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BMO (BMO Investorline): Linking accounts
February 3, 2023
11:28 am
Fritz23
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Sorry, using Bill Payment from Tangerine to push money to my BMOIL account. Which account number do I have to put in at Tangerine, the BMOIL margin account number or the BMO AccountLink chequing account number?

February 3, 2023
11:30 am
Fritz23
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Thanks Norman1 and AltaRed, got it for Bill Payment, just made a small test transfer.

March 4, 2023
6:34 pm
GMH
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I recently opened a BMO investorline account and was given an AccountLink number.
I wish to occasionally pull money directly from BMOIL via Hubert and do it in the simplest way possible. I do not want to open an additional BMO bank account. I have received conflicting information from two BMOIL representatives. One says I can pull money directly from AccountLink; another says I have to open a BMO account. I have tried linking from Hubert a few days ago and so far nothing. Anyone have any experience with this issue?

March 4, 2023
6:46 pm
AltaRed
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Your AccountLink is your BMO bank account (it holds the cash from your BMO Invesorline account automatically).

You have to be sure you have the full AccountLink routing information, e.g. 001-xxxxx-acount# in order to link to it. The 5 digit transit number does not show in its entirely unless you actually go to Banking and click on the actual account to get all 5 digits.

March 4, 2023
8:38 pm
Norman1
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By AccountLink number, are we talking about the AccountLink bank card number or the AccountLink chequing account number?

It is better to wait for the first monthly BMO InvestorLine account statement to have most of the chequing account's transit number and the chequing account's full account number.

I wouldn't rely on verbal information from the BMO InvestorLine agents. That verbal AccountLink account info has, unfortunately, been shown to be unreliable.

March 5, 2023
7:38 pm
GMH
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Read one of Norman1's previous posts and realized that transit number is 5 digits and not 4 as shown in BMOIL statement. Don't know why they can't afford the extra ink for one more digit. Will re-try with 36772 instead of 3677.

March 5, 2023
8:27 pm
AltaRed
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Don't guess that 5th digit. It could be a number of them. Go into BMO Online banking and click on the AccountLink bank account (if you have been sent a BMO Bank Card and are registered for online banking) to see the 5 digits.

March 6, 2023
4:35 am
Norman1
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For Bank of Montreal branch 3677_, the transit 36772 is a good guess as the bank only has one branch with 3677 in its transit:

Routing Numbers Postal Address
Electronic Paper (MICR)
000136772 36772-001 Investorline - Toronto, 100 King St. West, 20th Floor F.C.P., Toronto, ON M5X 1A1

I agree. There doesn't seem to be a good reason not to print the full five-digit transit of the AccountLink chequing account on the BMO InvestorLine monthly statements.

March 7, 2023
8:44 am
GMH
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Managed to successfully link AccountLink account directly to Hubert without requiring an intermediary BMO account. Thanks to AltaRed and Norman1 for feedback re: transit numbers.
I don't have a BMO bank card, but don't see having a requirement for it as all fund transfers will be initiated at the Hubert end.

March 7, 2023
9:01 am
AltaRed
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GMH said
Managed to successfully link AccountLink account directly to Hubert without requiring an intermediary BMO account. Thanks to AltaRed and Norman1 for feedback re: transit numbers.
I don't have a BMO bank card, but don't see having a requirement for it as all fund transfers will be initiated at the Hubert end.  

Just to be clear for others. The AccountLink bank account IS the intermediary BMO account. BMO Investorline is, I think, unique in having this option tied at the hip with the brokerage account.

The primary advantage of having a BMO bank card is to access online banking, to also use the AccountLink bank account for Bill Pay, e-transfers, etc. albeit there are only 2 free debit transactions per month from this account. If that is not needed, then I agree BMO Online Banking with a bank card is not required. Some of this might change on March 10th when the new version of BMO Investorline 2.0 goes into full operational mode, i.e. full access to BMO Online Banking (Account Link account) from the BMO Investorline login.

March 10, 2023
7:06 am
Norman1
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Good to hear that the link to the AccountLink chequing account was successfully established at Hubert. sf-smile

I had an easier time because BMO InvestorLine sent me some starter cheques for the AccountLink chequing account way back. The cheques had the full transit number.

Adding the AccountLink chequing account to a BMO bank card or BMO credit card also gives one ATM and teller access to the chequing account. I've used that access to deposit cheques to transfer money from accounts at banks that don't support linking and pushing funds to external accounts. I've also used the ATM access to withdraw funds as cash. Really not worth the effort to pull something like $40 remaining out from Hubert side, wait for the hold to expire, and push to another bank with ATM access.

March 10, 2023
10:41 am
AltaRed
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A little off-topic but the changes being made to BMO platforms, including banking, have broken the link to be able to transfer USD funds (using the Move Money - Account Transfer mechanism) from the AccountLink USD chequing account to BMO Harris US checking account. I used to be able to do that via BMO Online Banking but no longer.

I spent maybe an hour on the phone today with both BMO Investorline and BMO Digital Banking to try and resolve the issue. So far, no resolution.

From the BMO Investorline platform, the Move Money feature won't recognize BMO Harris as a recipient account. From the BMO Online Banking platform, the Move Money feature won't recognize BMO Harris as a recipient account and instead directs the client to use Global Money Transfer. Okay....fair enough but while Global Money Transfer does recognize BMO Harris as a recipient account, it will not recognize the BMO AccountLink account as a BMO bank account! It is basically asking the client to open a 'real' BMO Banking chequing account. Sigh!

Will have to deal with this in April after some vacation. I am not keep to having to go into a branch to do Wire Transfers (if that is the only solution). I pride myself for not having to walk into any brick and mortar building for years on end.

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