Canadian supermarket chain Sobeys partners with BMO Bank of Montreal to offer discounted banking services, projects services will save average customer C$180 in banking fees annually

Allison Oesterle

LOS ANGELES , November 21, 2011 (Industry Intelligence) – Sobeys, Inc., a supermarket chain that is based in Canada, has partnered with BMO Bank of Montreal in order to offer discounted banking services, TheStar.com reported on Oct. 24.

According to the article, the move is projected to save the average customer C$180 in banking fees annually, as new customers will be given $25 worth of free checks when they open an account, and BMO’s regular $13.95 per month fee has been waived.

Customers who have more than $5,000 in their account will also be eligible for a 1.3% interest rate on deposits.

Customers who use Sobeys’ banking services will be able to access their accounts at any of BMO’s 900-plus branches. They will also be able to use the ABM network.

Sobeys plans to install additional ABM machines in its stores. By the end of 2012, Sobeys aims to have 100 ABM machines in its stores.

The name of Sobeys’ discount banking services varies by province: in Atlantic Canada it is known as BMO Sobeys Air Miles, while in western Canada and Ontario it is named BMO Club Sobeys. In Quebec, the program is called BMO IGA Air Miles.

The primary source of this article is TheStar.com, Toronto, Ontario, on Oct. 24, 2011.

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