Automatic Bill Payment is an arrangement where you can pre-authorize a merchant/service provider (for example, your insurance company, utilities, cell phone provider and newspaper subscriptions) to automatically charge your BMO MasterCard® account on a regular basis. Payments may be made monthly, quarterly, annually, etc. Depending on what you and the merchant/service provider agree upon, the pre-authorized payment can be a fixed dollar amount, or it can fluctuate.
Yes. Simply use the Biller Directory tool, which includes many companies that BMO MasterCard cardholders pay regularly. If your merchant/service provider is not listed, visit their website directly. Or, look for their customer service number on your bill and request BMO MasterCard as your automatic payment method.
There are several benefits:
Generally, the merchant/service provider will need your BMO MasterCard account number and expiry date. Some merchants/service providers may request the Card Validation Number, which is the last three digits found on the back of your card. They will also need the specific date you wish to be charged each month.
Note: Not every merchant will allow you to choose this date, but many will.
Every merchant/service provider will have individual time requirements to update your automatic billing information. To avoid late fees and penalties, ensure that automatic bill payments to your BMO MasterCard have begun before you stop paying your bills in your usual manner.
As long as your account is open (i.e. no blocks that prevent purchasing, and you have the required credit available to accommodate the purchase) your automatic payment to your biller will still be made, even if you pay your BMO MasterCard bill late.
Simply contact the merchant/service provider with whom you’ve set up the Automatic Bill Payment, and follow their procedures to cancel or change the method of payment.
Yes, most companies continue to send a statement indicating the total amount they will charge to your BMO MasterCard. However, some merchants/service providers may allow you to choose to receive an online statement — via the Internet — or no statement at all. Please check the individual merchant’s website or call their customer service number for more details.You are also able to view all transactions on your monthly BMO MasterCard statement – an easy way to track your expenses. Your statement also includes information on rewards earned on every dollar charged to your BMO MasterCard account.
MasterCard is accepted at 30 million locations worldwide. Even so, not every merchant/service provider offers their customers Automatic Bill Payments using MasterCard. Because each company makes its own payment option decisions, we encourage you to request that your merchant/service provider consider offering this convenience to you.
If there is an error in billing, simply contact the merchant/service provider. They should help you to resolve the issue of an incorrect charge. If you require additional assistance, call BMO MasterCard at 1 800 263-2263.
If your BMO MasterCard number changes, you must contact each merchant/service provider with whom you have an automatic bill payment relationship to update your information. This includes card expiry dates. You can easily locate the contact information of many merchants via the Biller Directory at any time. Timely updating of your new information will avoid any interruption in your payments.