Understanding BMO Mobile Deposit Funds Availability: A Comprehensive Guide

Are you a customer of the Bank of Montreal (BMO) who uses the mobile deposit feature? If so, you may have some questions about when your funds will be available after making a deposit. This guide will provide you with all the information you need to know about BMO mobile deposit funds availability.

Understanding BMO Mobile Deposit Funds Availability: A Comprehensive Guide

What is BMO Mobile Deposit?

BMO Mobile Deposit is a service offered by the Bank of Montreal that allows customers to deposit cheques using their smartphone or tablet. The process is simple: take a picture of the front and back of the cheque, enter the amount, and submit it through the BMO mobile app. This feature provides convenience to customers who want to avoid going to a branch or ATM.

BMO Mobile Deposit Funds Availability

After depositing a cheque using BMO Mobile Deposit, you may wonder when you will have access to those funds. While it varies depending on several factors, generally speaking, funds deposited via mobile deposit are subject to different hold periods than those deposited in-branch or at an ATM.

The hold period is determined by several factors including but not limited to:

  1. The amount of the cheque
  2. The length and nature of your relationship with BMO
  3. Your credit history and banking habits with other financial institutions

It’s essential that you are aware of these factors as they can affect how quickly your funds become available.

Hold Periods for Cheques Deposited Using BMO Mobile Deposit

While some deposits may be available immediately after being submitted via mobile deposit, most are subject to holds that could last up to 5 business days from the day it was deposited.

Here’s an overview of how long it takes for various types of cheques deposited via BMO Mobile Deposit:

  1. Canadian cheques under $1,500: Generally clear within 4 days.
  2. Canadian cheques over $1,500: May take up to 5 business days to clear.
  3. U.S. cheques under $1,500: Generally cleared within 10 business days.
  4. U.S. cheques over $1,500: May take up to 15 business days to clear.

The hold period for cheques deposited through mobile deposit may vary based on how long you have been a BMO customer and your banking habits.

Factors That Affect BMO Mobile Deposit Funds Availability

As mentioned earlier, several factors can influence when funds become available after making a mobile deposit using BMO Mobile Deposit:

The Amount of the Cheque

One significant factor that determines the availability of funds is the amount of the cheque. As a rule of thumb, larger amounts will require longer holds before they can be accessed.

Your Relationship with BMO

Customers who have a long-standing relationship with BMO may enjoy shorter wait times for their funds to be available because the bank has already established trust.

BMO’s internal team considers:

  • How often you make deposits
  • How much money you typically deposit
  • Whether or not there have been any issues with past deposits.

Credit History and Banking Habits

Part of the hold period calculation includes your credit score and banking history with other financial institutions in Canada.

If you’re new to banking or have poor credit history, there is usually a longer waiting time before funds are available than someone who has been using traditional banking services for many years without issue.

Other Things You Need To Know About BMO Mobile Deposit Funds Availability

  • Although it’s convenient to deposit cheques via mobile phone or tablet, it doesn’t necessarily mean your funds will be readily accessible.
  • It’s essential that you read and understand all the terms and conditions regarding BMO Mobile Deposit Funds availability.
  • If you need access to your deposited funds quickly, inquire about expedited options like next-day availability.
  • Always remember to keep your cheque safely stored until it has cleared.


BMO Mobile Deposit is an incredible convenience for customers who want to deposit cheques without having to visit a traditional branch or ATM. However, customers need to understand that funds deposited via BMO Mobile Deposit are subject to different hold periods than those made in-person.

It’s essential that you familiarize yourself with all the rules and regulations governing BMO Mobile Deposit Funds Availability and prepare adequately before submitting a cheque. This guide should help you make informed decisions on when and how to use BMO Mobile Deposit.


What is BMO Mobile Deposit Funds Availability?

BMO Mobile Deposit Funds Availability refers to the period of time during which deposited funds made through the mobile deposit feature of the Bank of Montreal (BMO) are made available for use.

How long does it take for deposited funds to become available?

Typically, deposited funds will become available on the second business day after the deposit has been made. However, longer holds may be placed on certain types of deposits or in specific situations.

What factors influence how long a hold is placed on a deposit?

The amount and type of the deposit, as well as other factors such as account history and the depositor’s creditworthiness may all impact holds placed on deposited funds.

Are there any exceptions to the two-business-day rule for fund availability?

Yes, some types of deposits, including those involving foreign currency or checks that require additional verification or investigation before they can be cleared may be subject to longer hold periods.

Can holders request an expedited release of held funds?

In some cases, yes. Holders should speak with their BMO representative to determine if such an option is available and what conditions apply.

What if a deposit is rejected after it has been submitted through mobile deposit?

If a deposit made through mobile deposit is rejected, the holder will receive instructions from BMO regarding why it was rejected and what steps can be taken to address any issues.

Is there any way to speed up fund availability after a rejected deposit has been resolved?

Unfortunately, once a hold has been placed on deposited funds, it cannot be lifted until its scheduled release date unless special arrangements have been made with BMO.

How can account holders ensure quick access to their deposited funds?

One way to help ensure quick access to deposited funds is to deposit them during the week, as weekends and holidays are not included in the two-business-day period.

What should holders do if there are discrepancies between their deposit amounts and what shows up in their account?

If there are discrepancies or errors regarding deposit amounts or availability, holders should contact BMO’s customer service team immediately for assistance.

Where can I learn more about BMO’s mobile deposit policies and procedures?

You can find more detailed information about BMO’s mobile deposit policies and procedures on the bank’s website or by speaking with a representative at your local branch.

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