I had an auto loan through BMO when I bought my new car from the dealarship. The frist month I wanted to pay extra on the principal so I paid $100 more than the payment. When I looked later they didn't apply the extra to the principal but to the next payment (so they get more interest). I called and complained and they fixed it and said I would have to send in 2 checks, 1 for the regular payment and another for the extra with a letter asking for the additional to be applied directly to the principal.
I did this and sure enough, they applied it to the next payment again. This went on for 4 months before I said enough is enough and refinanced through my local bank. Now BMO wont send my local bank the letter of termination for the loan I had through them and it has been almost 2 months. We are still waiting for the letter so I can get a refund on the GAP insurance I bought through the dealarship and so my local bank can finish paperwork and send the title to the Secratary of State Office.
Long story Short: This bank is absolutely horrible at doing the basic requirements and fulfilling their obligations. I would not go through this bank unless you have no other options.
I just opened a business account with this bank and it all started from there. First they send me a card with my last name spelled wrong (is it that hard to make sure everything is correct? ). Second every time i called to activate (after entering all the numbers a million times and than hearing that it was entered incorrect) i got connected to an agent and every agent was looking at a different system with different information. One does have my phone number, one tells me i can choose my own pin, another agent tells me i can not because it has been mailed already and etc. Horrible horrible bank, careless work, and the job is never done to your satisfaction
I had my account hacked and reached out to them asap. They did nothing to help me. In fact, while on the phone with the 800 number she told me that they were going to send out new cards anyway because of a security issue. This was the first i had heard. Chase, pnc etc, all keep an eye on their customers accounts and if there is any out of the ordinary activity they reach out asap. They also told me it could take 10 days to return my money. I've been with them since 98 and have decided it's time for a new bank!