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Understanding the Value of a BMO Reward Point: A Comprehensive Guide

Understanding how much a BMO reward point is worth is crucial, especially for those who frequently use BMO banking and credit card services. BMO reward points are a kind of a loyalty program where you earn points each time you use BMO services. These points can be redeemed for travel, merchandise, gift cards, or statement credits on your BMO credit card balance. But what is the actual value of these reward points, and how can you redeem them? This guide will provide a detailed breakdown of the value of BMO reward points and the options for redemption through online banking, mobile app, and customer services.

Redeeming BMO Reward Points through Online Banking

One of the easiest ways to redeem your BMO Rewards points is through online banking. You can follow the steps below:

• Log into your BMO online banking account.
• Go to the ‘Rewards’ section from the main menu.
• Choose the category for which you want to redeem your points.
• Select the item or service you want to redeem using your points.

Using BMO Mobile App to Redeem Reward Points

For those that prefer to bank on-the-go, the BMO Mobile App provides an accessible platform for you to redeem your rewards points. Follow the steps:

• Download and log into your BMO Mobile App account.
• Click on the ‘More’ option, located at the bottom right of the screen.
• Select ‘BMO Rewards’ to view your points balance.
• Choose what you’d like to redeem your points for.

Redeem Your BMO Reward Points through Customer Service

If you are not comfortable with online banking or mobile applications, another option is redeeming your BMO reward points via customer service. Call the BMO Rewards Centre at 1-800-665-7700 and provide the following information:

• Your BMO Rewards account number or BMO credit card number.
• The details about what you want to redeem your points for.

Determining the Value of BMO Reward Points

Understanding the value of BMO reward points can be slightly complex because it largely depends on what you choose to redeem your points for. Generally, a BMO Rewards point is worth about $0.007 when redeemed for travel. This value changes when redeemed for merchandise or cash credits. Your available redemption options and their respective point values can be examined in detail either via online banking, mobile app or by calling customer service.

The Last Word

Understanding the value of your BMO reward points can significantly enhance your banking and transaction experiences. By taking full advantage of these points through the various redemption channels like online banking, mobile app and customer service, you can enjoy several benefits and rewards. Keep track of your BMO Rewards points to get the most value out of your banking activities.