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Understanding the Value of BMO Rewards Points: An In-Depth Guide

In today’s dynamic world, understanding the value of reward points from your bank can yield you significant savings. One such rewards program is offered by the Bank of Montreal (BMO), a leading financial institution in Canada. But, how much is 1 BMO point worth? This comprehensive guide will provide a step by step analysis of how to calculate the value of your BMO points via online banking, a mobile app, and customer service.

Each BMO Rewards Program point is generally equivalent to 0.71 cents (or $0.0071), but the value can vary depending on how you redeem them. Let’s break it down and examine each platform in detail:

1. Online Banking

Using online banking is one of the easiest and quickest ways to determine the value of your BMO points. To do this, follow these steps:

• Log into your BMO online banking account
• Navigate to the 'Rewards' section
• Under the 'Redeem Points' option, you will see various redemption methods, including flights, hotels, merchandise, gift cards, and other experiences
• Pick a redemption method and divide the number of points needed by the cost of the item in Canadian dollars to calculate the value of one BMO point.

2. Mobile App

With the advent of digital banking, your mobile banking app is your one-stop-shop for all your banking needs, and determining your BMO points’ worth is no exception. Here’s how:

• Download the BMO Mobile Banking app from Google Play Store or Apple Store and log in with your credentials
• Tap on the 'BMO Rewards' section
• Select 'Redeem Points' and browse through the various redemption methods
• As with online banking, select a redemption method and calculate the value of a BMO point by dividing the number of points needed by the cost of the item.

3. Customer Service Phone Call

If you prefer a human touch, BMO’s customer service is ready to assist you. Here’s how you can find out the value of BMO points over the phone:

• Call BMO's customer service at 1-800-263-2263
• Ask the representative to provide you with the total points you have and the value of various items that can be redeemed with those points
• Again, calculate the BMO point value by dividing the number of points needed by the cost of the item

Remember, the value of BMO points can fluctuate based on the redemption method and any ongoing promotions. Therefore, it's wise to keep an eye on the options available and make thoughtful decisions to extract maximum value from your points. Whether you use online banking, a mobile app, or call customer service, understanding the true worth of your BMO points can transform your banking experience.

Stay savvy, stay informed, stay rewarded.