BMO Currency Exchange

Trademark Disclaimer : BMO* is a trademark of Bank of Montreal with whom Remitbee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

BMO Bank of Montreal CAD to USD / USD to CAD Exchange Rate Overview

BMO or Bank of Montreal offers you the option of getting money in cash from a bank branch. You can also order the funds online. The bank publishes its rates online, but says that they are for information only. A rate that you see on the bank website may change without notice. They only guarantee the rate at the time of your actual purchase of foreign currency. While conventional banking institutions have traditionally been the go-to place for foreign exchange purposes, newly emerging online financial technology can provide better rates since they focus only on currency services.

How does BMO’s currency exchange work?

BMO displays its rates online but there are a few disclaimers: The rates provided are against Canadian dollars, only apply to over the counter cash exchanges and are intended to be used for information purposes only. BMO charges a higher exchange rate margin than specialized foreign exchange companies. It also has expensive fees. In addition to a flat rate, you will be charged a portion of the actual amount exchanged. This can easily add up, particularly if you're sending a large sum..

How to Exchange Currency with BMO

BMO claims that it can make preparing for travel easier. The bank does this by letting you order currency online and getting it delivered to your home or office. There is a limit of 2,000 CAD per day and a priority courier fee of 10 CAD for the service. Wondering how to order foreign currency from BMO? Here is how you do it.

Step 1. Sign in to BMO Online Banking (https://www1.bmo.com/onlinebanking/cgi) to start your order of foreign currency.

Step 2. From the top navigation menu, choose My Accounts.

Step 3. Choose your account.

Step 4. In the left navigation menu, choose Order Foreign Currency.

Step 5. Enter your order details, verify the information given, and submit it. You're done.

Step 6. If you live in a major city, your money can take up to four business days to arrive. It could take up to seven days if you live in a rural area.

How to Exchange in BMO accounts with Remitbee

Step 1

Create an account by entering your email address and selecting a password. You will be asked to confirm your Canadian phone number. Enter your Personal Information including name and address.

Step 2

From the menu, select Exchange Currency. Now enter the details of your currency exchange to see how much you'll get right away.

Step 3

Connect your CAD and USD bank accounts

Step 4

Choose the amount and confirm your exchange rate. The entire transaction takes place between your own two currency accounts via EFT

Step 5

Convert your money! You can see all of your transactions in future by going to the Dashboard and clicking on the Transactions tab.

Wondering how much you can get? Try our currency exchange calculator!

Alternatives to BMO’s Foreign Exchange Rate

Looking for an alternative to using BMO for exchanging currency? You can save money on your US dollar purchase by finding another service. It could also be more convenient than using a bank. If you are looking for currency exchange alternatives, check out this list.

- Other Banks
- Online Currency Exchange Companies
- Airport Kiosks or Stores
- ATMs in the US or Overseas .

Why is Remitbee the best place to convert?

Remitbee has better rates on currency exchange than your bank

Remitbee is regulated and audited by FINTRAC so transactions are secure

Remitbee simplifies the process of changing money so you can get on with your day

Other Currency Exchanges

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Frequently Asked Questions

So, what is Remitbee currency exchange all about?

Remitbee currency trading helps you to deposit funds into your US account and exchange them for Canadian dollars quickly and comfortably, and vice versa.

What are the advantages of Remitbee over BMO's currency exchange?

Everything with Remitbee is done online at one of the country’s most competitive exchange rates. It's easy to sign up and get started with right away. You can even do it on the go through installing the Remitbee app or going to the website. For your peace of mind, Remitbee is also approved and controlled by FINTRAC. Unlike BMO, you don’t have to wait around for your money to be delivered. Remitbee does everything between your own accounts, and you can exchange money from the comfort of your sofa or on the go.

Is it secure to use Remitbee to exchange money?

Remitbee technology safeguards your privacy, and transactions are done with a high degree of security. The money you're exchanging comes from your own bank account and is paid back into it.

Is there a charge for exchanging money?

You can exchange money for free with Remitbee Currency Exchange.

What currencies may I convert with Remitbee?

Remitbee currently accepts US and Canadian dollars. More currency pairs will be available for your currency needs in the future.

Is the currency exchange rate offered by Remitbee better or worse than that offered by BMO and other Canadian banks?

Remitbee, unlike banks, specializes in currency exchange and can offer it at a cheaper price. Big banks profit from the fact that most consumers are unaware that there are other ways to exchange currency. As a result, they continue to overcharge customers.This is due to the fact that consumers haven't known any difference for a long time. Customers don’t know how much money they are losing because banks hide their high exchange rates behind complicated fees.Remitbee's mission is to make our fees and exchange rates as transparent as possible so you can transact in currencies globally while ensuring you're getting the best deal. When you choose us, you'll know just how much you're paying and how much you're getting. Don’t just take our word for it. Look at our rates and compare. Sign up now and you’ll start saving right away.