Online Guarantees for Personal Accounts - Frequently Asked Questions (Revised 10/9/12)
Yes, our Online Guarantees for personal accounts ensure you will not be liable in the unlikely event that funds are removed from your account without your authorization as the result of an online banking or bill pay transaction, and guarantee accurate, on-time payment of properly scheduled bill payments1.
The BMO Harris Online Guarantees1 include both an online banking and a bill pay component that cover the following:
- Online Banking Guarantee1 - you will not be responsible for unauthorized online transfers from your BMO Harris personal accounts.
- Bill Pay Service Guarantee1 - if we fail to process a properly scheduled online bill payment in accordance with your instructions, we will reimburse any late charges assessed by the biller.
The Online Banking Guarantee1 ensures that we will refund the amount that is fraudulently taken from your account by a third party. We cannot be held responsible for any other losses you may incur as a result of the fraudulent activity. You must notify us within two Business Days of discovery of the fraudulent transaction.
With the Bill Pay Service Guarantee1, we will bear responsibility for any late payment related charges, should a payment post after its due date, as long as the payment was properly scheduled according to the guidelines described under the "Bill Pay Service Guarantee" section in the BMO Harris Online BankingSM Services Agreement. You must notify us of the late payment within two Business Days of your discovery of the late payment.
Closing the primary account associated with bill pay, even if there are other deposit accounts linked to bill pay, will result in a loss of bill pay access, including the loss of all biller information, activity history and pending transactions for all accounts.
Once the primary deposit account becomes inactive, BMO Harris cannot track or monitor transactions and the Online Guarantees no longer apply.
Before closing the primary account associated with bill pay, please call a Contact Center Banker at 1-888-340-2265 to verify the status of pending bill pay transactions that are covered by the Online Guarantees.
If you think you are or may have been a victim of online fraud, contact us immediately. Report all incidents of unauthorized account access to BMO Harris Online Services
1Certain conditions and limitations apply. BMO Harris Online Guarantees apply to personal accounts only and do not apply to commercial or business accounts. Please see the BMO Harris Online BankingSMServices Agreement for full details. In addition to the BMO Harris Online Guarantees, Federal Reserve Regulation E provides certain protections for consumers when unauthorized electronic funds transfers occur on an account used primarily for personal, family, or household purposes. The BMO Harris Online Guarantees are intended to expand upon the rights and protections provided for personal accounts under Regulation E. For more details regarding Regulation E and unauthorized electronic funds transfers for personal accounts, see Section 5 of the Deposit Account Agreement.