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..
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
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.
From the menu, select Exchange Currency. Now enter the details of your currency exchange to see how much you'll get right away.
Connect your CAD and USD bank accounts
Choose the amount and confirm your exchange rate. The entire transaction takes place between your own two currency accounts via EFT
Convert your money! You can see all of your transactions in future by going to the Dashboard and clicking on the Transactions tab.
Our exchange fee: 0.00 CAD
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 .
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
Remitbee currency trading helps you to deposit funds into your US account and exchange them for Canadian dollars quickly and comfortably, and vice versa.
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.
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.
You can exchange money for free with Remitbee Currency Exchange.
Remitbee currently accepts US and Canadian dollars. More currency pairs will be available for your currency needs in the future.
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.