You can close most BMO accounts online through their website or mobile app, but some account types require a phone call or branch visit

BMO lets you close checking and savings accounts through their online banking portal or mobile app without visiting a branch. The process takes a few minutes: log in, navigate to account settings, and request closure. However, if you have a mortgage, investment account, or credit card with BMO, you'll need to call their customer service line or visit a branch in person—those products don't close through self-service channels.

Before you close, make sure your account balance is zero. If you have money left, BMO will mail you a check after closure, which can take one to two weeks. If your account is overdrawn, you must pay the negative balance first. Also check that no automatic payments or direct deposits are still linked to the account, because transactions will be rejected once it closes.

Key Takeaways

  • Checking and savings accounts close through BMO's online banking or mobile app in minutes, but mortgages, investments, and credit cards require a phone call or branch visit.
  • Your account balance must be zero before closure; BMO mails any remaining funds by check within one to two weeks.
  • Cancel all automatic payments and direct deposits tied to the account before you close it, or those transactions will fail.
  • If your account is overdrawn, you must pay the negative balance before BMO will process the closure request.

Steps to close your account online

Log into BMO's online banking at bmo.com or open the BMO mobile app. Navigate to the account you want to close and look for "Account Settings" or "Manage Account." Some accounts show a "Close Account" option directly; others require you to select "More Options" or a menu icon first. Click the closure option and follow the prompts—BMO will ask you to confirm the account balance is zero and may ask why you're closing.

After you submit the request, you'll see a confirmation message with a reference number. Save this number in case you need to follow up. BMO typically processes online closures within one to three business days. You can check the status by logging back into your account; once closed, the account will no longer appear in your account list.

If the "Close Account" option doesn't appear in your online banking, the account type may not support online closure. This is common for accounts with outstanding fees, active disputes, or linked credit products. In that case, you'll need to call BMO at 1-800-363-9992 (in the US) or visit a local branch.

What to do before you close

Review your account for any pending transactions. Check your recent statement and look for automatic bill payments, subscription charges, or recurring transfers that are still active. Cancel these through the original service provider or through BMO's bill pay system before you close the account. If a payment processes after closure, the transaction will fail and may trigger a late fee from the company you owe.

Update your direct deposit with your employer or benefits provider. If you receive paychecks or government payments into this account, contact your employer's payroll department or the relevant agency (Social Security, unemployment, tax refunds) and provide your new account number. This usually takes one to two pay periods to take effect, so plan ahead if you're closing soon.

Pay off any negative balance. If your account is overdrawn, BMO won't close it until you deposit enough to bring it to zero. You can transfer money from another account, deposit a check, or visit a branch to pay in cash. Once the balance is zero, the closure request will process.

Accounts that require a phone call or branch visit

BMO mortgages, home equity lines of credit (HELOCs), investment accounts, and credit cards cannot close online. If you have a mortgage or HELOC, you'll need to contact BMO's mortgage department directly to discuss payoff options and closure. For investment accounts, call the BMO Investor Line. For credit cards, call the number on the back of your card or BMO's general customer service line.

If you have a linked checking account that's connected to any of these products, you may not be able to close the checking account online either. BMO's system sometimes prevents closure of accounts that are tied to active loans or credit products. In this case, call customer service to discuss your options—they can often close the accounts together or explain what needs to happen first.

What happens after your account closes

Once closed, you can no longer use your debit card, checkbook, or online access for that account. If you have a remaining balance, BMO will mail a check to the address on file within one to two weeks. If you've moved, update your address in BMO's system before you close the account, or contact customer service after closure to provide a new mailing address.

Your closed account will remain on your credit report for seven years (for checking and savings accounts, this doesn't affect your credit score, but it shows in your account history). If you ever need proof that the account is closed, you can request a closure letter from BMO by calling customer service or visiting a branch.

If you closed the account but still see charges or activity, contact BMO immediately. Fraudulent activity on a closed account is rare but possible if someone has your account number. Report it within 60 days to protect yourself from liability.

If your online closure request is denied

BMO may deny an online closure request if your account has an outstanding balance, active disputes, pending transactions, or linked credit products. The system usually explains why in the error message. Address the specific issue—pay off the balance, resolve the dispute, or cancel automatic payments—then try again.

If you've resolved the issue and the online option still doesn't work, call BMO customer service at 1-800-363-9992. A representative can close the account over the phone or schedule a branch appointment. Have your account number and ID ready. If you're closing because of a problem with the account or service, mention that to the representative—they may be able to address the issue or offer alternatives.

Frequently Asked Questions

Can I close my BMO account if I have a negative balance?

No. You must deposit money to bring the account to zero before BMO will process the closure. You can transfer funds from another account online, deposit a check at an ATM or branch, or pay in cash at a branch. Once the balance is zero, you can close the account immediately.

Will closing my BMO account hurt my credit score?

Closing a checking or savings account does not affect your credit score. These accounts don't appear on your credit report. However, if you close a credit card or line of credit with BMO, it may have a small impact on your credit utilization ratio, depending on how much you were using the account.

How long does it take for my check to arrive after I close my account?

BMO typically mails any remaining balance within one to two weeks of closure. Delivery time depends on your location and the postal service. If you haven't received it after three weeks, contact BMO with your closure reference number and they can investigate or reissue the check.

What if I change my mind after closing my account?

Once an account is closed, you cannot reopen it. However, you can open a new BMO account at any time. If you closed it very recently (within a day or two), call customer service immediately—they may be able to cancel the closure request before it's finalized.

Do I need to close my account in person if I have a BMO branch nearby?

No. You can close checking and savings accounts online even if you have a branch nearby. In-person closure is only necessary if your account type doesn't support online closure (mortgages, investments, credit cards) or if the online option isn't working for your specific account.