Bancardchek – the cash card, 1968
In the late 1960s, the bank introduced a unique new international service that combined the benefits of carrying cash and travellers’ cheques.
The Bancardchek, exclusive in Canada to Bank of Montreal at the time, allowed customers to carry secure guaranteed cheques. A matching signature on the customer’s Bancardchek card and Bancardchek was required for merchants to cash their cheques.
Unlike travellers’ cheques, the customer did not pay in advance, and was only charged if the cheques were used. The Bancardchek was one way the bank responded to the changing needs and lifestyles of customers.