A BMO money order is a secure, prepaid payment instrument issued by the bank, acting as a reliable alternative to cash or personal cheques. Since the funds are guaranteed by the Bank of Montreal at the time of issuance, they are widely accepted for various transactions, including rent payments, legal fees, and cross-border purchases where trust is paramount.
Unlike bank drafts, which are typically used for much larger sums, money orders at BMO are often used for smaller, capped amounts. They are available in multiple currencies, making them a versatile tool for Canadians who need to send secure payments domestically or to the United States. Follow our guide below to understand the costs and the process for obtaining one.
BMO Money Order Costs and Currencies
| Category | Details |
|---|---|
| Available Currencies | Available in Canadian Dollars (CAD) and U.S. Dollars (USD). |
| Standard Fee | Typically $9.50 per item (may be waived for Premium Plan members). |
| Maximum Limit | Generally capped at $9,999.99 CAD/USD per individual item. |
Algorithm: How to Request a BMO Money Order
- Step 1: Log in to BMO Online Banking or the mobile app to verify you have sufficient cleared funds in your account.
- Step 2: Use the Branch Locator tool in the app to find your nearest full-service BMO location in Canada.
- Step 3: Click Book an Appointment within the app and select "Branch Service" to minimize your wait time.
- Step 4: Visit the branch and provide the teller with your BMO Debit Card and one piece of government-issued photo ID.
- Step 5: Specify the currency (CAD or USD) and the exact amount. The teller will withdraw the funds and the fee immediately and print the physical money order for you.
Pro-Tip: If you are a BMO Premium Plan or Performance Plan holder, check your account benefits before visiting the branch. This efficiency hack can save you money, as these plans often include a set number of free money orders or bank drafts per year, allowing you to bypass the standard $9.50 fee entirely.
Troubleshooting Common Access Issues
- MFA Code Delays: If you are trying to log in to book an appointment and the 2-Step Verification code is delayed, ensure your cellular signal is strong. If the SMS fails, select the prompt to receive your code via a voice call to your registered phone number.
- Browser Navigation Errors: If the branch locator map fails to load on your desktop browser, clear your cache and cookies. Often, location-based services are blocked by aggressive ad-blockers; try disabling them for bmo.com to see nearby branches.
- Locked Online ID: Entering your password incorrectly multiple times while checking your balance will lock your digital access. Use the Forgot Password link to securely reset your credentials using your card details to restore access before heading to the branch.
Frequently Asked Questions
Can I buy a BMO money order online?
No. For security reasons, BMO money orders must be physically printed on specialized paper with security watermarks. You must visit a BMO branch in person to have the document issued and signed by an authorized representative.
What is the difference between a BMO money order and a bank draft?
The primary difference is the limit. Money orders are generally used for amounts under $10,000, while bank drafts are intended for larger sums. Both are considered guaranteed funds and carry similar fees for standard BMO account holders.
