BMO Global Pay
BMO Global Pay lets your business send payments to over 30 countries within 1-2 business days, with some in as little as minutes. footnote 1 Plus, you’ll pay lower fees than alternative international payment types. footnote 2
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Why use BMO Global Pay?
It’s clear
See your final exchange rate before you send your payment, so you always know exactly what you’re paying.
It’s quick
Send up to $100,000 CAD to over 30 countries, some in as little as minutes. footnote 1
It’s simple
Enjoy the same reporting and security processes as wire payments – no additional setup required.
How to use BMO Global Pay
BMO Global Pay is built into the Wire Payment service in Online Banking for Business – so if you can send a wire, you’re all set. Simply:
Create a single wire payment
Enter your transaction details. If your payment qualifies, we’ll suggest you send it with BMO Global Pay.
Say “yes”
Enter a few additional details, then follow your usual wire payment process.
Confirm & complete
Your payment is on its way and has been captured in your existing reports.
What else can you enjoy?
BMO Global pay is a convenient way to send payments under $100,000 CAD. Here’s why:
Access through Online Banking for Business. No extra registration required – we’ll automatically alert you when BMO Global Pay is an option.- Send money to more than 30 countries. India, Germany and the United Kingdom are just a few supported destinations.
- Same reporting process you’re used to. Your transactions are captured in existing reports – you won’t need to change your reporting processes.
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Ready to send a payment?
Global Pay F A Qs
BMO Global Pay is built in to the Wire Payment service in Online Banking for Business. If you have access to the Wire Payment service, you have access to Global Pay. Whenever you create a wire payment that qualifies, we’ll automatically give you the option to send it with Global Pay.
Your payment can qualify for BMO Global Pay if footnote 3
- Your recipient’s bank is in one of the eligible countries
- You’re sending your payment in the destination currency
- Your transaction is no more than the equivalent of $100,000 C A D to most destinations footnote 4
Note: The following countries have different limits:
- Israel, $100,000 U S D limit
- Japan, 1,000,000 J P Y limit
- Thailand, $45,000 U S D limit
With BMO Global Pay, your money travels fast! Your funds will be received within 1-2 business days, with some destinations close to real-time delivery.
You can use BMO Global Pay to send up to $100,000 C A D to most destinations. footnote 4
You can use BMO Global Pay to send payments to businesses in over 30 destination countries.
In many cases, the destination country will need some more information to fulfil the payment. The information needed can differ from country to country due to local regulations.
Ready to get started?
I’m on Online Banking for Business and have the Wire Payment Service
If you’re already using the Wire Payment service for international payments, you’re all set. Simply sign in to Online Banking for Business and start creating a wire payment. If it qualifies, we’ll suggest you send it with BMO Global Pay.
I don’t have the Wire Payment service and/or I’m not on Online Banking for Business
Don’t have the Wire Payment service yet? See how it can help simplify your business payments.
Not an Online Banking for Business customer? Learn how we can help you save time and improve your cash flow.
- Footnote 1 details Payment delivery times will vary and BMO cannot guarantee timing. Most payments are delivered within 2 days, and some are as quick as a few minutes, depending on processing times in the recipient’s country.
- Footnote 2 details BMO Global Pay has its own foreign exchange rate which is different from other foreign exchange wire payment services you may use. BMO makes money on the exchange rate from BMO Global Pay transactions, which is included in the final exchange rate you receive.
- Footnote 3 details Some exclusions and restrictions apply. For example, your business cannot be a Money Service Business. Transaction limit can also be restricted based on your account documentation. For additional restrictions, please see your Wires Service Schedule or contact your BMO sales representative.
- Footnote 4 details Global Pay transactions can’t be higher than the equivalent of $100,000.00 CAD to most destinations, the exception destinations are: Israel, $100,000 USD limit; Japan, 1,000,000 JPY limit; Thailand, $45,000 USD limit