BMO international transfer: Fees, Limits and Exchange Rates [2026 Guide]

Looking to learn more about making a BMO international bank transfer? You’re in the right place. This guide covers how to send money overseas with BMO, the BMO exchange rate and fees, and the available countries and currencies.

BMO is one of Canada’s Big 5 banks - and has been around for over 100 years. However, when it comes to sending an overseas transfer, BMO might not be your best bet. Specialist services like Wise and OFX may be able to offer a faster service, with lower overall fees.

🇨🇦 Key info on transferring money overseas with BMO

BMO international money transfer comparison

Before you transfer money abroad with BMO it’s important to know there are several different potential fees:

• Transfer fee - upfront fee, paid to BMO - often the smallest charge levied 💰

• Exchange rate markup - a percentage rolled up in the exchange rate 📉

• Third party fees - paid to other banks involved in processing your transfer through the SWIFT network 🌐

To give an idea of how BMO compares with other payment services, let’s look at an example. Here’s what you’d pay if you were sending a standard online transfer of 1,000 CAD to a USD denominated account, with BMO’s Global Money Transfer tool compared to a few specialist services.

*Information correct at time of writing - 23rd June 2026

*The speed of transaction claims depends on individual circumstances and may not be available for all transactions

BMO international money transfers made through the Global Money Transfer service have a pretty low upfront fee of 5 CAD. However, it’s useful to know you’ll also be paying an exchange rate markup which pushes up costs - and further fees may be deducted by intermediaries as the payment is processed. This can mean your recipient gets less than you’re expecting in the end.

Specialist services like Wise and OFX may have more transparent charges which can work out cheaper overall, and are also easy to use online and in-app.

About BMO Global Money Transfer

BMO Global Money transfer is the online and in app payment service from BMO, which lets you send money from your BMO account to other bank accounts in 70+ countries.

There’s a flat transfer fee in this case, which can be cheaper than sending your money by wire in a BMO branch. 🏛️

BMO international transfer fees

There’s no BMO transfer fee for sending money overseas online with the Global Transfer service to accounts held by BMO in the United States, or if you have one of the following bank plans:

• Premium Plan 💎

• Platinum Plan 💳

• Performance Plan 📈

• Plus Plan 👍

• Blue Rewards Plan 🔵

However, even if you’re covered by either of these fee waivers you’ll still need to pay the exchange rate markup, and any relevant third party costs will be deducted from the transfer amount while it’s being processed.

Here’s a full rundown of BMO’s standard international remittance fees:

*Information correct at time of writing - 23rd June 2026

BMO exchange rate 🔀

All international payments arranged through BMO will use the standard BMO exchange rate. That’s not necessarily the same as the mid-market exchange rate - which is the one you’ll see if you use a currency converter tool or a simple Google search.

While banks buy currency themselves with the mid-market rate, they don’t normally pass this rate onto customers. Instead, they’ll add a markup to calculate the retail rate used when sending an international money transfer. Markups vary by currency but can be in the region of 3%. That doesn’t sound too bad, but quickly mounts up - here’s an example:

• Sending 1,000 CAD - the exchange rate markup adds 30 CAD to the total

• Sending 5,000 CAD - the exchange rate markup adds 150 CAD to the total

• Sending 50,000 CAD - the exchange rate markup adds 1,500 CAD to the total

As you can see, the exchange rate markup can quickly become the highest fee you’ll pay - especially when sending higher value amounts.

Need a cheaper alternative? 💸

Banks routinely include hidden costs within their currency conversion. When comparing international money transfer options, it’s vital to calculate both the upfront transfer fees and the percentage markup applied to the exchange rate. 📊

*Information correct at time of writing - 23rd June 2026

How long does a BMO international money transfer take ⏱️

BMO international transfers tend to take up to 5 working days to arrive. That’s common with banks which process transfers through SWIFT.:

Need a faster alternative? 🚀⏳

 Specialist services can often get your money moving faster - here’s how they comparison of how long international transfers take:

*The speed of transaction claims depends on individual circumstances and may not be available for all transactions

Pros and cons of transferring money abroad with BMO

Instead of using BMO, take a look at specialist online services like Wise or OFX, which may be able to offer an easier and faster online or in-app service.

