Tag Archives: banks

How to Download Your Transaction History from a BMO Online Bank Account

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If you like to keep an eye on your budget or if you just want a simple electronic record of your banking transactions for future reference, you may want to download your information and save it on a disk or stick. You’ll notice I don’t recommend you keep the data on your hard drive or handheld and I’ll mention why in this article. Here’s how you can download what’s been going in and out of your BMO online bank account.

Downloading Your BMO Bank Account Data to Use in a Spreadsheet or Financial Program

You can download your data directly in the format needed for

  • Quickbooks
  • Quicken, or
  • Simply Accounting

You can also download it in comma separated values format to use in most spreadsheets including Excel.

  1. Sign in to your BMO online banking account.
  2. Under the My Accounts section on the list of links on the left side of the screen, click on the bank account for which you wish to download the transactions.
  3. Under the name of the account, click on the link: Download Account Details

The Download Your Bank Account Details Page

  1. Confirm that the box is checked beside the account for which you wish to download the transactions. If not, click to select the box.
  2. In the Download: section, click to select the radio button beside
    * Activity since last download
    * Transactions in the following date range
  3. If you select the date range option, you must also enter the From: and To: dates.
    You can click on the Calendar icon to select the From: and To: dates, or you can type them in MM/DD/YYYY format.
  4. In the Format: section from the drop-down select the software in which you intend to use the information. Choices include:
    * Quickbooks
    * Quicken
    * Simply Accounting
    * Spreadsheet (CSV format)
  5. NOTE CSV format means “comma separated values.” Each column of information will be separated from the next by a comma. This is the format that can be opened by Microsoft Office Excel and many other spreadsheet programs.
  6. Click on the Continue button.
  7. If you chose to download for a spreadsheet, the Opening statement.csv popup window will open.

The Opening Statment.CSV Page

  1. Click to select the radio button beside
    • Open with Microsoft Office Excel
      (or choose another program from the drop-down list); or
    • Save File

    then click on the OK button.

  2. If selected, a spreadsheet will open with your transaction history. You may need to widen some columns to see the values properly formatted.
  3. The data reported includes:
    • Your debit card number
    • The Transaction type;For example: Credit or Debit
    • the date posted
    • the transaction amount
    • a description
  4. So for example, it will show that you used your debit card on a certain date to make a purchase at Victoria’s Secret.
  5. If you are finished with online banking, sign out of your account.
  6. For increased security, clear your browser cache and close your browser session.

You can sort your spending by description which may be useful if you use Debit to pay for certain purchases regularly such as groceries

Drawbacks of the Transaction History for a BMO Bank Account

Unfortunately, the history does not differentiate between various types of transactions. For example, a pre-authorized bill payment is reported as a DEBIT just like an in-store purchase.

Keep Your Financial Information Safe and Secure

You may want to keep your downloaded banking transaction history on a separate device rather than on the hard drive of your computer, laptop or handheld.

For sure, I would recommend deleting your bank card number from the file. Why make it easier for someone to know how to sign in to your account?

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Have you found any quirks when downloading your BMO bank account history? Do you download it regularly or only when you’re hunting for some anomaly? Please share your views with a comment.

How to Enroll a BMO Bank Account for Online Banking

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I only started to use online banking when I signed up for a Tangerine (formerly ING Direct) savings account a few years ago. Call me a “late adopter.” Then, last year, we opened a PC Financial account so that we could have unlimited free paper cheques to pay the constant stream of costs coming home from our children’s schools. We have “regular” bank accounts dating back to our first working days at a few of the Big Canadian Banks. Recently, I decided to opt to sign up our BMO joint chequing account for online banking; here’s how to do it.

How to Limit Your Risk of Bank Account Fraud from Debit Card Abuse, ABM Phishing and Other Shenanigans

We’ve had our BMO joint chequing account since the days when you were (and we still are!) paid interest on your Big Bank chequing account balance. Yes, there were still a few Stegosaurs in the swamps back then. We created the account solely to pay bills because –get this—we were worried about the risk of exposing the bulk of our money to cheque, pre-authorized withdrawal and ABM frauds.

Yes, that’s right: we were worried about losing our money even before there were such things as debit cards, online banking, tap-and-pay, e-transfers and all the things that now seem so routine.

The account was set up as a standalone. To put money in the account, we wrote a cheque from one of our other banks and deposited it at the teller. So our total exposure to loss was limited to what was in the account at any given time, which was usually significantly under $5000.

I didn’t opt for online banking for this account before now because I didn’t see any need. I can easily walk to our branch. BMO doesn’t have photo cheque deposits, yet, so there was little incentive to change.

Recently, however, I decided I would like to be able to check the balance and the transactions more easily. While it exposes the account to another type of fraud, the risks are not really that great. So it’s time to go online.

What Do You Need Handy to Sign Up for BMO Online Banking?

You’ll need

  • your debit card
  • your bank account number
  • another new password, this one 6 characters in length

How to Enroll a BMO Chequing Account for Online Banking

  1. Go to the BMO website and find the online banking Sign In link. Click on it.
  2. If desired, click on the link to view and listen to a video about Personal Account online banking.
  3. Click on the link: Register now
  4. Under the heading For BMO Debit Card Holders, click on the Register Online button.

The Online Banking Registration Step 1 of 4 Page

  1. In the Bank Card field, type the rest of your Debit Card number.
  2. In the Account Number field, type the last four digits of your Savings or Chequing Account Number.
  3. Click on the Continue button.

The Online Banking Registration Step 2 of 4 Page

  1. In the appropriate box, type the number of bank accounts linked to your debit card.
  2. Answer the personalized question appropriately.
  3. Click on the Continue button.

