BMO World Elite Business Mastercard Terms & Conditions


  1. a) Subject to these Terms and Conditions, each balance transfer amount is eligible for a promotional interest rate of 0.00% provided that each balance transfer is posted to your BMO CashBack Business Mastercard account, BMO World Elite Business Mastercard or BMO Rewards Business Mastercard account (the "Account") in the first 9 (nine) statement periods from the Account open date (“Promotional Period”) , and your Account remains in good standing. Offer is available to new customers only upon Account approval for applications submitted on or after March 14, 2023. Offer is valid until November 30th, 2023. Balances from other BMO credit card accounts are not eligible to be transferred. The promotional rate will no longer apply to your Account if you transfer into a card other than the BMO CashBack Business Mastercard, BMO World Elite Business Mastercard or BMO Rewards Business Mastercard. Balance transfers apply to Canadian dollar amounts only.

    b) Balance transfers do not qualify to earn loyalty rewards such as CashBack Rewards or BMO Rewards Points. Balance transfers are treated as cash advances and the promotional interest rate applies from the date the transactions are posted to your Account until the last day of the Promotional Period. After the Promotional Period expires, any remaining balance transfer amounts will be charged interest at the standard annual interest rate for cash advances. The promotional interest rate of 0.00% does not apply to purchases, fees, cash advances and other charges posted to your Account during the Promotional Period. Standard interest rates will continue to apply to those transactions. Please refer to your monthly statement for the interest rate applicable to your Account.

    c) Each balance transfer is subject to a fee of 3% which will be charged to your account on the date the balance transfer is posted to your Account. For example, if an amount of $1,000 is transferred to your Account, you will be charged a fee of $30. You may request a balance transfer for as low as $100, as long as the transfer amount plus the fee, does not exceed the unused portion of the credit limit on your Account.

    d) If your Account has balances with different interest rates, such as purchases with a standard interest rate and balance transfers with a promotional interest rate, any payment that exceeds the minimum payment will be allocated proportionately to those balances according to the terms set out in section 14 of the BMO Mastercard Cardholder Agreement. For example, if you have an $800 purchases balance at the standard interest rate and a $200 balance transfer balance at a promotional interest rate, 80 per cent of your payment will be allocated to your purchases balance and 20 percent will be allocated to your balance transfer balance. This offer may be withdrawn or changed without notice.

    e) You will pay interest on purchases unless you pay your full Account balance by the payment due date. For example, if you complete a balance transfer for $5,000 and spend $2,000 in purchases during the same statement period, you must pay the entire balance of $7,000 before the payment due date to avoid paying interest on your purchases. You will be charged interest if you only pay the amount owing for your purchases. There is no interest-free grace period for cash advances or balance transfers.

    f) To transfer balances from non-BMO credit card accounts, register for Online Banking or log in at bmo.com and do the following; select your Mastercard account, then select Set up Balance Transfer or Pre-authorized payment, then select Credit Card Balance Transfer and follow the instructions to complete the transfer.
  1. a) BMO World Elite Business Mastercard applications must be received between January 13, 2022 and December 31, 2023 (the “Offer Period”) to be eligible for this offer. 50,000 BMO Rewards points will be applied to your BMO Rewards Collector Account after you spend a minimum of $5,000 (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) within the first three (3) months after the account open date. 50,000 BMO Rewards welcome bonus points will be credited to your Collector Account within sixty (60) business days following the qualifying $5,000 spend. Receive an additional 20,000 BMO Rewards points twelve (12) months after the Credit Card account open date after you spend a minimum of $35,000 (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) within the first twelve (12) months after the account open date, as long your account is in good standing at the time you qualify for the additional points. The primary cardholder’s annual fee of $149 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement. The primary cardholder’s annual card fee applies after the first year and will appear on your account statement twelve (12) months after the account open date. If an additional cardholder is added to the account within the first year, the Additional Card annual fee of $50 per card will be charged at a prorated rate and will not be waived or rebated. This offer is not available to current or former BMO World Elite Business Mastercard cardholders who reinstate a closed account or open a new account during the “Offer Period”. Existing BMO credit card cardholders who transfer into this product during the Offer Period are not eligible for this offer. If you cancel your card within ninety (90) days of account opening, the welcome bonus will be cancelled. This offer may be withdrawn or changed without notice.