More about the alternatives to BMO international wire transfers

It’s worth comparing BMO against some alternatives before you arrange your overseas transfer. BMO has a flat fee for online transfers, but there can also be additional costs rolled into the exchange rate, plus delivery times are fairly slow.

Choosing a specialist provider can be a great move if you want to avoid the potential high costs and slow speeds of bank networks. Companies like Wise, OFX, and Remitly operate differently by managing their own local bank accounts in countries all over the world. Your money rarely has to cross borders via the SWIFT network, which eliminates unexpected intermediary fees and helps your transfer land much quicker. 🚀

*Information correct at time of writing - 23rd June 2026

Wise 

Open a Wise account online or in app, to send payments to 140+ countries, quickly or even instantly.

Currency conversion uses the mid-market rate with low fees from 0.48%. Set up your payment with just your phone, and pay from your bank account or with your card. While the amount you can send does depend on how you pay, you could arrange transfers to the value of 1.5 million CAD if you need to.

If you send and receive payments a lot you may also want to open a Wise account that lets you hold and exchange 40+ currencies and receive international transfers with local and SWIFT account details in a selection of currencies.

OFX 

OFX lets Canadian customers send 50+ currencies all over the world, by phone, in the app or online. Transfers can arrive quickly, and are usually in the recipient’s account in 1 or 2 days.

There’s a transfer fee of 15 CAD for payments under 10,000 CAD in value. This fee is waived for higher payments. In all cases,  a small exchange rate markup is applied to the mid-market rate to calculate the exchange rate used to convert your CAD to the required currency.

OFX also offers more complex currency risk management products and  24/7 phone service.

Remitly

Remitly allows Canadian customers to send money to over 175 countries using their website or mobile app. Senders can choose from a range of flexible delivery methods that include bank deposit, cash pickup, mobile wallet, or home delivery, while choosing between a faster Express speed or a more affordable Economy option. 📱

Funding your payment with a debit or credit card via the Express route means your funds can land within minutes, though this path carries higher card processing costs.

On the flip side, funding via an Economy bank account transfer reduces the upfront fees, but delivery may take up to several working days. Transfer fees vary depending on the destination, currency and payment method but include a markup on the mid-market exchange rate. 🎯

📈 BMO Global Money Transfer limit

BMO international transfer limits can vary depending on your account type. As a personal customer, you’ll be able to send amounts from 100 CAD online, but you’ll need to check the applicable upper limit for your account by logging into online banking. This upper limit is determined by your debit card limit. 💳

Need to send a larger transfer?

When you are moving a significant sum of money across borders, such as paying for an overseas property, maximum caps vary widely depending on the provider you choose.

*Information correct at time of writing - 23rd June 2026

Large amount transfers with BMO

The amount you can send with BMO Global Money will depend on the limits set on your debit card. This may also vary depending on the account type you hold with BMO. You can see your card - and transfer - limits on the BMO app or mobile banking services. 📲

If you need to send an amount higher than your BMO online limit, you may still be able to arrange a wire transfer instead of a BMO Global Money payment. To do this you might need to call the bank or visit a branch - and higher fees apply. 🏛️

➡️ You can compare different providers from this page: Large amount international money transfers

BMO large transfer fees 🔍

If you want to send a higher value transfer with BMO and need to arrange a wire, this has a fee of 40 CAD. There may also be additional costs which are included in the exchange rate used for your payment.

This cost - known as a markup - is a percentage fee - so when you send a high value payment, it can mount up very quickly. Compare the fees from BMO against other providers, looking carefully at the exchange rate costs, to decide if it’s a good option.

💡 Here is a guide on How to avoid international wire transfer fees

How to make an international transfer with BMO

You can transfer money overseas with BMO online, via your mobile device, or in a branch. If you’re in a branch the service team will guide you through arranging your transfer - but higher fees will apply compared to sending your money online with the Global Money Transfer service.

