How to Pay BMO Credit Card from Another Bank

Owning more than one bank account can be useful for several different reasons. For instance, many consumers find they can track their finances better by using separate credit cards and chequing accounts for specific bills and annual payments. 

Further, those who own small businesses find that having a bank account for their business and one for their personal expenses helps keep their work life separate from their personal life.

Having another bank account can also be useful for having backup funds for unexpected payments and bills. So, if you have a BMO bank account and another account from another banking institution, you may wonder: how do I pay my BMO credit card from another bank account?

To find out, and to view some other related FAQs, keep reading below! 

Why use another bank account to pay a credit card bill on BMO?

As mentioned above, having more than one bank account can make managing finances easier for those with multiple bills and annual payments. 

However, many individuals have separate bank accounts for savings and emergencies. If an unexpected payment or bill shows up, they have funds available in the other bank account that they can use to make their payment.

Therefore, if they don’t have funds in their BMO account, having money available in another bank account can prevent them from missing their bill payments and experiencing a spike in interest on late payments.  

How to pay BMO credit card from another bank: 2 Methods

If you want you pay your BMO credit card bill from another Canadian bank account, you can do so by adding your BMO card as a payee, as outlined below:

1. From your computer or device, log in to your alternative bank account’s online banking portal
2. Next, set up your BMO credit card as a bill payee. Select the right institution from the drop-down menu and enter the accurate account number.
3. Follow the on-screen prompts (these will vary slightly for each bank) and verify the details before confirming the payee.
4. After setting your BMO credit card as a payee, go to the Bill Payments section of your account and choose which payee you’d like to send money to.
5. Select your BMO credit card from the drop-down menu and enter the money you’d like to add to your card.
6. Review the information to ensure it’s all accurate, and click Confirm.

An alternative way to pay your BMO credit card bill from another bank account is by sending the necessary funds to pay your BMO account via e-transfer. You can utilize this method by following the steps below:

1. From your computer or device, open the online banking portal or mobile app of your alternative bank account and login 
2. Once logged into your account, select the Interac e-Transfer option, usually located under the Accounts page
3. On the e-transfer page, select your BMO account as a recipient (or add your account as a recipient beforehand) and enter the amount of money you wish to send to your account. 
4. Enter the email or phone number attached to your BMO account and then create a security question and answer to deposit the money (you can skip this step if your BMO account is set up with auto-deposit.)
5. Review all the information entered to ensure it’s correct, and hit Send.
6. Once the money is in your BMO account, you can use it to pay off your credit card by selecting the Bill Payments option and moving the money from your chequing account to your credit card’s outstanding balance.

Other related FAQs

Now that you know how to pay a BMO credit card from another bank, you likely have a few other questions regarding credit card bills at BMO. 

Here are a few commonly asked questions below:

Can I pay my BMO credit card bill from PayPal?

You can easily put these funds toward your BMO credit card bill if you have money in your personal PayPal account.

To do so, open your PayPal account, and select the Move Money option. Type in the amount you want to transfer and assign your BMO bank account as the recipient. 

Once you confirm the transfer, the money will arrive in your bank account within 1-3 days. After the money comes, you can add the funds to your credit card from the Pay a Bill section of your BMO account. 

How can I set up automatic credit card bill payments on my BMO account?

If you’d like to set up automatic credit card bill payments on BMO, you can do so by following the steps below:

1. From your computer or device, log in to the BMO Online Banking portal and select the Accounts tab.
2. Under this section, select the Accounts Options button and then choose Automatically Pay Your Credit Card Bill.
3. Next, choose which bank account you’d like to charge your bill payments to. This can be from your BMO account or another Canadian banking institution. 
4. Next, select the Choose a Payment option and add how much money you’d like to withdraw when your scheduled bill payment arrives automatically. You can either pay the minimum balance owed or the outstanding balance.
5. Review the information to confirm it’s accurate, and hit Confirm. Note that it will take up to 24 hours for your request to be completed and for the necessary funds to be withdrawn from your account and added to your bill. 

How far in advance do automatic bill payments have to be scheduled on BMO?

If you’d like to set up automatic bill payments on your BMO account before your next bill payment, you’ll have to set up the schedule at least one day before your pending due date. 

You’ll also want to ensure all the funds required for your payment are available in your account at least one business day before the bill’s due date. 

How can I add a biller/payee to my BMO account?

If you’d like to add a payee to your BMO account, follow the steps below:

1. After signing in to your BMO account, select the Move Money option from the navigation menu.
2. Next, like Add a Payee and choose the Payee Province.
3. Enter the name of your payee and determine the accurate company name from the drop-down menu.
4. Next, enter your account number into the indicated field. 
5. Add a nickname for the payee and then click Add a Payee. Confirm all the details are accurate and complete the form.

Conclusion – How to pay BMO credit card from another bank

To pay your BMO credit card from another bank, you can follow two methods: adding your BMO credit card as a payee on your alternative bank account or transferring the available funds from your other bank account to BMO via e-transfer.

To prevent missing a bill payment or securing the necessary funds in the future, BMO customers can set up automatic payments on their accounts to have their bills paid before each due date.

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