Yes, you can close most BMO accounts online, but the process depends on your account type and whether you have outstanding balances

BMO lets you close checking and savings accounts through their online banking portal or mobile app without calling or visiting a branch. The actual closure usually takes a few business days after you submit the request, and BMO will send you written confirmation. However, if your account has a negative balance, pending transactions, or linked services like automatic payments, you may need to resolve those first or contact BMO directly.

The online closure option works fastest when your account is in good standing — no overdrafts, no holds, no active direct deposits or bill payments tied to that account. If you have any of those complications, the process shifts to a phone call or branch visit, which adds time but often solves the problem faster than going back and forth online.

Key Takeaways

  • You can close most BMO checking and savings accounts through online banking or the mobile app by navigating to account settings and selecting the closure option.
  • Your account must have a zero or positive balance, and all pending transactions must clear before BMO will process the closure.
  • You should cancel or redirect any automatic payments, direct deposits, or bill payments linked to the account before you request closure.
  • BMO typically confirms closure in writing within a few business days, and you should keep that confirmation in case questions arise later.
  • If your account has a negative balance or you cannot access online banking, you will need to call BMO or visit a branch to close the account.

Steps to close your account online

Log into BMO online banking or open the BMO mobile app and navigate to your account settings or account management section. Look for an option labeled "Close Account," "Account Closure," or similar language — the exact wording varies depending on whether you are using the website or app. Select the account you want to close from your list of accounts.

BMO will show you a checklist of things to do before closure: confirm your balance is zero or positive, verify that no pending transactions are waiting to clear, and confirm that you have removed or redirected any automatic payments. If everything is clear, you will see a final confirmation screen. Review the details, then submit your closure request. BMO will send you an email confirmation with a reference number.

Do not close the browser or app when ready after submission. Take a screenshot or write down the reference number — you will need it if BMO asks questions or if you need to prove you requested closure. The account will remain open for a few business days while BMO processes the request and ensures no additional transactions post to it.

What to do before you request closure

Check your account balance and make sure it is zero or positive. If you have overdraft protection or if your account is overdrawn, BMO will not let you close it online. You will need to deposit funds to bring the balance to zero, or call BMO to discuss your options.

Cancel or redirect any automatic payments that are set to come out of this account. This includes bill payments, subscription renewals, insurance premiums, or any other recurring charge. Log into each service (your utility company, insurance provider, subscription service, etc.) and update the payment method to a different account or card. Do this at least a week before you request account closure, because some services take time to process the change.

If you receive direct deposit paychecks or government benefits into this account, update your employer or benefits administrator with your new account information before you close the old one. Direct deposit changes can take one or two pay cycles to take effect, so do this early. If you close the account and a deposit arrives after closure, the money will be returned to the sender, and you will have to contact them to resubmit it.

Review your recent transactions and make sure nothing is still pending. Pending transactions can block closure. If you see a transaction that has been pending for more than a few days, contact BMO to ask them to clear or cancel it.

When you cannot close your account online

If your account has a negative balance, BMO will not allow online closure. You must call BMO or visit a branch to discuss the overdraft and arrange payment. Once the balance is zero or positive, you can request closure online, or BMO can close it for you during the phone call.

If you do not have access to online banking — for example, if you forgot your password and cannot reset it, or if your account is locked for security reasons — you will need to call BMO or visit a branch. BMO's customer service line can close the account over the phone once they verify your identity. This usually takes 10 to 15 minutes.

Some account types, like business accounts, investment accounts, or credit lines, cannot be closed online. If you are trying to close one of those, BMO will direct you to call or visit a branch. The same applies if your account is linked to a mortgage, line of credit, or other BMO product — closure may affect those services, and BMO wants to discuss that with you first.

What happens after you submit your closure request

BMO processes the closure request over the next few business days. During this time, the account remains open and can still receive deposits or payments, but you should not use it. If a transaction posts to the account after you have requested closure, it may delay the process.

You will receive written confirmation of the closure by email or mail, depending on your communication preferences. This confirmation will include the date the account was closed and a reference number. Keep this confirmation for your records — it proves the account is closed and can help if a company later tries to charge the account or if you need to dispute a transaction.

Any remaining balance in the account will be mailed to you as a check, usually within one to two weeks after closure. Make sure your mailing address on file with BMO is current. If you do not receive the check within three weeks, contact BMO with your closure confirmation number.

Frequently Asked Questions

Will closing my BMO account hurt my credit score?

Closing a checking or savings account does not directly affect your credit score because those accounts do not appear on your credit report. However, if you close an account that is linked to a credit product like a line of credit or overdraft protection, closing it may have a small impact. Contact BMO if you are unsure whether your account is tied to a credit product.

What if I close my account and then need to access old statements?

BMO keeps records of closed accounts and can send you statements after closure. You can request old statements by calling BMO or visiting a branch with your account number and closure confirmation. There is usually no charge for statements from a closed account, but timing can vary.

Can I reopen a BMO account after I close it?

Yes, you can open a new BMO account at any time. However, reopening the exact same account number is not possible — you will open a new account with a new number. If you closed the account in good standing, there are usually no barriers to opening a new one.

What if a company tries to charge my closed BMO account?

Once the account is closed, charges cannot post to it. The charge will be rejected, and the company will receive a notification that the account is closed. Contact the company to update your payment method. If you see a charge attempt on your closure confirmation or final statement, report it to BMO.

How long does it take for my account to fully close?

Most BMO accounts close within three to five business days after you submit the online request. You will receive written confirmation once it is complete. If you do not hear back within a week, contact BMO with your reference number to check the status.