BMO Financial Group Reviews 1,171

I’m with BMO for over 25 years, personal accounts, credit cards, business accounts. Not a single time ever I was late with the payment on my credit card even after my husband passed last year and I was in a financial crisis, still paid everything on time. Sold my house, paid off the full balance on my credit cards and the next thing is BMO reduced my credit limit on my credit card from $43,000 to 1,300 without notification or explanation. Newcomers get higher credit limit. Credit score is good, no debts. There’s no reason to do such a drastic reduction in limit. Asked their representative and then supervisor to explain the reason for their decision and the answer was Bank of Canada required them to decrease people’s credit limit and that’s what they did it. You can’t even book airline tickets with such a limit. I filed a complaint and planning to go the full way with this including ombudsman complaint but I definitely moving all my accounts to another bank. That’s absolutely unacceptable to treat your loyal customers the way BMO does. I want to make it as public as possible. Still can’t believe they did this to me

Old school bank. You must transact only by recipient email. BMO charged me CAD 5.00 for e-transfer cancellation !!!! Wow, I’m shocked. It’s long time I have an account with another bank and it have not happened to me so far. I am still with BMO only for my mortgage . I never suggest this bank.

I recently discovered that my credit card account with BMO was closed on March 31st. I found this out after attempting to make a payment through the card, which inexplicably failed. When I logged into my account, there were no alerts, no messages—everything appears normal. It was only after some investigation that I came across a physical letter from BMO disclosing the closure.

To be clear, the letter was sent some time ago, but I don’t treat paper mail as a primary channel for urgent financial communications, especially from an institution that regularly floods me with worthless savings account promotions, and when I have an excellent credit score with an account in good standing, and automatic payments in full setup. The absence of any digital notification—no email, no text, no secure message—was a deliberate failure in communication strategy, not a one-off oversight. In 2025, this is unacceptable.

The only explanation provided was a vague clause allowing them to close accounts “at any time.” That’s not a justification—it’s an abdication of responsibility.

This isn’t my first issue with BMO. During their acquisition of Bank of the West, they lost my billing information, then attempted to charge me interest on a balance that should have automatically been paid in full without any notification that they no longer had my billing information. That incident should have been a clear warning.

I maintain an excellent credit score, use my card regularly, and have never missed a payment. Evidently, that counts for little. Trust and reliability are supposed to be foundational in a financial relationship—BMO has made it clear they value neither.

To add to the inefficiency, their cashback system is designed with outdated restrictions. You can only redeem in $5 increments, with no option for a statement credit or external transfer. You can only withdraw to a BMO account, (like I'd be naïve enough to open at this point) It’s an unnecessary limitation that benefits no one but the issuer.

I’ll be closing my remaining accounts with BMO—not out of frustration, but because this is a company that cannot be relied on to perform the basic functions of a modern financial institution. Their systems are opaque, their communication strategy is obsolete, and their treatment of customers is indifferent at best.

There are plenty of competent, transparent financial institutions available. BMO is not one of them. Proceed accordingly.

They cancelled my Credit card for no reason. "Just a business decision" They did not inform me they did so until I called them. Then they kept my rewards!

In 2019, I bought a brand new Toyota Corolla Hatchback, BMO was the bank that loaned the purchase.
In March 2025, I got into a car accident and my car was declared a total loss, my insurance cut me a cheque for 20k (i had 11,500, left to pay on my loan) so they cashed the cheque and teller told me the funds would be frozen for 10 business days, I was a little annoyed but whatever, procedures are procedures... 10 business days later, still frozen. So I call, they said that the teller gave me the wrong information, that it is in fact 15 business days, so i've been on the phone with MULTIPLE agents, made a complaint (no follow ups), i finally gave in when they told me that the funds would be unfrozen and available to use on April 22nd.. well we are April 22nd and funds are STILL frozen, I called, they said that the process could take some more time, no clear explanation as to why, apparently my case has been excalated higher, with no clear answer. Keep in mind that i've been on foot ever since mid March at this point, lost hours at work, lost work days, been suffering from stress and lack of sleep, anxiety.

When I say never use bmo for ANY banking services.. i say NEVER!!!!!!!!!!!
ridiculous! Their agents are dumb, their employees are CLUELESS and UNHELPFUL.

Foreign Canadian bank. Canceled my account without notice for no stated reason. I assume in retaliation for US trade policy they do not like. This bank should be prohibited from doing business in the USA.

BMO release a credit card to my wife with a credit limit of $6500,But when she have a credit of $300 ,all the next transactions are all decline..What kind of bank is that?So very stingy and clever...sloppy...My wife plan is to close that credit card ,such a disappointment...

DO NOT USE BMO Bank. I have a credit score of over 800 and never made a late payment. I have had this credit card for more than 15 years (previously Bank of the West.) BMO closed my credit account with no notification and no explanation. They have a clause in their account agreements that says they can do this whenever they want and by using them, we agree to it. When I called the credit department for an explanation, two different agents told me that they mailed an explanation letter on two different days. I went into a branch, and they also could not give me an explanation. I still have not received any letter of explanation from them and nothing in the APP or online shows that my account is closed. At Bank of the West my interest rate was 9.9%. When BMO took over my account two years ago, they raised my interest rate to 14.99% overnight with no explanation. This is by far the worst customer service I have ever seen.

