BMO Alerts Frequently Asked Questions

The over limit fee is charged on the day your account balance exceeds your credit limit. It will also be charged at the beginning of each subsequent billing period if your account remains over limit.

The fee isn't applicable for residents of Quebec.

There are several reasons an account can go over its credit limit. For example: Even though your account has a defined limit, some merchants can “force” transactions through, putting your account over its credit limit.

This isn’t a general practice, and depends on the type of merchant (for example, this can happen with car rental companies).

Another possibility is that certain merchants (including airlines) may authorize a payment ahead of time, but post the transaction at a later date, which can put you over your limit. We can’t prevent merchants from forcing the transaction to your account once you’ve provided authorization for the transaction(s).

Your payments are processed the day we receive them. If you pay your balance at a branch or through online or mobile banking, that payment will be reflected immediately.

However, it can take 2 – 3 business days for your balance to be updated. Over limit fees are assessed on the posted date of the transaction that puts the account over the limit. To avoid this fee, it’s a good idea to monitor your account regularly through online or mobile banking and allow 2-3 business days for your payment to be posted to your account.

Tip: If you’re using BMO Online Banking, process your payment as a transfer from your bank account to your credit card. If you’re paying through BMO Mobile Banking, select Pay Credit Card from your Account Summary to avoid any payment processing delays.

If you make a payment to your BMO credit card from a bank account you hold with another financial institution, it may take several days for us to receive the payment and apply it to your account.

If you’d like to request a higher credit limit, you can do so through online banking. We’ll typically process your request within three business days, and you can find our response to your request in the Message Centre.

If your credit limit request is urgent, it’s best to give us a call at 1-800-263-2263

If you’ve received a credit limit alert, it’s because you’re either close to reaching your credit limit or have already gone over your limit. You may have been enrolled in credit limit alerts automatically to help you stay on top of your banking.

You’ll get an alert when a transaction puts you close to your credit limit based on a warning level that was set within your alert preferences.

For example: If the warning level is set at $100, you’ll get the alert when you’re within $100 or less of reaching your credit limit.

You can change this amount by signing into BMO Online Banking or BMO Mobile Banking.

To change your alert subscription, sign in to BMO Online Banking and go to Profile & settings and select Alerts preferences, or sign in to BMO Mobile Banking and select Alerts from the More menu.

Learn more about alerts and how to change your subscription.

You may have been enrolled in credit limit alerts automatically to help you stay on top of your banking. If you’ve received a credit limit alert, it’s because you’re either close to reaching your credit limit or have already gone over your limit.

You’ll get an alert when a transaction puts you close to your credit limit based on a warning level that was set within your alert preferences.

For example: If the warning level is set at $100, you’ll get the alert when you’re within $100 or less of reaching your credit limit.

You can change this amount by signing into BMO Online Banking or BMO Mobile Banking.

Here’s how to change your alert subscription using BMO Online Banking:

1. Sign into your account through BMO Online Banking.
2. Click the Profile & Settings on the top right, then under Settings, select Alert preferences.
3. Update your alert subscription preferences, and you’re all set.

Here’s how to change your alert subscription using BMO Mobile Banking:

1. Sign into your account using the BMO Mobile App.
2. Select the More menu, then select Alerts.
3. Update your alert subscription preferences, and you’re all set.

Learn more about BMO alerts and how to change your subscription.

If you’d like to request a higher credit limit, book an appointment at your nearest branch or contact us at 1-877-225-5266 to speak with one of our lending specialists.