A Continuous Savings Plan (CSP), also known as a pre-authorized contribution or deposit, does your saving for you automatically, so you don’t have to think about it. It withdraws funds from pretty much any account, and deposits them into your savings or investment account on a regular schedule.

How can I set up a CSP?

Setting up a CSP is easy! If you’re already a BMO customer, you can do it yourself through Online Banking. You’ll find it under the My Accounts tab. Or if you like, one of our investment specialists would be happy to set one up for you. You can ask at your local branch, or call the BMO Investment Centre at 1-800-665-7700. You can also fill in our online form and someone will get in touch with you.

How much does a CSP cost?

Nothing! There’s no fee to set up a CSP.

What are the schedule options for a CSP?

Pretty much any schedule you like: weekly, bi-weekly, semi-monthly, monthly, or quarterly.

What is the minimum contribution amount for a CSP?

The minimum contribution amount for a CSP is $50 a month. That’s just $25 per payment if you’re on a semi-monthly contribution schedule.

Can I change the amount of my CSP?

Sure! You can change the amount of your CSP four (4) business days before the next scheduled purchase date. You can do it yourself, or if you prefer, one of our investment professionals can help, in your local branch or over the phone.