There are several scenarios where you may need to stop a cheque payment at the Bank of Montreal (BMO), such as a lost cheque, a payment sent for a cancelled service, or an error in the written amount. BMO provides convenient digital tools that allow you to issue a stop payment order without visiting a branch. However, it is critical to act as quickly as possible, as a stop payment can only be successfully processed if the cheque has not already cleared your account.
By using BMO Online Banking or the BMO Mobile app, you can place a stop order on a single cheque or a series of cheques. To do this, you will need specific information including the cheque number, the exact dollar amount, and the name of the payee. Understanding the fee structure and the digital steps involved ensures you can protect your funds effectively and manage your transaction history with confidence.
BMO Stop Payment Fee Structure
| Category | Details |
|---|---|
| Digital Request (Online/App) | Typically $12.50 per request. |
| In-Branch or Telephone Request | Typically $20.00 per request. |
| Required Information | Cheque Number, Exact Amount, and Payee Name. |
Algorithm: How to Issue a Stop Payment Online
- Step 1: Sign in to BMO Online Banking or the BMO Mobile app using your Client ID and secure password.
- Step 2: Authenticate your session by entering the 6-digit Multi-Factor Authentication (MFA) code sent to your registered mobile device.
- Step 3: From your main dashboard, select the specific account from which the cheque was written.
- Step 4: Navigate to the Account Services or More menu and select the Stop a Cheque option.
- Step 5: Enter the required cheque details, review the service fee, and click Submit to place the stop payment order.
Pro-Tip: To avoid the higher service fees associated with manual processing, always use the BMO Mobile App to issue stop payments. This efficiency hack not only saves you money but also ensures the stop order is placed instantly in BMO's system, which is vital if the recipient is likely to attempt to deposit the cheque within the same business day.
Troubleshooting Common Access Issues
- MFA Code Delays: If your 2-Step Verification code is delayed while you are trying to stop a payment, check your cellular signal. If the SMS fails, select the Voice Call option to receive the code via an automated phone call to your registered Canadian number.
- Browser and Display Errors: If the "Stop a Cheque" page fails to load or the "Submit" button is unresponsive, clear your browser cache and cookies. Ad-blockers can sometimes interfere with secure banking scripts; try completing the request in an Incognito/Private window.
- Locked BMO ID: Entering your password incorrectly three times while rushing to stop a payment will lock your digital access. Use the Forgot Password link on the sign-in screen to securely reset your credentials using your physical BMO debit card and security questions.
Frequently Asked Questions
How long does a BMO stop payment order last?
A standard stop payment order at BMO remains active for six months. In Canada, cheques are generally considered "stale-dated" after six months, meaning most financial institutions will no longer honor them after this period anyway.
Can I stop a payment on a BMO Bank Draft?
No. You cannot issue a standard stop payment on a bank draft or certified cheque, as the funds have already been guaranteed by the bank. If a draft is lost or stolen, you must visit a BMO branch immediately to sign an indemnity agreement and begin the replacement process.
