What is a SWIFT code?

A SWIFT code is an alphanumeric code to identify specific banks around the world. It is a type of Bank Identification Code (BIC), and the two terms are often used interchangeably. The SWIFT code, or a variation on it, is an important part of international money transfers. SWIFT codes are often used for international wire transfers and currency exchanges. Learn more about SWIFT codes in our glossary .

Where do I find my bank's SWIFT code?

Normally, the fastest and easiest way to find your bank's SWIFT code is to Google it. Banks themselves often don't make this information all too accessible, but the information is almost always readily available through a quick search online.

Do all bank branches have the same SWIFT/BIC code?

Typically, most banks have the same SWIFT/BIC code across all branches. However, this isn't always the case, and some banks have different SWIFT/BIC codes by individual branch. It's for this reason that it's always a good idea to double-check your SWIFT/BIC code in advance of a money transfer.

What does XXX stand for in a SWIFT/BIC code?

The last three digits of a SWIFT/BIC code represent a specific bank branch. However, when these digits are XXX, this represents that the branch in question is the bank's head office. The last three digits are optional. If omitted, it is assumed to refer to the head office of the bank.

Do Bank of Montreal (BMO) SWIFT/BIC codes differ by branch?

Yes, BMO SWIFT/BIC codes differ by branch (and also service type). We therefore recommend double-checking to make sure your transfer is going to the right place.

Bank of Montreal SWIFT/BIC Codes

The SWIFT/BIC code for the Bank of Montreal (BMO) is BOFMCAM2XXX.

If funds are being sent from the US, the sender will need to provide a BMO Routing/ABA number additionally, which is 026005092.

BMO uses different SWIFT codes for different banking services. We recommend double-checking to make sure your transfer is going to the right place.

If you're looking for BMO's SWIFT/BIC code, you probably are either:

sending money to Canada from abroad, or
receiving money to your BMO account from abroad.

If so, then you should beware of hidden bank fees and consider using a digital provider to save money instead. To see why we recommend most people avoid the bank for international money transfers, select the link below that applies to your situation:

Which Applies to You?

01. I'm overseas, sending money to Canada
02. I'm in Canada, receiving money from overseas
03. I'd like more information about BMO SWIFT/BIC codes

Key Takeaways

❌ Don't send money to BMO in Canada with your bank

✅ Compare cheaper, faster, and savvier alternatives instead

Find out why

Sending Money to Canada

If you're sending money internationally to a BMO bank account in Canada through your local bank, the transaction will likely be much pricier than it ought to be. —

This is because fixed international bank transfer fees, bad exchange rates, and correspondent banking fees can stack up very quickly. At Monito, we analyzed the cost of sending money with around 50 major banks in eight countries around the world, and we can confidently say that we don't recommend using your bank to send money to Canada.

Additionally, bank transfers via the SWIFT network tend to take quite long (between one and five business days on average), meaning they're not a good option if you want to make a speedy transfer.

Fortunately for you, much smarter alternatives exist. Using a digital money transfer provider, not only could you up to 95% in fees compared to the bank, but you'll also be able to send money more quickly to your beneficiary's account at Bank of Montreal. Compare now on Monito's real-time comparison engine to find the cheapest way to send to any BMO account in Canada:

Receiving Money From Abroad

Are you expecting a transfer from abroad and is the sender asking you to provide a BMO SWIFT/BIC code? Then you're likely going to receive less than you should because of the high international bank transfer fees and bad exchange rates that are usually applied by the senders' bank.

For example, a typical US Bank will charge between 5% and 10% in total fees for sending $1,000 from the US. With costs like this, instead of receiving C$1,259 at today's* mid-market rate, you'd receive only around C$1,100. That's easily C$100 less than you should've received.

Luckily, a much better alternative exists to save money when receiving money in Canada from abroad. It's called the Wise Account and it's available for both individuals and businesses. Using a Wise Account (available in Canada), you'll get local bank account details for 10 different currencies. What's more, you'll be able to send, hold, spend, and receive Canadian dollars and other foreign currency at the mid-market exchange rate with low, transparent fees. This means you'll be able to use Wise to receive money like a local in Canada (and other currencies), making it an excellent online account for this purpose.

Open your Wise account ❯

or see the full review

* Conversion made: 06/05/2022

BMO SWIFT/BIC Codes

To learn more about Bank of Montreal SWIFT/BIC codes, take a look at the table below, which breaks things down further for your convenience:

Bank Name	The Bank of Montreal (BMO)
SWIFT Code	BOFMCAM2XXX
SWIFT Branch	Head Office
Address	100 King Street West, 28th Floor
City	Toronto
Postal Code	M5X 1A1
Country	Canada
Other Branches	📍 BMO Branch Locator

SWIFT Code	BOFMCAM2XXX
Bank Code (4 characters)	BOFM
Country Code (2 characters)	CA
Location Code (2 characters)	M2
Branch Code (3 characters)	XXX

Frequently Asked Questions about SWIFT / BIC Codes

What is a SWIFT code?

A SWIFT code is an alphanumeric code to identify specific banks around the world. It is a type of Bank Identification Code (BIC), and the two terms are often used interchangeably. The SWIFT code, or a variation on it, is an important part of international money transfers. SWIFT codes are often used for international wire transfers and currency exchanges. Learn more about SWIFT codes in our glossary.
Where do I find my bank's SWIFT code?

Normally, the fastest and easiest way to find your bank's SWIFT code is to Google it. Banks themselves often don't make this information all too accessible, but the information is almost always readily available through a quick search online.
Do all bank branches have the same SWIFT/BIC code?

Typically, most banks have the same SWIFT/BIC code across all branches. However, this isn't always the case, and some banks have different SWIFT/BIC codes by individual branch. It's for this reason that it's always a good idea to double-check your SWIFT/BIC code in advance of a money transfer.
What does XXX stand for in a SWIFT/BIC code?

The last three digits of a SWIFT/BIC code represent a specific bank branch. However, when these digits are XXX, this represents that the branch in question is the bank's head office. The last three digits are optional. If omitted, it is assumed to refer to the head office of the bank.
Do Bank of Montreal (BMO) SWIFT/BIC codes differ by branch?

Yes, BMO SWIFT/BIC codes differ by branch (and also service type). We therefore recommend double-checking to make sure your transfer is going to the right place.

Monito's Guides To Understand SWIFT Codes & Money Transfers

SWIFT Explained

Transfer Specialists vs Banks

November 22, 2022 - by Byron Mühlberg

BMO International Transfers

December 22, 2022 - by Byron Mühlberg

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn More About Monito

Monito is trusted by 15+ million users across the globe.
Monito's experts spend hours researching and testing services so that you don't have to.
Our recommendations are always unbiased and independent.