sohi VS Bank of Montreal
Ontario  Canada
Occurred: 2016-04-17; Posted: 2016-04-23

Most Canadian banks do not allow international online money transfers, even if they do, they do not exceed a few hundred dollars. Instead of using illegal money transfer arrangements, I have a signed a verbal/ message agreement with the bank that if I send them a signed fax with the required details, they will transfer the money to any overseas account on my behalf. Its a signed and enforceable contract. The problem is every time I send the fax, I have to wait for months to get the money transferred because the verbal/message agreement was found missing from the banks files. I have to send my copy to the bank every time. I do not understand how can a bank not keep signed documents safe and lose them conveniently. To me it seems that banks or bank employees do it just to keep the money in a buffer and take personal advantage from it.

Financial Losses
Lack of Due Diligence
Breach of Contract

RESPONSE FROM Bank of Montreal
I am attaching a new verbal agreement if you can sign this and mail the original back to me. Also email me a signed copy for now. I was unable to locate the verbal agreement on file left with Harris so will need a new one. Please let me know if any concerns. Thank you Nikhil Tandon | Financial Services Manager | Etobicoke Market BMO Bank of Montreal | 155 Rexdale Blvd, Toronto, ON, M9W 5Z8 (T) 416-744-2957 | (F) 416-744-4251 Visit BMO Bank of Montreal online at


Take up the matter with the highest authority in the Bank

      Agree (1)       Comment (1)


ms1sm  |  2016-04-28
The other problem is if you are transferring overseas, the banks will give you the lowest exchange rate and charge exorbitant fees