    b) You can redeem for travel rewards at bmorewards.com or by calling the BMO Rewards Centre. Points can be used to cover any applicable taxes and fees. If you don’t have enough points to redeem a particular travel reward, you can top up the number of points you need by purchasing those points on your card. There is no maximum top up amount for travel rewards. There is no online booking fee. We charge fees plus applicable taxes for each phone reservation, modification or cancellation of a travel reservation. For fees, please see the Important Information enclosure that is provided with your BMO credit card and any notice that we may provide you. Supplier fees for each change or cancellation to your travel arrangements may also apply and will be disclosed at the time of booking based on your specific travel reservation. Booking fees, change fees and cancellation fees are non-refundable. All travel rewards are subject to availability. Additional points or cash can be used to pay for all or a portion of the flight taxes and fees or a higher value flight.
  2. Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. Cash advances include balance transfers, cash-like transactions and Mastercard cheques. Visit bmo.com/yourbiz for current rates and fees; call the Customer Contact Centre at 1-844-385-5055 or visit your branch.
  3. BMO Rewards points will not expire as long as the BMO World Elite Business Mastercard card account (referred to in this paragraph as the “Account”) remains open and in good standing, except as described in the section of the BMO Rewards for Business Terms & Conditions, which deals with the program termination. On cancellation of the Account, a cardholder will have 90 days in which to do either of the following: (i) redeem the points earned for one or more rewards; or (ii) reinstate the points by either reinstating the Account or opening a new Account and linking the points account that was attached to the cancelled Account to the new Account. After the ninety day period, unless the points are reinstated, any points that remain in the points account will expire. For details, please refer to the BMO Rewards Terms and Conditions for Business for further details.
  4. You will earn 4 BMO Rewards points for each dollar you spend (up to an annual limit of $50,000) at gas stations, office supply stores, and on your cell phone/internet (phone) bill payments. The 4 BMO Rewards points includes the base earn rate of 1.5 BMO Rewards points for each dollar you spend and the bonus of 2.5 BMO Rewards points for each dollar you spend in qualifying gas, office or cell phone/internet purchases. To qualify for the bonus reward points, your purchases must be made at merchants classified in the Mastercard network as Service Stations (gas stations with or without ancillary services) and Automated Fuel Dispensers (Merchant Codes: 5541 & 5542), Stationery and Office Supply Stores (Merchant Codes: 5111 & 5943) and Cellphone/Internet billings (Merchant Codes: 4812, 4814 & 4816). Some merchants may sell similar products/services or are separate merchants who are located on the premises of these merchants but are classified in another manner, in which case this bonus earn would not apply. After you reach yearly cap of $50,000 in qualifying gas, office or cell phone/internet purchases, you will earn 1.5 BMO Rewards points for each dollar you spend on these purchases and on all other eligible purchases made with the card.
  5. Subject to the BMO Rewards Terms and Conditions for Business, BMO Rewards points are calculated based on purchases of goods or services charged to the BMO World Elite Business Mastercard account, less any refunds or adjustments, rounded down to the nearest whole point. Cash advances (including purchases of foreign currency or travellers cheques), interest charges, fees, credit or debit adjustments and any amount other than purchases that may be charged to the account with the card, do not qualify for points. Bank of Montreal may establish other qualifying and nonqualifying transactions from time to time.
  6. A maximum of 22 additional employee cards can be added to a primary cardholder’s account. Employee cards have an annual fee of $50 for every additional cardholder added to the account. Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. Cash advances include balance transfers, cash-like transactions and Mastercard cheques. Visit bmo.com/yourbiz for current rates and fees; call the Customer Contact Centre at 1-844-385-5055, or visit your branch.
  7. Subject to terms and conditions, including limitations, exclusions and other important information contained in the BMO Mastercard Liability Waiver Program description, which is sent to new cardholders. Program benefits provided by Royal & Sun Alliance Insurance Company of Canada.
  8. BMO Rewards redemptions are subject to fees and charges. For details, please see the fees, charges, and pricing policy in the BMO Rewards Terms and Conditions as well as the Important Information about BMO Mastercard cards enclosure.
  9. Pay with Points is available for eligible purchases only. Cardholders can visit bmorewards.com to redeem their points to cover eligible transactions. The cardholder is required to have enough points for $1 minimum redemption.

    To redeem your BMO Rewards points for travel, you can book through any travel provider of your choice using your BMO credit card and then use Pay with Points for your eligible travel purchases. To be eligible for Pay with Points travel redemption, your travel purchases must be made at merchants that are classified as: airlines, car rental agencies, hotels/resorts, cruise lines, vacation packages, eligible vacation rentals, passenger railways, timeshares, travel agencies and tour operators.

