BMO International Money Transfer: Fees, Rates and Transfer Times

You can use your BMO® personal or business account to send money abroad, but you’ll need to consider s exchange rate fees and transfer limits.

Let’s take a closer look at BMO international money transfer, including Global Money Transfer, Global Pay and wire transfers. How can you send money overseas with BMO?

We’ll also compare BMO and Wise. With Wise, you can send and receive low-cost money transfers worldwide from one account.

What options does BMO offer for international transfers?

There are a few ways to send and receive money abroad at BMO. Let’s take a closer look at your BMO international money transfer options.

Global Money Transfer

BMO Global Money Transfer is a common way to send payments to friends and family outside Canada. You can send money to nearly 70 destinations, including the UK, the US and Europe.

Key features of Global Money Transfer:

• Transfer money 24/7 via BMO mobile or online banking
• Send money for free from select BMO account plans
• Follow the status of your transfers online

You’ll need to set up BMO Global Money Transfer by calling the number on your debit card, visiting a branch, or contacting your BMO Relationship Manager.

You may also pay a flat fee of CAD 5 per Global Money Transfer, depending on your account type and destination.¹

Global Pay

BMO business account holders can use Global Pay to send money to over 30 destinations, such as the UK, India and Germany.

Key features of Global Pay:

• Send up to 100,000 CAD overseas
• Get the same security processes as wire payments
• Pay global clients in 1 to 2 business days

You won’t need to complete any additional steps to set up Global Pay transfers via your business account – and you can access easy transaction reporting online.²

International wire transfer

You can also use an international wire transfer to send large money transfers overseas for both yourself and your business.

Business account holders can create templates for recurring wires and send money online in foreign currencies. You can view your wire transfer activity or track your transaction history.³

You can also send and receive wire transfers from your personal BMO account. Unlike business accounts, however, you can’t send a personal wire transfer online.

You’ll need to visit your local branch to complete your payment. This may limit when you can send your transfer, as most branches will close on weekends and holidays.⁴

You’ll also pay fees for outgoing and incoming wire transfers from your business or personal BMO account.

BMO charges up to 40 CAD⁵ per global transfer.⁶

How much do international transfers cost at BMO?

Whether you use BMO for everyday or business banking, there are some key fees to understand before sending your first international money transfer.

Let’s take a closer look at how much it costs to use BMO’s international transfer methods, including wire transfer, Global Money Transfer and Global Pay.

Exchange rate fees

If you send an international transfer in a currency other than that of your account, you’ll also need to consider currency conversion fees.

BMO may add a markup to the exchange rate used for foreign currency transactions. This is how BMO earns money, but it can add significant costs to your global payments.²** **Look for the mid-market exchange rate — the fair rate for currency conversion with no hidden markups.

What are the transfer limits at BMO?

Most banks set transfer limits for international money transfers. Let’s take a look at how much you can send abroad via BMO Global Money Transfer or Global Pay.

Additional fees to watch out for

You’ll need to look out for some additional international transaction fees, including intermediary, correspondent or receiving fees.

If your transfer goes through other banks, they may add a processing fee to your transaction. This is common for global wire transfers.

Some banks may also charge your recipient a fee to receive your payment. At BMO, for example, you’ll pay 16 CAD⁵ per incoming wire transfer.⁶

Meet Wise – your smart international alternative

Wise provides international transfers at mid-market rates and no hidden costs. Wise offers transparency and you can quickly find out how much an international wire transfer will really cost you.

With Wise, your fees are nominally low, with a fixed fee for conversion plus a 0.48% variable fee, depending on the transaction amount. No exchange rate markups involved. Try out our pricing simulator to understand how much an international transfer would cost you:

What's more, businesses and individuals can hold 40+ currencies and receive money in 10+ currencies. They can also send their money to 80+ countries with the multi-currency account.

You can also use the Wise card for all your online as well as in-store transactions, and you can spend like a local wherever you go!

Conclusion

BMO offers a range of international transfer methods, including Global Money Transfer, Global Pay and international wire transfer.

You can send money across the world, but you’ll need to look out for foreign transaction fees and exchange rate charges. You’ll also need to speak to a BMO representative to set up Global Money Transfer for your first payment.

Wise is a flexible, low-cost alternative for international transactions. You can send money to friends or set up a business account to manage your global team.

To explore your international money transfer options, check out Wise.

1. BMO - International money transfer
2. BMO - Global Pay
3. BMO - Wire payments service
4. BMO - FAQs
5. BMO - Agreements, bank plans and fees for everyday banking
6. BMO - Better banking guide for business
   Sources verified on 7 October 2025