Yes, you can deposit a US dollar check into your BMO checking account, but the bank will convert it to Canadian dollars and the process takes longer than a domestic check

BMO accepts US dollar checks for deposit into Canadian checking accounts. The bank will credit your account in Canadian dollars, using the exchange rate on the day the check clears—not the day you deposit it. This means the amount you receive depends on currency movement between deposit and clearing, which typically takes 5 to 10 business days for a US check.

You can deposit a US check at any BMO branch, through mobile deposit (if your account supports it), or by mail. The bank charges a fee for processing foreign checks, usually between $15 and $25 CAD, though this varies by account type and branch. Some premium accounts waive the fee.

Key Takeaways

  • BMO converts US dollar checks to Canadian dollars at the exchange rate on the clearing date, not the deposit date, so the final amount in your account depends on currency timing.
  • Foreign check deposits take 5 to 10 business days to clear, compared to 1 to 2 days for domestic Canadian checks.
  • BMO charges a foreign check processing fee of roughly $15 to $25 CAD per check, though some account tiers may waive this cost.
  • You can deposit in person at a branch, by mobile app (if enabled on your account), or by mail, but in-person deposit gives you when ready confirmation of receipt.

How the exchange rate and timing work

The exchange rate applied to your US check is set on the day BMO's clearing house processes the check, not when you hand it to the teller or upload it through the app. If you deposit a $500 USD check on a Monday, but the check doesn't clear until Thursday, you receive the Canadian dollar equivalent of $500 USD at Thursday's rate. If the US dollar strengthens between Monday and Thursday, you get more Canadian dollars. If it weakens, you get fewer.

This timing matters because US checks move through the US banking system first before crossing the border. A check drawn on a US bank account must clear through the Federal Reserve or the US check clearing network before BMO receives confirmation of funds. That process alone takes 3 to 5 business days. Only after that confirmation does BMO credit your account.

Deposit methods and what each requires

In-person deposit at a BMO branch is the most straightforward route. Bring the check and your debit card or account number. The teller will verify the check details, confirm the foreign check fee applies to your account, and give you a receipt showing the deposit date. You will not see the Canadian dollar amount until the check clears and the exchange rate is applied.

Mobile deposit through the BMO app works for US checks on most checking accounts. Open the app, select "Deposit a Check," photograph the front and back of the check, and submit. The app will show a hold period—typically 5 to 10 business days—before the funds appear. Mobile deposit is convenient but offers no chance to ask questions about the fee or exchange timing before the deposit is locked in.

Mail deposit is an option if you include a deposit slip with your account number and the check. Send it to the BMO address provided in your account materials or on the website. Mail adds 2 to 3 days to the overall timeline because of postal transit, so total clearing time can stretch to 12 business days.

The foreign check fee and how it affects the amount you receive

BMO's foreign check fee is deducted from the deposit amount after the exchange rate is applied. If you deposit a $500 USD check and the exchange rate is 1.35 CAD per USD, the bank credits $675 CAD to your account. Then it deducts the foreign check fee—say $20—leaving you with $655 CAD. The fee comes out of your deposit, not from your account balance.

Some BMO account types, such as certain premium or business accounts, may waive the foreign check fee. Contact your branch or check your account agreement to confirm whether your account qualifies. If you deposit foreign checks regularly, the fee difference between account types can add up quickly.

What information the check must have

The check must be drawn on a US bank and made payable to you or to you and another person whose name also appears on your BMO account. The check must include the routing number (the nine-digit code at the bottom left), the account number, and the check number. The amount must be written in both numbers and words, and the check must be signed by the account holder.

Post-dated checks—checks dated in the future—may not be accepted. Checks older than six months are typically rejected by the clearing system. If the check is damaged, illegible, or missing any of these elements, the bank will return it unpaid and you will not receive the funds.

Alternatives if you need the money faster

If the 5 to 10 day clearing period is too long, ask the person who wrote the check whether they can send a wire transfer instead. A wire transfer from a US bank to your BMO account takes 1 to 3 business days and avoids the check clearing delays. The sender pays a wire fee (typically $15 to $50 USD), but you receive the funds faster and the exchange rate is locked in at the time of transfer.

Another option is to ask whether the check can be reissued as a Canadian dollar check drawn on a Canadian bank. If the payer has a Canadian account or access to one, a Canadian check clears in 1 to 2 business days and incurs no foreign check fee.

What happens if the check bounces

If the check is returned unpaid—because the account it was drawn on has insufficient funds or the account is closed—BMO will reverse the deposit from your account. This can happen days or even weeks after you see the funds appear, because the US clearing system takes time to confirm payment. If you have already spent the money, your account will go negative and you may face overdraft fees.

BMO will notify you by mail or through your online account that the check was returned. The foreign check fee is usually not refunded. If this happens, contact the person who wrote the check to ask for a replacement or alternative payment method.

Frequently Asked Questions

Can I deposit a US check written to someone else if they sign it over to me?

BMO generally does not accept third-party checks—checks signed over by someone other than the original payee. The safest approach is to ask the check writer to issue a new check in your name or to deposit it into their own account and send you the funds by wire transfer or another method.

What exchange rate does BMO use for foreign checks?

BMO uses its internal exchange rate on the day the check clears through the US banking system, not the mid-market rate you see online. The bank's rate typically includes a margin, so you receive slightly less Canadian dollars than you would at the published mid-market rate. You can ask your branch for the specific rate after the check clears, but you cannot lock in a rate in advance.

Will the bank tell me the Canadian dollar amount before the check clears?

No. The teller or app will show you the US dollar amount and the estimated clearing timeline, but the Canadian dollar amount is calculated only after the check clears and the exchange rate is applied. You can estimate it using the current exchange rate, but the actual amount will differ.

Can I deposit a US check into a US dollar account at BMO instead?

If you hold a US dollar account at BMO, you can deposit a US check directly into that account without currency conversion. The check clears in the same 5 to 10 business days, but you receive US dollars, not Canadian dollars. The foreign check fee still applies. This option is useful if you plan to spend the money in US dollars or want to avoid exchange rate risk.

What if my check is damaged or partially illegible?

Contact your branch before attempting to deposit. A damaged check may be rejected by the clearing system, and you will not know for several days. The branch can advise whether the damage is severe enough to warrant asking the check writer for a replacement.