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Understanding the Worth of BMO Rewards Points: Your Comprehensive Guide

If you are a Bank of Montreal (BMO) customer, you may have heard of or even accumulated a substantial amount of BMO Rewards points. But exactly how much are these rewards worth? And how can you make the most out of them using various methods provided by BMO, such as online banking, the mobile app, or even customer service? This comprehensive article will answer these questions and more.

How Much Are BMO Rewards Points Worth?

The first thing to note about BMO's reward program is that the value of points is not exactly concrete. The overall point value depends on how you choose to redeem them. On average, though, one BMO Rewards point is equivalent to 0.71 cents when used for travel-related expenses, which is the most valuable option.

However, for merchandise or gift card redemptions, the value per point might be slightly lesser. Be sure to evaluate the best redemption method that suits your lifestyle and financial goals.

How to Redeem BMO Rewards Points through Online Banking

Redeeming your BMO Rewards through the online banking portal is a straightforward process. Follow these steps to start:

• Login to your BMO Online Banking account with your credentials.
• Find the “Rewards” section on the portal dashboard.
• Select the redemption option that you prefer (travel, merchandise, etc.)
• Follow the prompts to complete the redemption.

How to Redeem BMO Rewards Points through Mobile App

If you prefer a more mobile-friendly method, the BMO Mobile Banking app provides a convenient platform to redeem your points. Here's how:

• Download and log in to the BMO Mobile Banking app from your device. Ensure it’s updated to the latest version for best user experience.
• Navigate to the “Rewards” tab usually located in the menu or at the bottom of the screen.
• Choose your desired redemption method and follow the given instructions.

How to Redeem BMO Rewards Points through Customer Service

Alternatively, you can contact BMO’s customer service to redeem your rewards points. Here's how:

• Call BMO’s customer service at 1-800-361-3361. Make sure to have your account details ready.
• Express your intent to redeem your Rewards points. The service representative will guide you through the steps.

In conclusion, while the worth of BMO Rewards points may vary depending on your redemption method, maximizing their value is made easy with BMO's various platforms. Choose your preferred method and begin your journey towards lucrative rewards.