Skip to main content

Featured

AIR MILES Is Gone. Here's What Actually Earns You Travel Now

  If you've been holding onto a Air Miles card waiting to redeem for a flight, the program you signed up for doesn't exist anymore — and the cards that replaced it aren't the best game in town. If you searched "best AIR MILES credit card" and landed here, there's something you need to know first: there is no such thing anymore. AIR MILES, the loyalty program that's been part of Canadian wallets since 1992, officially became BMO Blue Rewards on June 2, 2026. BMO had already stopped issuing new AIR MILES cards back in January, and every collector's Miles converted automatically into Blue Points at a rate of roughly 1 Air Mile to 15.79 Blue Points — no action needed, no lost value. That's good news if you're a longtime collector sitting on a pile of Miles. It's less good news if you were hoping to earn free flights that way going forward, because Blue Rewards was built to compete with PC Optimum and Scene+ — grocery, gas, and everyday spendi...
Post a Comment
Read more

article

Labels

BMO Faces $4‑Million Penalty for Long‑Running Customer Overcharges



The Bank of Montreal has been fined $4 million by Canada’s federal banking regulator after an internal review revealed the bank had overcharged more than 100,000 customers enrolled in discounted banking plans. The issue spanned over a decade and affected clients who were supposed to receive reduced or waived fees through specialized programs.

According to the regulator, the bank failed to apply fee waivers correctly and did not clearly disclose when discounted pricing would begin. As a result, customers in programs for newcomers, students in medical and dental fields, Indigenous clients, and mortgage‑related plans were charged fees they should not have paid.

BMO has refunded millions to affected customers and made additional donations in cases where refunds were not possible. The bank stated that it self‑reported the issue and has since updated its internal processes to prevent similar errors.

The fine highlights the ongoing scrutiny of consumer protection practices within Canada’s major financial institutions and reinforces the expectation that banks must ensure accurate, transparent fee structures.


Labels:

Comments

Post a Comment