    Please refer to the Pay with Points section of bmorewards.com for extended Terms and Conditions.
  10. Mastercard Travel Pass provided by DragonPass is a worldwide program run by DragonPass International Ltd. This benefit will be available to all cardholders of a BMO World Elite Business Mastercard (“eligible cardholders”). Eligible cardholders are required to comply with the Conditions of Use available online at mastercardtravelpass.dragonpass.com or on the Mastercard Travel Pass mobile application, as well as any additional terms and conditions applicable to the lounge or offer being used by the eligible cardholder. The Conditions of Use are subject to change from time to time without notice to Issuer or the eligible cardholders. Eligible cardholders wishing to access a participating lounge must present their Mastercard Travel Pass mobile app or membership document showing the QR code and DragonPass membership number (this may be obtained by the eligible cardholder by registering an account at mastercardtravelpass.dragonpass.com or downloading the Mastercard Travel pass application from the app store) to the lounge receptionist and reference “Mastercard Travel Pass provided by DragonPass.” Value and benefits of the Mastercard Travel Pass complimentary membership are subject to change without notice. Use the two complimentary passes for yourself as the primary cardholder or to cover the cost of the lounge visit of your travelling companion. To identify the primary cardholder on your account, please check the name on your monthly statement. After using two passes, you and your travelling companion can continue to enjoy lounge access for a fee of just US$32 per person, per visit. For a complete list of open and eligible lounges, please visit mastercardtravelpass.dragonpass.com.
  11. Visit mastercard.ca/easysavings for a full list of Terms and Conditions.
  12. Insurance benefits are subject to specific terms and conditions, including limitations, exclusions and other important information contained in the BMO World Elite Business Mastercard Certificate of Insurance that is sent to new cardholders. Insurance coverages are provided by CUMIS General Insurance Company, a member of The Co-operators group of companies and administered by Allianz Global Assistance. Allianz Global Assistance is a registered business name of AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd. For questions contact Allianz Global Assistance Canada at 1-877-704-0341 or visit www.allianz-assistance.ca.

    CUMIS General Insurance Company

    P.O. Box 5065,

    151 North Service Road

    Burlington, Ontario L7R 4C2

    Canada

    1-800-263-9120

    www.cumis.com

  13. Insurance benefits are subject to specific terms and conditions, including limitations, exclusions and other important information contained in the Certificate of Insurance that is sent to new cardholders. Insurance coverages are provided by CUMIS General Insurance Company, a member of The Co-operators group of companies and administered by Allianz Global Assistance. Allianz Global Assistance is a registered business name of AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd. For questions contact Allianz Global Assistance Canada at 1-877-704-0341 or visit www.allianz-assistance.ca.

    CUMIS General Insurance Company

    P.O. Box 5065,

    151 North Service Road

    Burlington, Ontario L7R 4C2

    Canada

    1-800-263-9120

    www.cumis.com

  14. Maple’s physicians, nurse practitioners, and allied healthcare professionals are Canadian licensed and practice in their respective fields right here in Canada. If a cardholder is outside of their province of residence or abroad, they can still access their visits on Maple and connect with these professionals. For an additional fee, Maple also offers access to a wide variety of specialists such as dermatologists, and endocrinologists. For additional information about the terms and conditions, visit https://www.getmaple.ca/terms/.

    The primary cardholder and a co-owner (if applicable) on the BMO World Elite Business Mastercard credit card account, will each receive an onboarding email from Maple within the first 14 days the BMO World Elite Business Mastercard credit card account is opened. The primary cardholder and co-owner must register through this email invite in order to access their covered visits and are subject to the terms provided by Maple for use of its services. So long as BMO offers eligible cardholders access to this benefit, the 5 covered visits will renew every calendar year (January to December). If the BMO World Elite Business Mastercard credit card account is closed, the primary cardholder and co-owner forfeit any covered visits that have not been used.
  15. For BMO World Elite Business Mastercard and BMO World Elite AIR MILES Business Mastercard credit card products: The name, language preference, and email address of the owner (and co-owner, as applicable) will be shared with Maple, so that Maple can send the owner(s) an email invitation to create their Maple account for access to 5 free virtual care visits (you can choose to connect with a doctor in minutes or access mental health counselling). Registration is optional. Maple is a Canadian virtual care provider offering access to online doctors, virtual healthcare & prescriptions in Canada. You are providing consent to share this information with Maple if your application is approved. For more information about Maple, visit: getmaple.ca/bmo-cards
  16. Certain terms, conditions and exclusions apply. Contact your issuing financial institution for complete coverage terms and conditions.