The Online Banking Registration Step 3 of 4 Page

  1. Click on the link and read the Electronic Banking Services Agreement.
  2. If you still want to proceed click on the I Agree button.
    (If not, click the Exit button.)

The Online Banking Registration Step 4 of 4 Page
You now need to create a password for online and telephone banking for use with your debit card. It’s a 6-character password.

Note that if you use letters, when you telephone bank you will have to use the corresponding number.
2 = ABC
3 = DEF
4 = GHI
5 = JKL
6 = MNO
7 = PQRS
8 = TUV
9 = WXYZ

  1. In the Enter your New Password field, type your password.
  2. In the Re-enter your New Password field, type the password again.
  3. In the Email Address field, type an email address to reach you to re-enable access in the event of difficulties.
  4. Click on the Continue button.

The Confirmation Page

You will be thanked for enrolling. (They’re welcome.)

To understand how to sign in to online banking in the future, click on the Click Here link.

Signing In to Your Bank Account Online for the First Time

  1. To start online banking immediately, click on the Login button.
  2. In the Debit Card field, type the remainder of your debit card number.
  3. In the Password field, type your new password.

The Set Up Enhanced Sign In Security Page

You will now be prompted to set up additional security controls.

Specifically, you will choose an image and a personal phrase. Those will be displayed each time you sign in before you enter your password. If you don’t see them, don’t enter your password! You’re not on the BMO site!

You will also select and answer three questions that can be used by BMO to authenticate who you are. Be sure to select information that no one else will easily know.

Optionally, you can select whether or not to recognize your computer.

Click on the Set Up Now button.

The Set Up Your Personal Phrase and Image Page

  1. In the Enter Your Personal Phrase field, type a phrase that you will remember and that is something you will not detest reading every single time you sign in.
    It should be 10-50 characters long.
  2. If you dislike the pre-selected image, like I did, you can choose another one by clicking on the Change Image link.
    Be forewarned, they have a LOT of banal images. You may have to click See More Images quite a few times to find one you can put up with.
  3. Click on the image you want to select. (after you give up and randomly choose one, if you’re like me)
  4. Click on the Continue Button.

The Set Up Your Enhanced Sign In Security Questions Page

  1. Read the information on the page about when you will be asked these questions and whether you can modify them in the future.
  2. From the drop-down list, select your first challenge question.
  3. In the Answer 1 field, type your answer to the question.
  4. From the drop-down list, select your second challenge question.
  5. In the Answer 2 field, type your answer to the question.
  6. From the drop-down list, select your third challenge question.
  7. In the Answer 3 field, type your answer to the question.
  8. If you are not security conscious and frankly should not be allowed to online bank, you may check the box beside Yes, recognize this computer, it is a computer I trust and use often.
    Transparent 5 pixel space to help format the page
    When checked, when you use this same computer to sign in, you will NOT be asked a challenge question.
    Image of 5 blank pixels to help space out text properly
    Why do you want to REDUCE the security for your money!?! Leave the box unchecked. Answer the question each time. For one thing, it’ll make it easier to remember the correct answers when you’re trying to sign in from another computer during an emergency, perhaps even in another country.
    Image of 5 blank pixels to help space out text properly
  9. Click on the Continue button.

The Review Page

Review the information you entered and make sure it makes sense.

If it does, click on the Complete Security Set Up button.

The Confirmation Page

Read the information.

Click on the Continue to Online Banking button.

If you get the annoying Welcome! Popup window, click on the Continue to Online Banking button on it.

You’re in! (finally)

Hopefully your bank account will show up with the proper balance. Mine did.

What Did I Find When I Logged In to my BMO Account Online?

Well, to my dismay I found they have linked my BMO credit card to my debit card! I had no idea that they had done that. So I will be getting that removed immediately.

[Or maybe not. Apparently, what I am seeing is what the Teller sees when they swipe my Debit card at the bank. So unless I go into the branch and object, I cannot easily remove my credit card number from the display for my online banking. The telephone support reps cannot change it. I’ll brood about this some more before I decide what to do.]

I also saw that even though we have no money in it, they report our RESP account. We transferred all the money to InvestorLine years ago but I guess they don’t close the account when you do that. I think I’d better close it before they start charging me some inactivity fee or whatever.

When I checked My Contact Information, I discovered they have an outdated business telephone number for me. So I fixed that online immediately.

Oh cool! When I clicked on my bank account I discovered I received a dividend payment today. Nothing like finding unexpected money!

When You Are Finished Online Banking at BMO

Click on the Sign Out link.

Clear your cache and close your browser session.

Why Don’t I Just Close the BMO Account and Do All my Debit and Banking through PC Financial or Tangerine?

I probably should. But I have a sentimental streak about a metre wide.

I also like our BMO account and our branch. I like the tellers, who will easily clear a $10 000 cheque for me without a hold. I like that I can walk to the ABM if I want to get cash.

I like earning interest on a chequing account at a major Canadian bank if only for the bragging value.

And I still like to reduce the amount of money exposed to potential fraud. I only use debit from my BMO account. If some nefarious evil-doer gets my debit card info, and if BMO refuses to protect me from my losses, the most I will be out is the balance of this standalone BMO account. And I use debit a lot. I just counted, and I made 12 purchases on debit last week.

So while Spock would say it’s illogical, I’m going to keep our BMO account a while longer. I just think I’ll risk exposing it to online banking so that I can keep a closer eye on the transactions flowing through it.

It still is a standalone account. I won’t be linking it electronically to our other banks. It’s just too easy to drop a cheque in whenever I want.

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Do you still have any bank accounts with no online access? Do you think you’ll just leave them that way? Please share your views on online banking with a comment.