How to Close a Bank Account at BMO: An In-Depth Guide

Whether you are looking to switch banks, streamline your financial management, or simply want to avoid unnecessary service fees, closing a bank account might be your best solution. If you're a Bank of Montreal (BMO) customer, this article will provide you with a step-by-step guide on how you can close your BMO account through different channels- Online Banking, the Mobile App, and via Customer Service calls.

Option 1: Closing a BMO Account Online

Online Banking has made account management easier and closing an account is no exception. Here is a simplified exploration of how to close your BMO account online:

• Log into your BMO Online Banking account;
• Once logged in, click on “Customer Services”;
• Find the option labeled “Close Account” and click on it;
• Follow the prompts to successfully close your account.

Remember, before closing your account, ensure that your balance is zero or positive as a negative balance can result in both fees and complications.

Option 2: Using the BMO Mobile App

The BMO Mobile App brings the bank to the palm of your hands and is another convenient avenue to close your account. Here are the steps:

• Open the BMO Mobile App on your smartphone;
• Enter your login credentials to gain access to your accounts;
• Once logged in, navigate to “More Options”;
• Under the “Account Services” menu, select “Close Account”;
• You'll be guided through a series of prompts to close your account effectively.

Note: Just like the online channel, ensure your account balance is zero or positive before closing it to avoid extra charges.

Option 3: Closing a BMO Account via Customer Service

If you're more comfortable getting assistance from a representative, you can also elect to close your account over the phone by calling BMO's customer service team. Here is how you can do that:

• Call BMO’s customer service line at 1-877-CALL-BMO (225-5266);
• After choosing your preferred language, select the option for “Banking Accounts”;
• You will be connected with a customer service representative;
• Request closure of your account. They may ask for account details and security verification;
• Ensure to ask for a confirmation number or email confirming the closure of your account.

Again, ensure there are no pending transactions or a negative balance in your account before proceeding.

Conclusion

In selecting the best method to close your BMO account, consider which one is most convenient for you. Preparation and attention to detail are key steps in this process, ensuring smooth closure with no lingering loose ends. While the process can seem daunting, following these steps should make it easier and stress-free. If in doubt, contacting the customer service team might be your best bet.