How Much Can You E-Transfer Through BMO: A Comprehensive Guide

Convenience is a critical factor in the banking industry today. With the rapid digitalization of banking services, clients can now carry out a wide range of transactions without stepping into a physical bank. One such service is electronic money transfer, popularly known as e-Transfer. In this article, we will discuss the specifics of carrying out an e-Transfer through the Bank of Montreal (BMO), focusing on the limits and the platforms available to do so.

Understanding E-Transfers

Before diving into the specifics, it’s crucial to understand what e-Transfers are and why they have become so popular. E-transfers are a safe, efficient way of sending money from one bank account to another via email or mobile phone. They are preferred because they are quick, secure, and convenient.

How Much Can You E-Transfer Through BMO

BMO, like other financial institutions, sets a limit to the total amount one can send through an e-Transfer. The limits typically vary based on the length of time you have been a BMO customer, type of account, and the level of activity in your account.

Using Online Banking for E-Transfers

BMO's online banking platform allows you to initiate e-transfers swiftly. Here's how you can determine your e-Transfer limit in the online banking portal:

• Log in to your BMO online banking account.
• Click on the 'Payments & Transfers' option.
• Choose ‘Interac e-Transfer'.
• Hover the cursor over the question ("?") mark next to items on this screen, at which point your e-Transfer limits will be displayed.

Using BMO Mobile App for E-Transfers

Apart from online banking, BMO also offers a great mobile banking app that allows customers to perform e-Transfers. The steps to find out your e-Transfer limits through the mobile app are quite similar:

• Log in to your BMO mobile banking app.
• Tap on the 'More' option at the bottom.
• Then tap on 'Interac e-Transfer'.
• If you tap on the info ("i") button on this screen, it will display your e-Transfer limits.

Contacting BMO Customer Service

In some cases, you may prefer personalized service or have unique queries. In such instances, contacting BMO via telephone is an effective method. BMO's customer service can help you determine your e-Transfer limit or assist in raising it, if that’s possible. The bank's customer service number can usually be found on the back of your debit card, or on the BMO website.

Final Thoughts

E-transfers have made money transactions easier, quicker, and more convenient. However, knowing your e-Transfer limit is crucial to avoid any transactional hiccups. If you need any technical help or assistance with understanding or modifying your e-Transfer limit, don't hesitate to reach out to BMO's customer service for assistance.