Looking for somebody who has withdrawn to a Canadian bank before successfully specifically the bank of Montreal.
The website is asking for an IBAN number which we do not have here so if somebody could potentially reply or PM me and let me know what they did to make it successful?
Do I enter my full five digit transit number plus my account number since the swift code is for the bank itself? Or the first four digits of the transit number like my bank suggests?
Thanks in advance.
the fees for swift call for some alternative yo
I’ve done it with Desjardins and it works, just takes 50 days
I’ve done withrawals to a Canadian bank before. CIBC in my case but the principle is the same for BMO. This is essentially what I’ve got setup for mine an have pulled money out just fine. I’ve revised things for BMO from the data I found which should work.
Name Of Bank:
Bank Of Montreal
Country Of Bank:
Canada
IBAN / Account Number:
CC0001TTTTTAAAAAAAAAA
CC = a static placeholder needed to create an IBAN even though Canada doesn’t support them.
0001 = institution code with leading extra 0. 001 = BMO, 010 = CIBC…etc. 0001 here is what it should be for BMO.
TTTTT = 5 Digit Transit Number for your account
AAAAAAAAAA = Your full bank account number (ensure your transit # isn’t being included as part of your account number too)
You’re basically mashing all these together into a single number/code
BIC / Swift:
BOFMCAM2
All these fields are needed. Also, this not financial advice, yada yada. Again, I’ve done this with a CIBC subsidiary bank without problem. This is my best figuring for your case based on my own settings that work. But I can’t guarantee shit lol. [B]This page[/B] on BMO has some additional info to validate this.
Best advice if you’re not in a panic rush is to do the minimum withdrawal first to ensure it goes though in 50 business days then do a large one. Of course this means taking a lot longer to get the bulk of your money, but if it’s a lot and you’re cool with it taking like 5 months total to be safe that’s the way to do it and exactly how I handled my first withdrawal.
Best of luck!
Ok, thanks! I do have a CIBC account too so if I used that, I would enter 0010TTTTTAAAAAAAAAA and the CIBC Swift Code? Or do I start with the “CC”?
The sheet BMO gave me said to only use the first 4 digits of the 5 digit transit number which didnt make sense to me… I just dont want to loose any peds to fees if the withdrawal isnt successful…
You need the CC at the start. So for cibc it’s CC0010TTTTTAAAAAAAAAA
Swift code
CIBCCATT
For bank name I use the formal name: Canadian Imperial Bank of Commerce
Awesome! Thank you for the info! Have a Happy New Year!