RealTime IT News

Bank of Montreal MasterCard Internet Service Exceeds Expectations

Bank of Montreal said that over 400,000 customers have taken advantage of its new MasterCard Internet Service which was introduced in mid-February.

About 75% of the users check their balances or obtain information such as bill due dates or minimum payment amounts, approximately 20% want to review a list of recent transactions, and 5% ask for a recent statement.

Kathy Silmser, Senior Vice-President, Cardholder Services, said the free service points to a growing trend on the part of customers to adopt technology to undertake a variety of options to conduct business, but the high usage figures have exceeded expectations.

"We knew our MasterCard clients use their cards because of the convenience factor, but we've been pleasantly surprised by how many cardholders are using this new service and once again, it's the increased convenience that is driving the usage," said Silmser.

"By logging on to the site, customers can check account balances, review recent transactions, and see up to three months worth of statements with just a few clicks of the mouse." Cardholders can also make special requests such as credit line increases and address changes online.

The self-serve options are provided in a secure session with strong encryption and a verification process to access the site.