You can close a BMO savings account by phone, in person, or online, depending on your account type and what BMO calls it

The fastest way to close a BMO savings account is to call BMO customer service at 1-800-363-9992. Tell them you want to close the account, and they will walk you through it on the call. If you have money in the account, they will ask where you want it sent — to another bank account, as a check, or to a BMO account you keep open. You do not need to visit a branch unless you prefer to, though you can.

Before you call, make sure the account has a zero balance or that you know where you want the remaining money to go. If you have automatic payments or direct deposits set to that account, you will need to change them first, or they will fail after the account closes. BMO will not close an account with pending transactions, so give those a few days to clear.

The whole process usually takes one phone call, though the money may take a few business days to reach you if BMO is mailing a check.

Key Takeaways

  • Call BMO at 1-800-363-9992 to close your account; this is faster than visiting a branch.
  • Move any money out of the account first, or tell BMO where to send it during the call.
  • Stop any automatic payments or direct deposits linked to the account before closing it.
  • If BMO mails a check, it may take five to ten business days to arrive after the account closes.
  • You can also close the account in person at a BMO branch if you prefer to speak with someone face-to-face.

What to do before you call BMO

Check your account for any pending transactions. If you have automatic bill payments, subscription charges, or direct deposits coming to this account, they will bounce or fail once the account is closed. Log into your BMO online banking or mobile app and look at the last few weeks of activity to see what is set up.

Make a list of any automatic payments or direct deposits tied to this account. You will need to update them with your new bank account number before closing, or contact the companies sending the money to change where it goes. This includes your employer's payroll, government benefits, insurance refunds, or any monthly bills you pay from this account.

Decide what to do with the money. If the account has a balance, BMO will ask you during the call whether you want them to transfer it to another BMO account you own, transfer it to an account at a different bank, or mail you a check. Have that information ready so the process moves faster.

Closing the account by phone

Call 1-800-363-9992 during BMO's customer service hours. You will need your account number and a form of ID to verify who you are — they may ask for your Social Security number, date of birth, or other information from your account. Have your account statement or debit card handy so you can give them the account number quickly.

Tell the representative you want to close your savings account. They will confirm the account balance and ask what you want to do with any remaining money. If you want it transferred to another account, have that account number and routing number ready. If you want a check, give them a mailing address. If you want it moved to another BMO account you own, just tell them which one.

The representative will process the closure on the call. They will give you a confirmation number — write it down. Ask them how long it will take for the account to fully close and for any money to reach you. If they are mailing a check, ask for an estimate of when it will arrive.

Closing the account in person at a branch

You can walk into any BMO branch and ask to close your savings account. Bring your debit card and a photo ID. The branch staff will verify your identity and pull up your account on their system.

Tell them you want to close the account. They will show you the balance and ask what you want to do with it. You can request a check on the spot, transfer it to another account, or move it to a different BMO account you have. If you ask for a check, they may be able to print it right there, or they may mail it to you — ask which option they offer.

The branch will give you a receipt or confirmation number. Keep it until the account is fully closed and the money reaches you.

What happens after you close the account

Once BMO closes the account, you will no longer be able to use the debit card or access it online. Any automatic payments or direct deposits you did not update will fail, so make sure you have moved those before closing.

If you requested a check, it will arrive by mail within five to ten business days, depending on where you live. If you requested a transfer to another bank, it may take one to three business days. Transfers between BMO accounts usually happen within one business day.

If you still see the account in your online banking after a few days, that is normal — closed accounts sometimes stay visible for a short time before disappearing from your dashboard. If it is still there after two weeks, call BMO to confirm the closure went through.

If you have a joint account or a minor's account

If the account is joint — meaning two people own it — both account holders usually need to agree to close it. Call BMO to ask whether both of you need to be on the phone call, or whether one person can close it with the other's written permission. Policies vary by account type.

If the account is for a minor and you are the parent or guardian, you can close it on their behalf. Bring your ID and the child's Social Security number or account information. BMO will ask you to confirm you have authority over the account.

Frequently Asked Questions

Can I reopen the account after I close it?

BMO can reopen a closed account within a short window, usually 30 days, if you change your mind. Call them right away if you need to reopen it. After that window, you will need to open a new account instead. Ask BMO about their specific timeframe when you close.

What if I have a negative balance or owe BMO money?

BMO will not close an account with a negative balance. You will need to deposit money to bring it to zero first. If you owe fees or have an overdraft, pay that before calling to close.

Do I lose my debit card when I close the account?

Yes. Once the account closes, your debit card will stop working. Destroy it or cut it up so it cannot be used. If you have a BMO account you are keeping open, you can use that card instead.

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

The account usually closes within one to three business days after you call. If BMO is mailing a check, add five to ten business days for delivery. You will get a confirmation number on the call that you can use to check the status.

What if I forgot to update my direct deposit before closing?

Contact your employer or the organization sending the deposit right away and give them your new account number. They can usually redirect future payments. Any deposits that hit the closed account will be returned to the sender, and you may need to resubmit them manually.