Today marks an important day for BMO Bank of Montreal and Sobeys Inc. as they announced the launch of two new online bank accounts that are designed to help shoppers save more and earn more grocery rewards. These accounts will allow consumers to stretch their dollar even further.
These new co-branded bank accounts will offer consumers a unique combination of benefits, which include:
- Quality service
- convenience and value
What are the new online bank accounts?
Clients will be able to save on paying monthly bank fees through the new No-Fee Chequing Account and also get their first set of cheques for free. The other new bank account is a High Interest Savings Account that offers a competitive interest rate of 1.3% on deposits.
Both of these new online bank accounts come with a debit card and several ways to accumulate Club Sobeys points or AIR MILES reward miles throughout the year.
Chris Goodale, Vice President, Loyalty, Customer Insight and Financial Services, Sobeys Inc. explained that with the combination of no fee, high interest earnings and faster reward points accumulation is a fresh idea that will help all customers save money on bank fees and groceries.
I cannot agree more with Chris; consumers will love these accounts, especially the No-Fee Chequing Account. The fact is, they can earn their reward points and not worry about any account fees involved with it.
Personally, saving accounts do not matter as much to me, although I do like the fact that you can earn reward points, not to mention you have a debit card linked to it, however I am more concerned with the fact that BMO and Sobeys are now offering a No-Fee Chequing Account.
That being said, you can all look forward to reading an updated Battle for Free Chequing article. I am pretty excited to write about it to be honest.
When you do sign up for either account, you earn 3,000 Club Sobeys Points; all you need to do is set up automatic bill payments and deposits within 90 days or your account being opened.
If you are interested in these new online bank accounts you need to keep in mind that depending on where you live in the country, the two accounts will go by different names according to the rewards program used in each region:
- BMO Club Sobeys Chequing and Savings Accounts (Ontario & Western Canada)
- BMO Sobeys AIR MILES Chequing and Savings Accounts (Atlantic Canada)
- BMO IGA AIR MILES Chequing and Savings Accounts (Quebec)