How to Transfer Money From BMO to Scotiabank: A Comprehensive Guide

In the digital era, transferring funds between different banks has become faster, easier, and more convenient. This guide will walk you through the steps to transfer money from BMO (Bank of Montreal) to Scotiabank using three different methods – Online Banking, Mobile App, and Customer Service.

Option 1: Using Online Banking

Internet banking is a popular method of transferring funds due to its convenience and accessibility. Here's a step-by-step guide on how to transfer money from BMO to Scotiabank using online banking.

• First, log into your BMO online banking account.
• Once signed in, locate the "Payments & Transfers" section.
• Choose the "Transfer Funds" option, then select the account you wish to transfer funds from.
• As the receiver bank, select Scotiabank. If you haven't set this up as a payee, you will have to add it to your payees list.
• Enter the details of the recipient's account, including the account number.
• Input the amount you want to transfer and authorize the transaction.
• Once you've confirmed all the details, click "Submit" to initiate the transfer.

Option 2: Using the Mobile App

Mobile banking apps provide a fast method to transfer funds from anywhere with an internet connection. To transfer money from BMO to Scotiabank using the BMO Mobile banking app, follow these steps:

• Open the BMO banking app on your mobile device and log in.
• From the main menu, select "Transfers".
• Select the account you wish to transfer from.
• Choose Scotiabank as the recipient bank, enter the recipient's account details and the amount you want to transfer.
• Once you've reviewed all the information, tap "Submit" to process the transfer.

Option 3: Call Customer Service

If you're not comfortable with online transactions or are experiencing issues with the online banking or mobile app, you can always call BMO's customer service hotlines. Here's the process:

• Dial the BMO customer service hotline at 1-800-363-9992.
• Once connected, navigate the prompts to reach a customer service representative.
• Verify your identity and explain that you'd like to make a bank transfer from your BMO account to a Scotiabank account.
• The representative will guide you through the process. Be prepared to provide your account details, the recipient's Scotiabank account details, and the amount you wish to transfer.

Remember, transfer times can vary depending on the method selected and the terms and conditions of the respective banks. It's always a good idea to plan your transfers ahead of time to ensure that the funds reach the intended recipient when needed.

With this guide, we hope you found the information needed to successfully transfer money from BMO to Scotiabank, whether it be through online banking, the mobile app, or a simple phone call.