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How Long Does BMO Hold Cheques? An Exploration of Online Banking, Mobile App, and Customer Service

Here, we aim to shed light on an often-asked question, how long does BMO hold a cheque? The length of the hold depends on multiple factors which we’ll outline in this detailed guide. Having the knowledge beforehand can help you manage your finances better. We will look at three approaches to this matter: online banking, mobile apps, and customer service.

A Deep Dive into BMO Online Banking

Online banking with BMO includes a variety of features that make it convenient and safe. One of these features includes cheque deposit. This process usually takes a few business days to complete. However, the exact time period depends on factors like the amount on the cheque and the history you have with BMO.

For newly opened accounts or accounts that had previous issues, the holding period may be longer in order to verify the cheque. On the other hand, if your account is in good standing, the hold period can be shorter.

To use this feature, just log into your BMO online banking account, and navigate to the deposit section. You can deposit your cheque here and track the progress until the funds become available.

The Convenience of the BMO Mobile App

BMO also offers their versatile mobile banking app for cheque deposits. The app allows you to deposit cheques anytime from anywhere. The cheque hold period in the case of mobile deposits is similar to online banking.

To make a mobile deposit, sign the back of your cheque, capture its image using the app, and then follow the on-screen instructions. After the deposit, the app shows an estimated release date. But remember, this is just an estimated date and the actual period can vary based on the factors mentioned earlier.

Resolving Doubts through BMO Customer Service

Sometimes, you might have unique situations where you need further clarification about the cheque holding period. This is where the BMO customer service steps in. You can call them, use the live chat feature, or visit a branch in person to discuss your query. This can be extremely helpful if you have a time-sensitive issue and need to access the funds sooner than usual.

When you call them, have your account details ready, along with the cheque information. This will speed up the service and you will get the answers you need quickly.

It's important to remember that while the hold up period for a cheque can be difficult to navigate, these resources are available to customers for a reason. By understanding how to utilize these options effectively, you can create a seamless banking experience for yourself.

Conclusion

To sum up, BMO offers three main methods to help its customers understand how long the hold on a cheque might be - online banking, the mobile app, and through its attentive customer service. By using these methods appropriately, you can make the cheque deposit process hassle-free.

Keep in mind that patience pays off in financial matters. Whenever you deposit a cheque at BMO, whether using the app or online banking, knowing the hold period ensures you can plan your expenses without any unpleasant surprises.