HSBC Bank Canada and BMO Financial Group have signed an agreement that will provide HSBC Bank Canada customers with access to BMO Bank of Montreal’s automated banking machine (ABM) network across Canada.

Starting in early 2005, this arrangement will allow HSBC customers to withdraw cash, and in time make deposits, through more than 2,020 BMO ABMst.

“This agreement brings the total number of ABMs where HSBC Bank Canada customers can withdraw cash without incurring a surcharge to more than 3,700, making it the third largest system of ABMs in Canada,” said Lindsay Gordon, president and CEO, HSBC Bank Canada, in a release.

Rob Pearce, president, personal and commercial client group, BMO Financial Group, said the ABM agreement will significantly enhance transaction volumes and increase related revenues for BMO’s ABM distribution channel.

In addition to, and as part of the agreement, HSBC Bank Canada has renewed and significantly expanded an existing contract under which BMO will continue to provide HSBC with cheque-clearing and cash management services, including allowing select HSBC Bank Canada commercial clients to make deposits at BMO branches.