How to Get Warned That your BMO Bank Account Balance Is Getting Low

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I recently signed up for online banking at BMO after spending years using the ABM and meeting with the tellers. In part, I signed up so I could watch the balance more easily since I doubt they would waive the fee for dropping below the minimum balance a second time. It’s been convenient to sign in and check the balance at odd hours. I noticed, though, that I can actually have BMO send me a warning that the account balance is getting low and we might need to put in more cash quickly to avoid fees.

Setting a Low Balance Alert for a BMO Online Bank Account

  1. Sign in to your BMO online bank account/s.
  2. From the My Shortcuts section of links on the left side of the screen, click on My Alerts.
  3. Read the information. Note you can send Alerts to your
    * Email
    * Smartphone
    * Phone with text messaging
  4. If you want to proceed, under the My Alerts heading at the left click on the link: Add a Delivery Method.

The Add a Delivery Method page
If, like me, you’re not keen on giving out your phone info or you don’t have a cell phone except for emergency calls, you may prefer to enter your Email Address.

  1. If so, from the Select delivery method drop-down list, choose Email Address
  2. In the Email Address field, type your email id.
  3. Click on the Verify button.

The Verify email address page

Check your email address has been typed in correctly. If so, click on the Submit Request button.

The Your email address has been registered to receive alerts page

To identify what kind of alert you want to receive, click on the Set up Alerts button.

The My Alerts page

The General Alerts section

If desired, click to check the box beside Alert me if there is a security concern with my BMO Debit Card.

The Account and eStatement Alerts section

  1. You can click to select the following options:
    * Alert me when a withdrawal of more than $_____ is made
    * Alert me when a deposit of more than $ _________ is made
    * Alert me when my account balance drops below $ __________
    * Alert me when my eStatement is available to be viewed in Online Banking
    They caution you that you could receive a deposit alert before the money is actually in your account if the money will be deposited after midnight.
  2. To meet my need, I clicked to select the box beside Alert me when my account balance drops below $ ______ and I typed in the dollar amount I wanted to receive the warning at.
  3. The system prompted me with a list of places it could send the alert.
    I clicked to select the box beside my email address.
  4. If applicable, there may be sections to set alerts for your credit card/s and investment products.
  5. When you’ve set all your desired alerts, click on the Save Alerts button.

When you have finished banking

  1. Click on the Sign Out link.
  2. Clear your cache and close your browser session.

Now I’ll just have to see if it works. I’m aware, though, that if my tax bill comes out of my chequing account, the balance will drop significantly and quickly in one step. It’s important to set the Alert at a high enough level that there will be time to move more money into the account before the next bill needs to get paid.

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Do you have an Alert set to warn you when your bank balance drops to some dangerously low level? Do you find it a convenience or do you refuse to rely on an automated system that could fail when you need it most? Please share your approach with a comment.