Bank of Montreal wire transfer: transfer time, fees, and limits



If you’re a Bank of Montreal account holder, you may be seeking easy ways to send wire payments domestically or internationally. Take a look at this guide to learn about transfer time, fees, limits and more!

Bank of Montreal Domestic Wire Transfer Fees

You have the option to make a domestic wire transfer online, via mobile banking service or by personally visiting your preferred branch. If you prefer the latter, make sure to set an appointment with a specialist.


For domestic wire transfers, provide the following information:

  • Recipient’s name and contact details.
  • Recipient’s bank account details and transit number.
  • Wire routing number (also called the ABA code).
  • Details of the payment amount and the desired processing date.



Type of wire transfer Fee
Incoming Domestic Wire May vary by account type
Outgoing Domestic Wire CA$1 – CA$5 depending on account type and transfer method


Create an account with Instarem for cheaper and faster wire transfers


Bank of Montreal International Wire Transfer Fees

For international wire transfers with Bank of Montreal, you’ll need to following information:

  • Name and address of the recipient in the foreign country.
  • Recipient’s overseas bank account number.
  • Recipient bank ID, like a SWIFT code, BIC or national ID.
  • Foreign currency of the recipient’s bank account for currency exchange.
  • Purpose of the wire transfer.



Type of wire transfer Fee
Incoming International Wire C$16
Outgoing International Wire C$5 for BMO Global Transfers, C$15 – C$125 for direct bank account wire transfers
Bank of Montreal Wire Transfer Limit

Bank of Montreal has wire transfer limits on outgoing wire transfers through its online banking system, particulary:




Type of transfer Limit
Daily Minimum Limit C$100
Daily Maximum Limit Varies by daily debit card limit
Bank of Montreal Cutoff Times

Keep in mind that Bank of Montreal imposes a strict cut-off time for both domestic and international wire transfers. Make wire transfers before this designated time to ensure timely processing!




Type of wire transfer Cut-Off time
Domestic Wire Transfer 2:15 PM Central Time
International Wire Transfer 2:15 PM Central Time
Sources

Nerd Wallet
BMO Cut-off Times and Operational Timing
BMO Global Money Transfer FAQ

Disclaimer


The information provided in this guide is intended for general informational purposes only. While every effort has been made to ensure the accuracy of the information, banking policies and fees may be subject to change. Users are strongly advised to verify specific details and consult with their banks should they have any questions or concerns.


Instarem assumes no responsibility for any errors or omissions in this guide, or for any actions taken based on the information provided herein.







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