BMO Wire Transfer

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BMO Wire Transfer

The BMO is a wire transfer service that allows you to transfer money if you already have an account with them. With this platform, you can easily send money to your recipient's bank account. The platform also allows you to transfer money to all Western Union locations in the beneficiary’s country if you want them to receive the funds immediately.

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How To Do a Wire Transfer With BMO

To transfer money with BMO, You need to have a bank account with BMO. For wire transfers, all you need is your recipient's name and address, account number, and their local bank.BMO also allows you to send a Western Union transfer via its online banking app. Once you select the Western Union transfer app, you can send the money. Your recipient will pick up the money at their convenient Western Union location.

How To Register With BMO

In order to sign up with BMO, you need to;

Verify that you are eligible to open an account in the country.
Provide your full name, address, phone, social insurance number, and government-issued identification at this time.
Authorize the bank to do a credit check
Sign up for an online or mobile app account and carry out your transfers.

BMO Transfer Fees

Although wire transfer fees start at $15, you can pay up to $125 based on the method you choose to use. You are also required to pay a communication fee of $10.00. Moreover, your recipient's bank or other intermediary institutions may charge some fees. But if you decide to use Western Union, you are likely to pay $9 plus 1 percent of the total amount you want to transfer.

How Long Does the BMO Wire Transfer take?

How Long it takes to process your BMO wire transfer depends on whether you are using Western Union or BMO wire transfer. While Western Union transfers can be processed within 30 minutes, it can take up to 5 business days if you use wire transfer. To avoid any delays, you need to;

Try sending money in the morning.
Send smaller amounts of money using multiple transfers.
Arrange for cash pickup through Western Union or at an agent location.
Choose the most convenient currency for your recipient.

An Alternative To BMO Wire-Remitbee

Remitbee is a Canadian online money transfer service that allows you to transfer money from Canada to over 45 countries. Over the years, the website has increasingly become popular due to its low fees and higher exchange rates. Remitbee has a mobile app that you can use to transfer money and enjoy other services.

Like other services, you need to provide your personal details, ID, and address verification if you wish to sign up with them. You might also be called by one of the company representatives to help verify your ID. Since their transfers are quick, they can take as little as 5 minutes or one business day, depending on the recipient country. They also have other options that give a much higher exchange rate than quick transfers.

Other Available Wire Transfers

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