While the Bank of Montreal (BMO) previously offered self-service coin counting machines in select "Smart Branches" across Canada, the bank officially removed these machines from all locations several years ago. This decision followed a trend across major Canadian financial institutions due to high maintenance costs and industry-wide concerns regarding the accuracy of mechanical coin counters.
Today, customers looking to deposit large amounts of loose change at BMO must follow traditional manual deposit procedures. While the automated machines are no longer available in-branch, BMO continues to accept coin deposits from personal and business account holders provided the currency is properly prepared according to Canadian clearing standards. Below is the exact process for converting your loose change into a bank deposit.
BMO Coin Deposit Requirements
| Category | Details |
|---|---|
| Preparation | Coins must be sorted and placed in standard paper coin rollers. |
| Service Fee | Free for BMO customers; non-customers may be refused or charged a fee. |
| Supplies | BMO branches provide paper coin wrappers to customers for free upon request. |
Algorithm: How to Deposit Your Coins at BMO
- Step 1: Visit your local BMO branch and request the necessary paper coin rollers (wrappers) from a teller.
- Step 2: Sort your coins by denomination and fill the rollers according to the standard quantities (e.g., 50 pennies/dimes, 40 nickels/quarters).
- Step 3: Write your BMO Account Number and name clearly on the outside of each roll to ensure security during the verification process.
- Step 4: Sign in to the BMO Mobile App or Online Banking to verify your home branch hours and use the Book an Appointment tool to schedule a "General Banking" visit.
- Step 5: Present your rolled coins and your BMO Debit Card to the teller. The funds will be deposited directly into your chosen account once verified.
Pro-Tip: If you have a large volume of coins and want to avoid the manual rolling process, look for Coinstar kiosks located in major Canadian grocery stores like Real Canadian Superstore or Sobeys. While these machines charge a percentage fee (typically around 11-12%), they provide a printed voucher that you can instantly exchange for cash, which you can then deposit into your BMO account via a BMO Deposit-Taking ATM.
Troubleshooting Common Deposit 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, opt to receive the code via an automated voice call or answer your Challenge Questions.
- Browser & Map Errors: If the BMO Branch Locator fails to display local branch hours, clear your browser cache and cookies. Some ad-blockers prevent the map scripts from loading; try disabling them for bmo.com to see full service details.
- Locked Digital ID: If you enter your password incorrectly while checking your balance before a deposit, your account may lock. Use the Forgot Password link to reset your credentials using your debit card details and MFA to regain access instantly.
Frequently Asked Questions
Will BMO tellers count my loose change for me?
Generally, no. BMO staff are required to accept only rolled coins for personal deposits to ensure accuracy and branch efficiency. Business clients with high coin volumes may have access to specialized "Night Deposit" bags, but these also typically require pre-sorting.
Are there any free coin counters left in Canada?
Most major banks (BMO, TD, RBC, Scotiabank) have removed their machines. Some local Credit Unions still offer them for free to their members, but for the majority of Canadians, rolling coins manually or using a fee-based commercial kiosk are the primary remaining options.
