BMO Bank Customer Care From the beginning, Montreal Bank played a central role in Canada’s development and its greater efficiency in foreign and domestic trade. The bank provided its own banknotes, which were served as a source of commercial credit, there was a safe deposit for the funds of the people, and the exchange and other commercial papers became the place to buy foreign bills.In 1822, recognizing the bank’s value in the commercial community, and the Legislature of Lower Canada granted it a charter under the name Bank of Montreal. The bank to be continued in contributes to building the country’s fledgling infrastructure.
BMO Bank Customer Care
In the early days of 1820, within the virtual disappearance of fur trade from St. Lawrence Valley, the country opened for trade and settlement through the development of water and rail transport. An Early history of the bank First, there was a wealth of money to build Canada’s first major canal (Lachine, 1821-1825) and the first railway (Champaign and St. Lawrence, 1832-36). At the same time, the bank involved in the construction of St. Lawrence-Great Lake for improving navigation and in the 1850s; the Grand Trunk Railway financed to make Quebec in Sarnia. The bank was a key partner in the important aspects of other infrastructures, such as financing the first telegraph service connecting Upper and Lower Canada in 1840.
Naturally enough, the banks geographic with expansion followed the paths of Canadian trade and investment. Within few a months of our founding, Bank of Montreal opened a substantial agency in Quebec. In followed by a presence in Upper Canada in Toronto (then called York), Kingston, Queenstown, Perth and Amherst burg. Agents we also appointed in 1818 in New York and London, England.
The offices in Upper Canada area closed. However, following legislation in 1824 outlawing branches of banks with head offices outside the province. It wasn’t until 1842 that banks could freely establish in a branch in both halves of the newly united Province of Canada. As a result, offices opened in Cobourg, Belleville, Brockville and by town (now Ottawa), paralleling the growth of Canada’s transportation networks and the development of its natural resources, notably timber.