BMO’s Gold Deposit Program
Want to buy high quality physical gold bullion and store it in an exceptionally secure place?
BMO’s gold deposit program is a simple and straightforward way to purchase very high quality physical gold bullion and store it safely in our vault at the Royal Canadian Mint.
Overview
Who: BMO is Canada’s oldest Bank
What: Very high quality physical gold bullion that meets the LBMA’s Responsible Sourcing program
Where: The Royal Canadian Mint which is a Crown Corporation of the Government of Canada that is exceptionally secure.
Other notable features
Allocated physical gold bullion stored at the Royal Canadian Mint in Canada
No annual fees
No empty vault risk
Gold bullion not available to claims of creditors of BMO
Once clients are in the program, they have three options: (1) buy and hold, (2) sell on a cash settled basis, or (3) request physical delivery. All details are set forth in the Disclosure Statement for the Program dated June 30, 2022 and related Terms and Conditions.
Contact
Canadian retail investors are asked to contact representatives at BMO Nesbitt Burns, BMO InvestorLine, or BMO Private Bank. Please ask about the BMO Gold Deposit Program.
BMO employees can contact Department, MTL Client Services.
Program Announcements
Please be advised that the MTL Disclosure Statements and their accompanying terms and conditions will be modified as follows:
To reflect a change in the storage of the Gold Bullion and Silver Bullion under the MTL programs in a custodial account at the Royal Canadian Mint operated by BMO Nesbitt Burns Inc. to a custodial account at the Royal Canadian Mint operated by Bank of Montreal. This change will appear throughout the Disclosure Statements.
To reflect the assumption of BMO Nesbitt Burns Inc.’s role in the operation of the MTL programs by Bank of Montreal. This change will appear throughout the Disclosure Statements.
For MTL001 and MTL007, with respect to the option to withdraw Gold Bullion from Bank of Montreal’s custodial account at the Mint and offer to sell the Gold Bullion to Bank of Montreal, the expected difference between the “bid” and “offer” will be changed to “up to 2%”. This change will appear in the description of Option #3 and Section 6(c) of Schedule “A” in the MTL001 and MTL007 Disclosure Statements.
For MTL900 and MTL901, with respect to the option to withdraw Silver Bullion from Bank of Montreal’s custodial account at the Royal Canadian Mint and offer to sell the Silver Bullion to Bank of Montreal, the expected difference between the “bid” and “offer” will be changed to “up to 5%”. This change will appear in the description of Option #3 and Section 6(c) of Schedule “A” in the MTL900 and MTL901 Disclosure Statements.
To implement other non-material housekeeping changes.
Other than as set out above, each MTL program will continue to operate in the same manner. For further information, please contact your Nesbitt Burns Investment Advisor or InvestorLine and ask for the Disclosure Statement dated September 30, 2025 for the applicable MTL program.
These changes will take effect on September 30, 2025.
Please be advised that all MTL Disclosure Statements and their accompanying terms and conditions will be modified to bring enhanced clarity to the respective roles of Bank of Montreal and BMO Nesbitt Burns Inc. in the operation of the MTL programs. Each MTL program will continue to operate in the same manner. For further information, please contact your Nesbitt Burns Investment Advisor or InvestorLine and ask for the June 30, 2022 Disclosure Statement.
These changes will take effect on June 30, 2022.
Please be advised that the descriptor for Gold Bullion that is in bar, wafer, or ingot form, will be modified to the following across MTL001 and MTL007 Disclosure Documents: “If the Gold Bullion is in bar, wafer, or ingot form, the Gold Bullion will also (i) have been fabricated by a metal refiner included in the London Bullion Market Association’s good delivery list of acceptable refiners for gold; and (ii) bear basic identification markings that are recognized and accepted for trading in Canadian financial markets, such as the hallmark of the metal refiner that produced it and a stamp indicating its fineness and weight.”
Please be advised that the descriptor for Silver Bullion that is in bar, wafer, or ingot form, will be modified to the following across MTL900 and MTL901 Disclosure Documents: “If the Silver Bullion is in bar, wafer, or ingot form, the Silver Bullion will also (i) have been fabricated by a metal refiner included in the London Bullion Market Association’s good delivery list of acceptable refiners for gold; and (ii) bear basic identification markings that are recognized and accepted for trading in Canadian financial markets, such as the hallmark of the metal refiner that produced it and a stamp indicating its fineness and weight.”
These changes will take effect on May 14, 2022.
Please be advised that due to the rapidly changing market conditions caused by COVID-19, the notification period for changes and revisions will drop from 30 days to 14 days. This change applies to the description of Option #1, Option #2, and Sections 2(c), 7(a) and 8(c) of “Schedule A” in all MTL Disclosure Statements.
Please be advised that Schedule 1 of the Disclosure Statement for all Silver Deposit FundSERV Code MTL900 will be modified to: “Withdrawal and Delivery Fee - CDN$4.00 per ounce, plus applicable taxes, plus all shipping.”
Please be advised that Schedule 1 of the Disclosure Statement for all Silver Deposit FundSERV Code MTL901 will be modified to: “Withdrawal and Delivery Fee - USD$4.00 per ounce, plus applicable taxes, plus all shipping.”
Please be advised that all references to “unencumbered” will be deleted throughout all MTL Disclosure Statements, other than in the first paragraph.
Please be advised that all references to www.bmosp.com will be updated to bmobullion.com in all MTL Disclosure Statements.
Please be advised that the delivery timeframe in section 5(b) of “Schedule A” for all MTL programs will be increased from ten (10) business days to thirty (30) business days.
These changes will take effect on April 30, 2022
Please be advised that Schedule 1 for all Silver Deposit FundSERV Codes will be modified to: “Withdrawal and Delivery Fees - CDN$4.00 per ounce, plus applicable taxes, plus all shipping.”
Please be advised that Section 4(d) of “Schedule A” for all MTL programs will be removed: “No Encumbrances. The Buyer may not pledge, charge, assign, create a security interest in or otherwise encumber the Gold Bullion and must keep it free from any liens, encumbrances, charges, security interests or claims of third parties, other than those created by these Terms and Conditions.”
Please be advised that due to the rapidly changing market conditions caused by COVID-19, the notification period for changes to all MTL Fee Schedules and revisions pursuant to Section 2(c) of “Schedule A” will drop from 30 days to 14 days.
All changes referenced above will take effect on February 23, 2022
The above is for information purposes only and does not constitute an offer or solicitation in respect of Bank of Montreal's Physical Allocated Gold Deposit Program (the "Program"). Customers should read and carefully consider all of the information in the Disclosure Statement for the Program dated June 30, 2022 and related Terms and Conditions before participating in the Program. In particular, customers should carefully evaluate the specific risk factors set out under the heading "Risk Factors" in the Disclosure Statement. Neither Bank of Montreal, BMO Nesbitt Burns or any of their respective affiliates provide any guarantee as to the value of the gold under the Program. Past performance of the price of gold bullion is not indicative of future performance. The gold under the Program will not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime. ®"BMO (M-bar Roundel symbol)" is a registered trademark of Bank of Montreal, used under license. ®"Nesbitt Burns" is a registered trade-mark of BMO Nesbitt Burns Corporation Limited, used under license. BMO Nesbitt Burns Inc. and BMO Nesbitt Burns Ltée are indirect subsidiaries of Bank of Montreal. If you are already a client of BMO Nesbitt Burns, please contact your Investment Advisor for more information.