BMO bought out the bank I have banked at since the early 2000s. I have continued to use my credit card since, until this week when it was abruptly cancelled and I only learned about it when a standing order contacted me for payment update. No reason was given. I always pay early, so it’s not that. This is terrible customer service. Cannot recommend them for any reason.

They gave me a $12,000 credit line on my new credit card. After 10 days they abruptly closed my account. I went to pay $8 for my dry cleaners. It was denied. I called BMO and spoke with a supervisor - they wouldn't even give me a reason. Very unprofessional. I paid a payment of $500 10 days early on my first credit card bill, more than 10 times the minimum payment. If I could give them a 0.000001 star rating I would. They have A+ TV commercials, don't believe them. Stay far away from them, for your own good.

I used my card every single day as my primary card, and they canceled it without notice even though I never had a late payment. Hands down the worst treatment I've received from a bank in my 25 years of having credit cards.

Was moved to BMO from Bank of the West and have had their credit card for around twenty years, never been late on a payment and have excellent credit, today I found out they cancelled our cards, for no reason. Just told they have it in their terms they can do that at any time. Wondering since BMO is Canadian to some degree if they cancelled Americans. Insane! Or maybe just the Bank of the West customers. And, they won't let me redeem my reward dollars. Complete jerks!

Canclled my card about 10 times over random transactions. Made me go into BMO to figure it out, I ended up getting stuck in Spain with a locked card and no money to my name.

Friendly patient and caring with my banking issue she resolved the problem I was very pleased with Mary's service from Ingersoll Branch.

They cancelled my credit card without my knowledge or authorization. Gave me the runaround for months. Took 3 months to get a new card because they claimed they mailed it but never did which after speaking to multiple people finally confirmed it never was mailed. And now 4 months later they're doing it to me again. Worst company I've ever dealt with.

the worst service experienced i got from calling the line concerning the mail i got from the bank, just answering it "hello" i thought i was calling a home number and not having inform me of "letting the other person in the line that i am dealing with the bank". it was just when i asked if i am calling the bmo and she said "yes this is the bank of montreal".
so disappointed that it looks like i need your services, just because i cant accessed my online banking and having a balance of $114.90 will lowered my credit limit to the smallest amount that can't even help to survive a week. i never asked for this card, just enticed by the constant emailed receiving from you end to apply....now, i dont need your service, please make sure that if you got my full payment, disregard and cancelled my card, i dont like to do business again with you guys. thank you very much, maybe you could asked and re-trained the people answering your calls, especially if its concerning "making the customer/s to have an option of staying, or winning them back, rather than continuing on leaving due to a poor customer's relations skill", i am not asking to be treated special, but the other institutions/banks help support teams, will make sure that they will win the customer who experienced disappointment on some issues regarding their banking isssues. this lady who i spoke today (maybe the tone of my voice is a plus factor but that's the usual me,"quite loud but not rude"she just let it go and end, making sure the call ends faster so the conversation will be cut right away.

I called customer service to simply have a damaged credit card replaced. I was asked several security questions which is normal but went on for several minutes. I was then told to listen to a recorded message about privacy, credit checks etc. which went on for several more minutes. I was then asked more security questions, and when this was over, I was asked to pass the phone to my wife, who is also on the card, and they proceeded to do the same to her. I have banked with BMO for over 30 years, and this is absolutely ridiculous. The customer service rep could hardly speak English and was not pleasant at all. Terrible customer service and after all these years it may be time to switch

Calgary Marlborough Branch: excellent business advice provided by staffer, Mr. Fares M. He was cordial and very knowledgeable - a manager in the making!

I am settling an estate that spans several banks. BMO has been significantly worse in customer service (knowledge, responsiveness, wait times for processing requests, availability of financial advisors which are required for every single appointment related to the estate.) To put it in perspective, the other banks I'm working with have completed all of my requests, closed, and consolidated accounts within one month. After two months time, BMO has completed closing of two accounts while three others remain open and have not been processed. There is no difference between number and types of these accounts and those held at the other banks. I've spoken with the branch manager who argued with me over documentation required. I was right in this argument and the manager eventually conceded (estate lawyer backed up my claim.) Just a terrible experience with this bank. I can't wait to be done with this step and I've at least learned to stay away from BMO - especially if you are at the age where your estate would need to be settled in the near future. Do your trustee and beneficiaries a favour and choose another bank!

I had an appointment with Ms. Krisman at the BMO on Big Bay Point road in Barrie to redeem my parents GIC. I was travelling from out of town and she left a message to delay my appointment to a later time. Found out on arrival that she delayed my appointment so she could go to the passport office? Doing personal errands on work time? She informed me that she could not help me because the POA for my elderly parents was incorrect and that I had to arrange an appointment to complete the bank paper work again. I went through my hometown branch and found out the POA was correct. The Big Bay Point BMO appointment was a waste of my time.