How to Find a BMO Routing Number

How to Find a BMO Routing Number

Knowing how to find the BMO routing number can be helpful, especially if you operate an account with the Bank of Montreal. The BMO routing number is helpful for a lot of banking-related duties. This number is necessary to set up a direct deposit or autopay for bills.

There are different ways to find your BMO routing number. Note that your routing number is a combination of your institution and branch numbers.

So, the first method is to check the bottom of your cheques. The other methods to find your BMO routing code are using your Bank of Montreal’s online banking platform or searching your bank address.

Trust Organizations, Canadian Banks, and Credit Unions use the routing number in Canada for Electronic Fund Transfers (EFT). Find out more in this article about what a routing number is, how to find your BMO routing number and a host of other essentials you should know.

What is BMO routing number

Before we look into how to find the BMO routing number properly, let’s first know what a routing number is. Your routing number is a unique 8–9-digit banking code.

It facilitates finding the financial institution and branch office connected to your bank account. It consists of a 3-digit financial institution number and a 5-digit branch number, also called a transit number.

 You must add your transit and institution numbers to determine your routing number. The proper transfer of payments for transactions like the following requires a routing number:

  • Direct deposit
  • Wire transfer
  • Cheques
  • Electronic funds transfer between bank accounts.

Whether you want to make automatic or direct payments for your mortgage or request a wire transfer, you must know your BMO bank routing number. It is worth noting that routing numbers come in different formats, depending on how the transaction is conducted electronically or by cheque.

How to find a BMO routing number

Finding this number is very simple. You might have seen it, but you don’t just realize it. Here are some of the ways to find BMO routing number:

Check your cheques

The cheque is the most straightforward way to locate your routing number. When you look at your BMO cheque, you will find a unique set of numbers separated by routing symbols. Some of the numbers are:

  • Cheque number
  • Your financial institution number
  • Your account number
  • Transit (branch) number

Since we know the routing number is the institution and branch numbers combined, it’s easy to locate the routing number from the lowest part of your cheque.

Use your online account

In the case where you don’t have a paper cheque, don’t worry; you can locate your routing number from your online bank account. Some banks include the routing number in the account details area. That said, the following are the steps to find BMO routing numbers in Canada using your online account:

  • Log in to your BMO online banking profile.
  • Choose the “My Accounts” tab from the menu at the top of the website.
  • Choose the account for which you want your routing number on the left side of the page.
  • Your branch and institution numbers will display in the blue box at the top of the screen.

The “void cheque” link also lets you get a PDF of a voided cheque that includes your routing number and account information.

Use your bank address

What if you don’t have access to your online account? Then you should use the address of your bank to find your routing number. All you need to do is visit the BMO Branch Locations page to look up your routing number if you know your bank’s branch address.

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Formats of routing numbers

Either an electronic funds transfer (ETF) or a paper document with magnetic ink character recognition (MICR) could be used for your transaction. So whether you’re using direct deposit or a cheque, each transaction type determines the format your routing number will take.

Although the format of each one varies, the two elements (the institution and branch numbers) are the same. As an illustration, if XXXXX represents the branch number and YYY represents the institution’s number, the routing number will appear thus:

  • XXXXX-YYY for a paper transaction
  • 0YYYXXXXX for an electronic transaction

Why you should know your BMO routing number

Knowing how to find BMO routing numbers is necessary for several reasons. Below are some of them:

Helps with online bill payment

Having the option to set up automatic payments or make payments online can make managing your personal finances easier. The good news is that many creditors and lenders accept payments online.

You can use credit or bank debit cards to set up automatic payments with some creditors. Or you can set up ACH payments to have money deducted from your bank account automatically. Here, you’ll need your bank account number and routing numbers.

Get a tax refund

Getting a tax refund by cheque may take many weeks. This is why many people automatically deposit their tax refunds into their bank accounts. To ensure the government puts your money into the correct account, you must again enter your routing and account numbers.

Making direct deposit

Some employers use cheques to pay their staff, while others provide direct deposits. The benefit of direct deposit is that you can get your money faster than if you received a check. You can set up a free direct deposit, saving you from going to the bank.

It’s important that you fill out a form at work to specify where you want your money to go to obtain a direct deposit. In addition, account numbers aren’t sufficient when setting up direct deposits.

Therefore, you must provide your routing number. This ensures your employer sends your paycheck to the right branch that manages your account.

Facilitates wire transfers

You can use wire transfers safely to transfer money from one bank account to another if you need to transmit it quickly. Compared to ACH transfers, this is usually faster.

Your routing number and account numbers are required to transfer money between bank accounts. In addition, you’d also need the routing number and account number of whoever you’re sending the money to.

Transfer of money between banks

You must include your bank’s routing number when transferring money from one bank account to another. This helps to identify the financial institution that receives the money.

When opening an online checking or savings account, you also need a bank’s routing and account numbers that you use in person. With this, you can now transfer money between different bank accounts.

When to use your routing number

You use routing numbers more frequently than you may imagine. In fact, it’s likely that you’ve already used your routing number without even realizing it. The following are situations that call for the use of your route number:

  • Wire transfers
  • CRA direct deposit setup for tax payments or refunds.
  • Setting up direct deposit with your employer
  • Transfers between two accounts at a bank
  • Regular, automatic loan and bill payments

Only transactions entering or leaving directly from your bank account require a routing number. They are not necessary when using debit or credit cards to make purchases.

How to find a BMO routing number conclusion

Routing numbers allow banks to locate your precise account while processing paper cheques, sending money between branches, or making digital payments.

When moving money between bank accounts, routing numbers are required. Your routing number may be useful in the future, even if you have never used it.

We hope you now know how to find your BMO routing number with the help of this article. Once you’ve located the routing number for your bank account, you should save it somewhere you can easily retrieve it whenever you need it.

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FAQs about how to find a BMO routing number

Can a routing number BMO change?

Changes in routing numbers differ between banks, just as different transactions can have different routing numbers. Therefore, it’s important to check with your bank to be sure the number is right for that wire transfer or ACH payment.

Routing numbers and swift code, are they the same?

Despite having similar functions, a routing number and swift code are not the same. Banks, credit unions, and other financial organizations in Canada transmit money domestically using routing numbers. In contrast, swift codes allow international wire transfers and are typically 8-11 alphanumeric identifiers. If you send money internationally, you will require a bank’s swift code to complete a transaction.

When can I use my routing number?

When you apply for life insurance, you must provide your routing number. Once your new policy is sent to you, the routing number will be on the delivery receipt. When you accept the offer, you must fill out a pre-authorized debit (PAD) or pre-authorized cheque (PAC) form for your insurance carrier. These AFTs, PADs, and PACs use routing numbers to determine which account they are attempting to withdraw funds from.

What is a 9-digit routing number BMO?

In Canada, the name for bank codes is a routing number. Routing numbers have eight digits and a dash between the fifth and sixth numbers. There is a dash between the fifth and sixth numbers for paper financial documents encoded with magnetic ink character recognition. For electronic funds transfers, there are nine numbers with no dashes.

Why do I need a BMO bank routing number?

A BMO routing number indicates where you first opened a specific BMO account. Plus, it aids in properly routing funds, whether you’re sending or receiving. If you don’t have the right routing numbers, it may be difficult to make any payment.

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April 5, 2023
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