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How to Transfer Money on Bank of Montreal BMOEach recipient is a child or legal ward of a BMO employee, and will receive CDN$10, for their first year of studies. Congratulations to the. Students must demonstrate superior academic ability, proven leadership qualities and financial need. Students must also be involved in school and community. We're proud to award 10 scholarships for a first post-secondary degree or diploma program through the BMO William A. Downe Scholarship Program.