What is a debit card?
A debit card is a payment card that deducts money directly from a consumer's chequing account when it is used.
What is a savings account?
A savings account is used to save money and they generate interest.
What is the difference between a line of credit and a credit card?
All credit cards are lines of credit, but not all lines of credit are credit cards.
What is a chequing account?
Chequing accounts are meant for daily use. To pay for your monthly expenses, to receive deposits from your employer, your friends.
What is an overdraft?
A deficit in a bank account caused by drawing more money than the account holds.
What is a credit score?
A credit score is designed to represent your credit risk, or the likelihood you will pay on time.
What is a cheque?
It is a written order between two parties (person or organization)
What is the difference between payee and payor?
Payee is the person/ organization who receives the payment. | Payor: The person making the payment
What is a bank account?
A bank account is an arrangement with a bank that allows you to keep your money in the bank and to take some out when you need it.
What are the bank plans that BMO offers?
Premium, Performance, Air Miles, Plus, Practical