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It pays to bank

Ivana Pelisek | Interrobang | News | February 2nd, 2009

One Fanshawe student is now $5,000 richer thanks to a contest ran by The Bank of Montreal (BMO) for students who opened a saving account.

Jonathan McDonald, 21, a first-year General Arts and Science student at Fanshawe College opened his account months ago simply because he needed a savings account for school.

McDonald claimed that he had no idea he was part of any contest until he received a phone call from the bank saying he was the winner just by opening up a savings account at the branch.

“This is the first time a contest of this type has been done,” said Katherine Zajaczkowski, a Media Relations Officer at BMO Financial Group in London.

McDonald's name was automatically entered in the $5,000 draw when the contest began on July 1, 2008.

According to Zajaczkowski, there were 17,173 accounts in total that were opened when the contest began to the time it finished on October 1, 2008.

When McDonald was asked what he would do with the money after colleting the large sum, he said the answer was quite simple.

“I gave all the money back to my parents because they helped me out by paying for school,” said McDonald.

As for what McDonald plans to do after graduating from his program here at Fanshawe.

“I plan on attending either Western or York University with hopes of studying history,” stated McDonald.

Only time will tell whether or not BMO will run the same contest come next year.

“At BMO Bank of Montreal we're committed to our student customers and every year we run a student focused marketing campaign,” noted Zajaczkowski. “ While it's too early to determine whether we'll run the same student contest next year it's safe to say we'll have some sort of promotion.”
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