid up front stupid becuase you sent back my cheques when there were sufficient funds in my account stupid. And if you think you know how to operate a business you spineless idiot you should try it sometime, perhaps you might actually make it through one month all give you two before you screw up! No business owner should bank with them they do not support you the business owner! If anyone out there is going through the same issues I would like to hear from you. I have been a bank of montreal customer since 1991 & a business account holder since 1997.

I think the bank of montreal is the worst bank any consumer or business owner could do business with! I have put millions of dollars and paid thousands in fees for the past 14 years, I was recently notified they were calling my line of credit and are now using legal methods to collect the debt! Bank of montreal has caused nothing but grief for myself and family,

The economy is an issue “dummies” that’s why sales drop! Vendors want to be paid up front stupid becuase you sent back my cheques when there were sufficient funds in my account stupid. And if you think you know how to operate a business you spineless idiot you should try it sometime, perhaps you might actually make it through one month all give you two before you screw up!

No business owner should bank with them they do not support you the business owner! If anyone out there is going through the same issues I would like to hear from you.

]]> By: Danielle http://www.penciltrick.com/index.php/service-based/bmo-line-of-credit/comment-page-1/#comment-86637 Danielle Tue, 15 Feb 2011 22:25:02 +0000 http://www.penciltrick.com/?p=220#comment-86637 I had an issue with the line of credit process as well. I went through the online process and recieved a call the next day informing me that I was not able to recieve a line of credit from BMO. I called and asked why they told me that my credit rating was too low. I checked my credit and all looked sound. I went to the dealership the next day and I was financed with another bank no problem. And my credit score was much higher than BMO told me and high enough to have recieved a line of credit from BMO. I contacted the Branch Manager and expressed my concerns, he said he would call me back in a few days. Almost a month later I heard nothing and went to see him at the bank. He had no answers for me and no apology. I have now contacted the Cheif Executive Officer of BMO to express my concerns. I had an issue with the line of credit process as well. I went through the online process and recieved a call the next day informing me that I was not able to recieve a line of credit from BMO. I called and asked why they told me that my credit rating was too low. I checked my credit and all looked sound. I went to the dealership the next day and I was financed with another bank no problem. And my credit score was much higher than BMO told me and high enough to have recieved a line of credit from BMO.

I contacted the Branch Manager and expressed my concerns, he said he would call me back in a few days. Almost a month later I heard nothing and went to see him at the bank. He had no answers for me and no apology. I have now contacted the Cheif Executive Officer of BMO to express my concerns.

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