BMO Supporting Customers and Communities Impacted by Hurricane Milton

BMO has announced support for customers and communities impacted by Hurricane Milton.

Rhea-AI Summary

BMO has announced support for customers and communities impacted by Hurricane Milton. The bank is offering disaster relief options and financial assistance to affected customers. BMO supports the American Red Cross with an annual corporate donation for ongoing relief and resiliency work, including response to communities affected by the hurricane.

Financial relief for BMO personal banking customers includes waiving monthly maintenance fees, non-BMO ATM transaction fees, and overdraft fees. The bank is also extending payment due dates for mortgages, loans, and lines of credit, as well as offering reduced credit card payment amounts. Additionally, BMO is providing low-interest rate loans to qualified consumers in impacted areas within the BMO footprint.

Darrel Hackett, President & CEO of BMO Bank, expressed the bank's commitment to supporting customers, colleagues, and communities in recovering from the devastating storm. BMO encourages those wishing to support relief efforts to do so through organizations such as Direct Relief, United Way Suncoast, and the American Red Cross.

Positive

• Offering financial relief options to customers affected by Hurricane Milton
• Waiving various fees for personal banking customers in impacted areas
• Extending payment due dates for mortgages, loans, and lines of credit
• Providing low-interest rate loans to qualified consumers in affected regions

Negative

• None.

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CHICAGO, Oct. 11, 2024 /PRNewswire/ - BMO today announced its support for customers and communities impacted by Hurricane Milton. BMO supports the American Red Cross with an annual corporate donation for its ongoing relief and resiliency work which includes its response to affected communities following Hurricane Milton. The bank is also offering disaster relief options to support customers impacted by the events.

"Hurricane Milton has taken a heavy toll on Florida, and our thoughts are with everyone affected," said Darrel Hackett, President & CEO, BMO Bank. "We are fully committed to providing relief and support to help our customers, colleagues, and communities recover from this devastating storm."

Anyone wishing to support relief efforts can do so through these organizations:

• Hurricane Milton Relief | Direct Relief
• Disaster Recovery – United Way Suncoast
• Hurricane Relief Donations & Ways to Help | American Red Cross

Financial relief is also available for BMO personal banking customers who contact us and are impacted by this storm, including:

• Monthly maintenance fees, non-BMO ATM transaction fees, and overdraft fees will be waived.
• Payment due dates for mortgages, loans and lines or reduced credit card payment amounts will be extended.

BMO also offers low-interest rate loans to qualified consumers in the BMO footprint in impacted areas.

If you are a current BMO business loan customer and need assistance, please contact your banker.

More details on the financial relief available to customers can be found on BMO's website.

BMO has long supported humanitarian and emergency relief appeals in the U.S. and internationally to help those affected by extreme weather, health crises and conflicts.

About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. 

View original content:https://www.prnewswire.com/news-releases/bmo-supporting-customers-and-communities-impacted-by-hurricane-milton-302274385.html

SOURCE BMO Financial Group

FAQ

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What financial relief is BMO offering to customers affected by Hurricane Milton?

BMO is waiving monthly maintenance fees, non-BMO ATM transaction fees, and overdraft fees for affected personal banking customers. They are also extending payment due dates for mortgages, loans, and lines of credit, offering reduced credit card payment amounts, and providing low-interest rate loans to qualified consumers in impacted areas.

How is BMO supporting communities impacted by Hurricane Milton?

BMO is supporting communities through its annual corporate donation to the American Red Cross for ongoing relief and resiliency work. The bank is also offering various financial relief options to affected customers and encouraging support for organizations like Direct Relief, United Way Suncoast, and the American Red Cross.

Can BMO business loan customers affected by Hurricane Milton get assistance?

Yes, BMO business loan customers who need assistance due to Hurricane Milton are advised to contact their banker directly for support.

Where can I find more details about BMO's financial relief options for Hurricane Milton victims?

More details on the financial relief available to customers can be found on BMO's website. Customers impacted by the storm are encouraged to contact BMO directly for assistance.