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Wednesday, 26 October 2011

Take your loose change to BMO

Take your loose change to BMO
This advice will apply to anyone that has a jar full of loose change sitting around their house. The Bank of Montreal (BMO) has equipped a number of their branches with fast coin counting machines. The thing that makes them different from the ones you see in grocery stores is that these BMO machines are free to use. You just dump your loose change in and it automatically sorts everything and prints out a receipt which can be redeemed at one of the tellers. You don’t have to be a BMO customer either which is nice and will bring in new people to their branches. I'm one of them as I bank with RBC primarily. According to BMO’s site the machine also takes US coins at par and can be dumped in along with your Canadian coins.

The one problem is that they seem to be located in only a few branches at the moment.
You can look up the exact locations and your own area here.
https://locator.bmo.com/Default.aspx?t=bb&lang=en

I’ve looked up quickly how many of these machines exist in some of the major cities.

Greater Vancouver = 3
Toronto = 5
Montreal = 2
Quebec City = 1

It's great to see a company put out a product that actually helps people for little or no cost. Another example is RBC's myFinanceTracker which I wrote about in my post My Expenses - First Checkup.

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