BMO Alto Review

Banking becomes refreshingly straightforward with an account that eliminates common fees entirely. You'll pay no monthly maintenance fees regardless of your balance, and there's no minimum balance threshold to maintain. The freedom extends to your travels with zero foreign transaction fees and no charges for using ATMs outside the network.

Overdraft protection comes standard, preventing unexpected charges and declined payments by safeguarding your transactions. While most fee categories are covered, wire transfers aren't available through this service. This absence aside, the fee-free structure removes typical banking barriers and keeps more money where it belongs—in your account.

Robust security begins with two-factor authentication, requiring a second verification step beyond passwords to protect your accounts from unauthorized access. Real-time fraud alerts notify you instantly when suspicious activities occur, giving you immediate opportunity to respond to potential threats.

Identity theft protection continuously monitors your personal information across various channels, alerting you to possible compromises and providing recovery assistance when needed. The instant card lock feature enables immediate freezing of your cards through the mobile app if they're lost or stolen, preventing unauthorized transactions.

Travel notifications eliminate unnecessary hassles by informing the system of your travel plans. This simple step prevents legitimate transactions from triggering security flags when you use your cards in new locations, ensuring smooth access to your funds wherever you go.

The mobile banking platform has well-crafted apps for both major operating systems. The iOS app (rated 4.8/5) and Android app (rated 4.6/5) deliver full account management capabilities, including transfers and other essential banking functions tailored to each platform.

Users can receive instant push notifications about account activity and set up customizable alerts for balances, transactions, and other important events. The built-in ATM locator uses your device's location to guide you to the nearest fee-free ATMs and branches—particularly helpful when traveling.

Notably absent is mobile check deposit functionality, which means customers cannot use their phone cameras to deposit checks remotely. This missing feature stands out as a limitation in an otherwise robust mobile banking experience.

BMO Alto provides direct deposit functionality, allowing automatic electronic transfers of paychecks and government benefits without paper checks. Their early direct deposit feature gives you access to funds up to two days before the scheduled payment date, helping you manage expenses and avoid late fees more effectively.

The bank supports external account linking, enabling you to connect and manage accounts from different institutions in one interface. BMO Alto also offers free ACH transfers for moving money between banks within 1-3 business days. However, both domestic and international wire transfers are currently unavailable through BMO Alto's platform.

BMO Alto currently lacks most standard money management features. The account doesn't support budgeting tools, spending analytics, round-up savings, automated savings rules, or sub accounts—tools that would otherwise help track expenses, identify spending patterns, and automate saving habits.

The one money management feature BMO Alto does provide is Bill Pay functionality. This service lets customers schedule and manage bill payments directly from their account, helping prevent missed payments and late fees while centralizing monthly obligation tracking. For customers seeking robust money management capabilities, BMO Alto's limited toolkit may be insufficient.

BMO Alto provides full support for both Apple Pay and Google Pay digital wallets. These integrations enable secure, contactless payments for in-store purchases and streamline online transactions from your connected devices. Both services add an extra layer of security to your payment experience.

The bank also integrates with QuickBooks, automatically syncing your transactions with the accounting software. This connection eliminates manual data entry for small business owners and self-employed customers, making bookkeeping more efficient and accurate.

Notably, BMO Alto lacks support for Zelle and Wise integrations. Without Zelle, customers miss the ability to instantly transfer money between U.S. bank accounts. The absence of Wise integration means international transfers may come with higher fees compared to what this specialized service typically provides.

BMO Alto delivers essential customer support through 24/7 phone assistance at 1.855.266.8100. Banking issues never wait for business hours—whether you're reporting a stolen card, questioning a transaction, or needing account guidance, representatives remain available around the clock.

Notably, BMO Alto currently lacks several support channels offered by competitors. Live chat, email support, bill negotiation services, and financial advisor access are unavailable. Customers seeking written communication records or immediate digital assistance will need to rely exclusively on phone support for all inquiries and concerns.

BMO Alto operates as a fully digital banking solution without physical branch access. The account doesn't support traditional in-person services such as cash deposits, large cash withdrawals, cashier's checks, or notary services. This digital-first approach means customers won't have access to safe deposit boxes or currency exchange services at physical locations.

BMO Alto also lacks ATM network support, both domestically and internationally. This absence of ATM functionality means customers cannot use physical machines for cash withdrawals or deposits. Banking transactions must be conducted entirely through digital channels rather than through physical infrastructure.

While investment accounts, cryptocurrency services, cashback rewards, and foreign currency accounts aren't currently supported, the platform doesn't leave you entirely without additional services.

Credit monitoring comes as a fully supported feature, giving you continuous visibility into your credit health. This service tracks your credit score and flags changes that might impact your creditworthiness. By keeping tabs on your credit profile, you can spot potential fraud early and make smarter decisions about when and how to apply for credit.