BMO Debit Card Review

The BMO Debit Card is an everyday debit card that comes with a handful of credit card features from Mastercard. It lets you access your funds quickly and easily when you shop in-store or online wherever Debit Mastercard is accepted. You can also link it to your mobile wallet so that you can pay your bill at the till by swiping your phone. It is not a credit card.

The BMO Debit Card comes automatically with most BMO chequing or savings accounts that you open, and you won’t need to pay additional fees to use it unless you exceed the monthly transaction limits allowed under your BMO bank plan.

30-second take

• Think about this card if you’re looking for a hybrid debit/credit card with multiple payment options and top security features.

• Choose something else if you want access to direct credit or you’d prefer to collect points or cashback rewards.

The Basics

If you’re looking for a multi-purpose debit card, you can get a BMO Debit Mastercard automatically included with almost every chequing or savings account you sign up for with BMO.

• Tap and go payments. Pay for purchases quickly and easily when you tap your card at Interac Flash-enabled terminals.
• Shop online or overseas. Use your BMO Debit Card to pay for purchases online or abroad wherever Debit Mastercard is accepted.
• Pay for recurring bills. Sign up for recurring bill payments with participating merchants using your BMO Debit Mastercard.
• Link to your mobile wallet. Link your BMO Debit Card to your mobile wallet to pay with in-store merchants by tapping your mobile phone at the till.
• Free BMO ATM withdrawals. Use your BMO Debit Card to withdraw cash at BMO ATMs or pay a fee to take money out at non-BMO ATMs across Canada and overseas.
• No additional fees or interest. Avoid paying extra BMO Debit Card fees or interest unless you exceed the monthly limit for your BMO bank plan.

The perks

• Easy mobile banking. Manage your money on the go with BMO’s simple online and mobile banking platform.
• Overdraft protection. Pay a small monthly fee to protect yourself from charges for non-sufficient funds (NSF) if your bank balance dips into the red.
• Security features. Protect the items you buy on your BMO Debit Card with security features such as encrypted chip technology and Mastercard identity check.
• Zero liability coverage. Rest easy knowing you’re protected against fraudulent charges on your BMO Debit Card with BMO’s 100% electronic banking guarantee.
• BMO alerts. Sign up for BMO alerts and get notified when any transactions are carried out using your BMO Debit Mastercard.
• Good for pre-authorizations. Use your BMO Debit Card to pre-authorize travel bookings as long as you have an available balance to secure your reservation.

What to watch out for

• Few online vendors. The BMO Debit Mastercard is only accepted by a handful of merchants, so you may not be able to use it to make online purchases in some cases.
• No rewards. You won’t earn cashback or points whenever you spend money on your BMO Debit Card.
• Transaction limits. You may be required to adhere to BMO Debit Card daily spending limits for online, mail order, telephone order and recurring payment transactions.
• Foreign transaction fees. You’ll pay an additional fee of 2.5% when you make purchases overseas, in addition to a mark-up on the currency exchange rate.
• No access to credit. You can only spend money that’s already in your account, which means that the BMO Debit Card isn’t suitable if you’re looking for access to credit.

What should I know before I apply?

Eligibility requirements

You won’t need to apply for a BMO Debit Card because you’ll get one automatically if you meet the following criteria:

• You are a Canadian citizen, permanent resident or temporary resident of Canada.
• You are applying for a BMO chequing or savings account that qualifies for this card.

Required documents and information

To sign up for an eligible BMO bank account, you’ll need to provide the following:

• Your name, residential status and contact information
• Your Social Insurance Number and date of birth
• Your email address and phone number

How to apply

1. Visit BMO’s main page to apply for the chequing or savings account of your choice.
2. Complete the application, which includes providing your name, email address, Social Insurance Number and birth date.
3. Review and submit your application.
4. Your BMO Debit Mastercard should come automatically included with your account once you sign up (so you won’t need a separate application).

Compare other accounts with debit cards

Sort by:

Name	Product	Interest Rate	Account Fee	Debit Transactions	Interac e-Transfer Transactions
Scotiabank Ultimate Package		0%	$30.95 per month ($0 if requirements met)	unlimited	unlimited	Get up to $650 worth of benefits and savings through annual fee waivers, unlimited debit and Interac e-Transfer transactions, a number of free equity trades and more.	Go to site More Info	Compare	loading Fetching your data...
Scotiabank Preferred Package		0%	$16.95 per month ($0 if requirements met)	unlimited	unlimited	Get unlimited debit and Interac e-Transfer transactions, a first year annual fee waiver (up to $139) on select credit cards and more perks to take care of your everyday banking needs.	Go to site More Info	Compare	loading Fetching your data...
Scotiabank Basic Plus Bank Account		0%	$11.95 per month ($0 if requirements met)	25 free per month	10 free per month	Pay no monthly account fee by maintaining a minimum daily closing balance of $3,000 for the entire month.	Go to site More Info	Compare	loading Fetching your data...
Scotiabank Student Banking Advantage Plan		0%	$0	unlimited	unlimited	Sign up today and get up to 5,000 SCENE or Scotia Rewards Points. Terms apply. Apply by April 30, 2021.	Go to site More Info	Compare	loading Fetching your data...
Scotiabank Basic Bank Account		0%	$3.95 per month	12 free per month	2 free per month	With a low monthly account fee, you can choose between earning points toward the SCENE or Scotia Rewards reward programs.	Go to site More Info	Compare	loading Fetching your data...

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Bottom line

The BMO Debit Mastercard is an everyday debit card that comes with a handful of credit card features. These include various payment options such as tap and go, online payments and mobile wallet payments. This card comes automatically included with almost every BMO chequing or savings account you sign up for and can be easily linked to your BMO online and mobile banking.

Comprehensive guide to debit cards

Frequently asked questions about the BMO Debit Card

• Is the BMO Debit Mastercard a credit card?

  No. It’s a debit card with certain features that are similar to a credit card. For example, it allows you to input your BMO Debit Card details to make recurring bill payments or online payments. The main difference is that any money you pay from this card will come directly from your bank balance (not from a pool of credit that you’ll have to pay off at a later date).

• What are the BMO Debit Card daily spending limits?

  That depends on what type of BMO banking plan you have. To find the daily spending limit of your BMO Debit Card, sign in to your account and click “View your daily debit card limits” under “Bank Accounts” in “My Account Summary.” You should also be able to figure out your BMO Debit Card withdrawal limits using the same function.

• Can I use my BMO Debit Card online?

  You can indeed. You can use your BMO Debit Card to make purchases at any online retailers that accept BMO Debit Mastercard as payment. Find out how to use your BMO Debit Card online and check out the full list of available vendors in Canada.

• Can I use my BMO Debit Card in the USA?

  You definitely can, though it will cost you more to make purchases. This is because you’ll have to pay for currency conversion, and you’ll also have to pay an additional 2.5% in foreign exchange fees to use your BMO Debit Card to make purchases in the USA.

• Will my BMO Debit Card work in Europe?

  That depends on where you try to use it. You should be able to use your BMO Debit Card to pay for purchases wherever Mastercard is accepted in Europe. You should also be able to use it to withdraw money at Cirrus or Maestro ATMs.

• Can I use my BMO Debit Card for PayPal?

  You definitely can. All you need to do is link your BMO Debit Mastercard to your PayPal account in the same way that you would a credit card. From there, any PayPal purchases you make will be withdrawn directly from your bank account.

• Can I apply online?

  There’s no need to apply for a BMO Debit Card as this card will be automatically included when you sign up for most BMO chequing and savings accounts. To sign up for a BMO account, you can visit the main BMO website.