How to Stop Pre-Authorized Payments with BMO
Pre-authorized payments can be a convenient way to manage your bills and expenses, but sometimes, you might find yourself in a situation where you need to stop these payments. Whether it’s due to a change in your financial situation or simply wanting to take back control of your spending, BMO (Bank of Montreal) offers a straightforward process to stop pre-authorized payments. In this article, we will guide you through the steps to stop pre-authorized payments with BMO.
Step 1: Identify the Pre-Authorized Payment
The first step in stopping a pre-authorized payment is to identify the specific payment you want to cancel. You can do this by reviewing your bank statement or online banking portal. Make a note of the merchant’s name, the amount, and the payment date.
Step 2: Contact the Merchant
Before reaching out to BMO, it’s a good idea to contact the merchant directly and inform them of your intention to cancel the pre-authorized payment. This can help avoid any potential misunderstandings and ensure a smooth process. You can either call the merchant’s customer service or send an email to cancel the payment.
Step 3: Contact BMO
Once you have informed the merchant, it’s time to contact BMO. You can do this by calling their customer service at 1-800-769-2511 or visiting your nearest branch. Be prepared to provide the following information:
– Your account number
– The merchant’s name and account number
– The payment amount and date
A BMO representative will guide you through the process of stopping the pre-authorized payment.
Step 4: Provide Consent to Cancel
In some cases, BMO may require your written consent to cancel the pre-authorized payment. You can obtain a consent form from your local branch or download it from BMO’s website. Fill out the form with the necessary information and sign it. Return the completed form to BMO via mail, email, or in person.
Step 5: Follow Up
After submitting your request to stop the pre-authorized payment, it’s essential to follow up with BMO to ensure the process is completed. You can do this by calling customer service or checking your bank statement to confirm that the payment has been canceled.
By following these steps, you can successfully stop pre-authorized payments with BMO. Remember, it’s always a good idea to review your bank statements regularly to monitor your transactions and prevent any unauthorized payments.