Here’s how to set up your payment on the BMO online and mobile banking service:

• Sign into your BMO banking service

• Select Pay & Transfer

• Select Global Money Transfer

• Enter the details of the recipient, currency and amount you want to send

• Confirm and your money is on the way

What information do you need to make an international transfer with BMO?

When you arrange your international payment with BMO you will need:

How to send a large amount transfer with BMO

If the amount you’re sending with BMO exceeds your account’s debit card limit, you will need to arrange a wire payment instead.

This can be done in a branch or by phone, and has a fee of 40 CAD plus exchange and third party costs as necessary.

Learn more: How to send large amounts of money internationally

🌍 BMO Global Money Transfer countries you can send money to

Here’s the full rundown of countries and regions served by BMO global money transfers:

📥 How to receive an international transfer with BMO

To receive an international payment into your BMO account, you’ll need to give the sender:

BMO receive international wire transfer fees 🏦

The BMO receive fees for international wires run to 16 CAD. This means that every time you get a payment from abroad to your BMO account, 16 dollars will be deducted from the amount before it’s deposited.

BMO SWIFT code

When you send or receive an international transfer you’ll usually be asked to use a SWIFT code. This is a unique identifier assigned to banks around the world which is used to guide payments to the right place - like a postal code for your international payment. Remember to pass the BMO SWIFT/BIC code to anyone sending you a payment from overseas to avoid delays in receiving your money.

BMO bank address for incoming wires

If someone is sending you a wire transfer from abroad into your BMO account, they will need the correct banking address alongside your personal banking details to ensure the payment routes without any issues. 🏦

How to track your bmo transfer📱

You can easily follow the progress of your payment directly from your account.

To check your transfer history:

1. Sign into the BMO Mobile Banking app or log into your portal on BMO Online Banking. 💻

2. Navigate to the main menu and select Pay & Transfer, then choose Global Money Transfer.

3. Select Global transfer history to review the real-time status of all your payments. 📂

When monitoring your transfer, your transaction will display one of these updates:

• In progress: BMO has initiated the payment network, but the receiving financial institution has not yet accepted or credited the funds to the recipient's balance. ⏱️

• Success: The receiving bank has successfully accepted the transfer and cleared it for deposit into the recipient’s bank account. ✅

• Rejected: The transfer did not clear compliance checks or network routing. The full amount will be credited back into your banking balance, including any upfront service fees. 🛑.

💼 BMO Global Pay for international business payments

If you’ve got a business account with BMO you could also choose to use BMO Global Pay for businesses. This service allows eligible account holders to send money online and in app, with lower overall costs compared to some other options available from BMO, although the exact fees do vary depending on the destination.

• Send money to 30+ countries with delivery in 1 to 2 days

• BMO Global Pay for businesses could be cheaper than alternative options like sending a business wire

• Exchange rates include a markup which may be different to the rate offered for alternative payment types

• Transfers are secure and arranged online

How to use BMO Global Pay

You can use BMO Global Pay for business in your BMO online banking service. Just log into your account, and enter the details of your transfer. If it qualifies for BMO Global Pay for business you’ll be notified on the screen, and you can also see the instructions to process your payment securely.

BMO customer service 💬📞

Here’s how to get in touch with BMO customer service if you find you need help with an international transfer:

Conclusion: Is BMO a good option for international wire transfers? 🏁

BMO international money transfers can be made online, in the BMO mobile banking app or by visiting a branch. The cheapest and most convenient way to send money is online or in the app - but even then you’ll need to pay an extra fee rolled up into the exchange rate applied, plus any relevant third party charges.

Overall, you might find you’re better off choosing a specialist service like Wise, OFX, or Remitly instead of using your bank. Transfers might well be faster, and could work out cheaper, too.

📚 Useful resources

• BMO Global Money Transfer: Guide to making BMO Global Money Transfers

• BMO fees: BMO fees for everyday banking

• Wise Large Transfers: Wise guide for sending high-value payments

• OFX International Transfers: OFX overseas transfer information for Canada

• Remitly International Money Transfers: Official page for Remitly Canada