Bank of MontrealReviews of capitalmarkets.bmo.com

I am sharing my experience with the Bank of Montreal (BMO) because I believe prospective customers deserve to understand how a bank may treat them when they become victims of fraud. On August 12, 2026, my BMO accounts were compromised through a sophisticated impersonation scam. A fraudulent $10,000 cheque was deposited into my savings account, funds were transferred between my accounts, and 18 Interac e-Transfers totalling $9,550 were initiated. These are not simply allegations. BMO’s own final complaint decision, dated October 14, 2026, confirms the fraudulent cheque deposit, unauthorized activity I reported, and the involvement of a third party impersonating its Fraud Department. BMO recovered $4,001 but refused to reimburse the remaining $5,999. According to BMO’s investigation, a new device accessed my online banking, my password was changed, my account alert settings were modified, and transfers were sent to recipients who were not previously in my contact list. Despite these circumstances, BMO concluded that its security systems operated as intended because the required authentication steps had been completed. I strongly disagree with the bank’s decision and question why this sequence of unusual account activity was not prevented. However, the financial loss was only the beginning of my experience. Following the incident, BMO restricted my chequing and savings accounts, as well as my credit cards. Two subsequent Government of Canada pay deposits totalling approximately $8,010 entered my accounts, yet I reported being unable to access those funds while the dispute continued. This created significant financial difficulties. I was unable to conduct normal banking activities while continuing to receive requests for payment on my banking products. Then, on September 14, BMO issued a formal overdraft notice demanding payment of $10,092.23 arising from the returned fraudulent cheque. That letter warned of possible account closure, legal action, referral to collections, and negative credit reporting. Consider that situation: I reported being the victim of fraud, lost access to my normal banking services, and subsequently received a demand for repayment accompanied by warnings about potential damage to my credit. In its October 14 final decision, BMO maintained its refusal to reimburse the $5,999 and stated that restrictions on my accounts would only be reviewed once the negative balance had been covered. BMO offered a $1,500 goodwill credit, conditional upon accepting its proposed resolution, but expressly stated that the offer did not constitute an admission of responsibility. I have escalated my concerns to the Ombudsman for Banking Services and Investments (OBSI). My greatest concern is not simply that fraud occurred. Fraud can happen at any financial institution. My concern is how BMO treated me after I became a victim. I expected a bank entrusted with my salary and savings to provide meaningful support, clear communication, fair consideration of the unusual transactions, and reasonable access to my legitimate funds while the dispute was being addressed. Instead, my experience has been characterized by prolonged restrictions, financial uncertainty, threatening collection correspondence, and a final decision that I believe fails to adequately consider the circumstances. If you are considering opening an account with BMO, I encourage you to consider how important your bank’s response to fraud would be to you. For me, this experience has fundamentally damaged my confidence in the Bank of Montreal. I cannot recommend BMO based on the service and treatment I have experienced.

Someone gained access to my account. They frauded me by adding a triangle card and rogers card as a payee and proceeded to transfer the funds from my account to the other accounts. When I opened a fraud investigation with BMO it took them 2 weeks to respond. Finally after 7 weeks with nothing to back up their claim they said it was a scam and not fraud and they consider it a closed case. For the record, my new banks asks to verify when adding a new payee before letting you send them money and NO ONE from bmo flagged that all of my money was being moved. They also frauded my credit card from bmo as well. When I called bmo credit card ( since its 2 different companies) they "said they would open an ivestigation" 2 weeks later when I asked for a follow up they had not even begun to investigate the frauded credit card. AVOID BMO AT ALL COSTS. Their customer service hangs up on you and the AI prompts do nothing to assist you when you need fraud assistance.

Absolutly terrible bank worst customer service terrible account management bank managers that dont do there job ive had nothing but a absolut nightmare with this amature hr bank . it should be closed. holding people money calling it suspiciouse when everything is 1000% legal legit and never one cent has been part of anything illigal . im fed up with the lack of respect to its customers and im doig my best to get this bank out of my life forever . garbage 100

I would sooner bury my money in the backyard then deal with BMO.

They keep closing their branches and making things more difficult for seniors

The Bank of Montreal is reliable and transparent but its interest rate decisions can feel slow and sometimes disconnected from everyday financial struggles and its rates are quite high

1-Star Review — My Experience With BMO (Bank of Montreal) ATM location: 2104 Larch Ave, Vancouver, BC V6L 0C3 I have never experienced customer service as disappointing as what I went through with BMO. What happened to me on October 21 was not only stressful and costly but handled with a level of disorganization and indifference that shocked me. While using the ATM at the Arbutus branch early that morning, I deposited $760 in cash. The machine counted the full amount, then suddenly flagged “items could not be validated,” returned a single $10 bill, and timed out—without depositing the remaining $750 into my account. I had made similar deposits at other banks without any issue, so this was unexpected and immediately concerning. What followed was worse. When I called BMO’s customer service line, I was met with a cold, dismissive response and told my case would be forwarded to “investigations.” No empathy, no reassurance—just that I might see the money in 7–12 business days, or possibly never. I had to ask for a case number; it was not offered. I went to the branch later that morning, hoping for real help. Instead, I was told there were no cameras in the ATM area and no branch-level reconciliation of ATM funds. When I asked to speak with the manager, I was handed his card and told he wasn’t available. I called twice and left messages—no reply. After waiting the full 12 business days and hearing nothing, I called BMO again. That’s when I learned—only because I asked—that my case had been closed without any notice to me. And the reason? Investigations had reached out internally to confirm whether this was a BMO-owned ATM and received no response, so the case was incorrectly closed as a non-BMO ATM, which it absolutely was not. This was not a small clerical mistake. It was a complete breakdown in process and communication. Every follow-up call after that led to the same empty promise: “Someone will escalate this.” “Someone will contact you within two days.” No one ever did. After this experience, I feel that BMO showed no accountability, no urgency, and no respect for me as a customer. Losing $750 because of an ATM error was bad enough—being met with silence, misinformation, and zero follow-up made it far worse. I plan to continue pursuing this through the appropriate channels, but based on my experience, I cannot recommend banking with BMO. The lack of support and professionalism I encountered was unacceptable.

My daughter is a British national working in Canada , She is paid by Bank transfer but it would seem for some reason they won't let her have full access to her money (her money ) which means she has money on hold and is struggling to pay her way sometimes, Can't really understand why nor can she