BMO Bank, SEATTLE BRANCH
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108 client reviews
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| Name: | BMO Bank |
| Concentration: | Commercial Lending Specialization |
| Established: | 05/17/1947 |
| FDIC Insurance: | 05/17/1947 |
| Holden By: | BANK OF MONTREAL |
| Charter Class: | Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) |
| # of Branches: | 1041, view all, view on map |
| Website: | http://www.bmo.com |
| Total Assets: | $265,657,813,000 |
| Total Deposits: | $206,601,880,000 |
| Total Equity Capital: | $32,992,890,000 |
| Total Domestic Office Deposits: | $206,601,880,000 |
| Net Income: | $413,687,000 |
| Quarterly Net Income: | $174,086,000 |
| Return on Equity: | 1% |
| Quarterly Return on Equity: | 2% |
| More... | |
Client Review
108 client reviews of BMO Bank scored 2.5 out of 5.
Avoid for investment or trust banking!
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by UWstarAlum, May. 04, 2016
This bank touts itself as being wealth management experts and providing account analysis and advisement to help clients meet their financial goals. In fact, at the Seattle branch, the opposite occurs; no analysis or advising is provided, investment accounts are managed very passively without any adjustment to follow market trends, and customers' stated financial needs and goals are ignored. One only finds this out after years of lackluster performance, with the investment dept. director unable to respond to concerns, year after year. They do not track individual accounts on even an annual basis, so they have no idea what's going on in each account! There is no oversight of the investment dept., nor any accountability to higher-ups. The trust management specialists are poorly informed about trust law (including those who are trust lawyers!), and commit errors and illegalities due to ignorance. The trust staff seem to chronically be functioning in an emergency, panic mode, struggling to keep up with workloads and the steady exodus of dissatisfied clients. This was the situation when the Seattle branch was a small, local bank, and deteriorated after being acquired by the Harris, then BMO. Just when you think it can't get any worse, it does.
* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 1 - 2 banks before.
* this review was made on BMO Bank, Seattle Branch at Seattle, WA
4 of 6 people found this review helpful. Was this review helpful to you? Yes, No Report Abuse
Overall Rating Interest Rate and Cost Office Environment & Staff Waiting Time Other Servicesby UWstarAlum, May. 04, 2016
This bank touts itself as being wealth management experts and providing account analysis and advisement to help clients meet their financial goals. In fact, at the Seattle branch, the opposite occurs; no analysis or advising is provided, investment accounts are managed very passively without any adjustment to follow market trends, and customers' stated financial needs and goals are ignored. One only finds this out after years of lackluster performance, with the investment dept. director unable to respond to concerns, year after year. They do not track individual accounts on even an annual basis, so they have no idea what's going on in each account! There is no oversight of the investment dept., nor any accountability to higher-ups. The trust management specialists are poorly informed about trust law (including those who are trust lawyers!), and commit errors and illegalities due to ignorance. The trust staff seem to chronically be functioning in an emergency, panic mode, struggling to keep up with workloads and the steady exodus of dissatisfied clients. This was the situation when the Seattle branch was a small, local bank, and deteriorated after being acquired by the Harris, then BMO. Just when you think it can't get any worse, it does.
* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 1 - 2 banks before.
* this review was made on BMO Bank, Seattle Branch at Seattle, WA
4 of 6 people found this review helpful. Was this review helpful to you? Yes, No Report Abuse
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