Summary: The Bank of Montreal does not directly support purchasing or selling cryptocurrencies, such as Bitcoin or Ethereum, via its online banking platform or physical bank branches. However, Bank of Montreal customers can deposit Canadian Dollars (CAD) into FINTRAC-regulated cryptocurrency exchanges within Canada.

Our top recommendation for Canadian investors is Bitbuy, widely recognized as the nation's most reliable crypto trading platform. Bitbuy holds a FINTRAC license and has received approval from the Ontario Securities Commission. The platform enables Bank of Montreal customers to make quick and free CAD deposits to trade and stake over 100 cryptocurrencies.

Best Crypto Exchange for Bank of Montreal (BMO)

  • Fast and cheap Canadian Dollar (CAD) deposits via Interac e-Transfer from Bank of Montreal (BMO).
  • Secure FINTRAC regulated platform and is approved by the Ontario Securities Commission.
  • Trade 100+ crypto assets with low fees starting at 0.1% per trade.
In this guide we break down the best ways to buy cryptocurrencies with the Bank of Montreal in Canada. Get started with low fees and fast CAD deposits
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Can I Buy Bitcoin with Bank of Montreal?

While the Bank of Montreal does not enable customers to purchase digital currencies through its platform directly, it does allow them to acquire crypto via regulated digital asset exchanges. To trade cryptocurrencies such as Bitcoin, Canadian investors can deposit CAD from their Bank of Montreal accounts or cards into reputable, licensed cryptocurrency trading platforms within Canada.

How to Buy Bitcoin and Crypto with Bank of Montreal

As a Bank of Montreal account holder, the most reliable method for purchasing cryptocurrency is by using a crypto exchange regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This approach allows customers to securely deposit Canadian Dollars using Interac e-Transfer, credit card, or bank wire, facilitating a safe investment in digital assets.

Here's a simple guide for Bank of Montreal account holders to get started on Bitbuy:

  1. Register for a Bitbuy account and verify your personal or business information.
  2. Transfer Canadian Dollars (CAD) to Bitbuy using e-Transfer from BMO.
  3. Browse and select the desired cryptocurrency from over 100 available options.
  4. Enter the CAD amount you wish to invest and complete your trade.
How to buy Crypto with Bank of Montreal

Is Bank of Montreal Crypto-Friendly?

In 2018, the Bank of Montreal banned debit or credit card cryptocurrency purchases. However, they have since reversed this ban and currently do not enforce any policies that would prevent customers from trading cryptocurrencies using a Bank of Montreal account. Investors should ensure they deposit CAD into FINTRAC-regulated exchanges to avoid the possibility of bank freezes.

What is Bank of Montreal

The Bank of Montreal (BMO) is a leading Canadian bank founded in 1817. As the country's first bank, BMO provides various financial services such as personal and commercial banking, wealth management, and investment services. The bank has a strong presence across North America, with numerous branches and ATMs in Canada and the United States.

BMO is committed to delivering excellent customer service and innovative financial solutions. The bank offers a diverse range of products and services to cater to the needs of its customers. Its extensive network ensures easy access to accounts and banking services for regional clients.

Final Thoughts

In conclusion, the Bank of Montreal does not provide cryptocurrency investment services directly to its customers; however, it allows them to invest in crypto through regulated digital asset exchanges. After thoroughly evaluating the top options, we determined Bitbuy to be the best choice. It is the most secure and trusted cryptocurrency trading platform in Canada.

Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.