Does BMO work with Lodavo? How to connect Bank of Montreal

If you bank with BMO, the short answer is yes: BMO works with Lodavo. Bank of Montreal has about 13 million customers and its own page on Plaid’s Canadian network, which is the connection Lodavo uses to link a bank. A BMO chequing, savings, or TFSA balance takes a couple of minutes to link, and from there, every week you save earns you free tickets in a draw for up to $10,000.

How to connect your BMO account to Lodavo

Two minutes in the Lodavo app, start to finish:

1. Download Lodavo. It’s free.
2. Tap to connect a bank and pick BMO (Bank of Montreal).
3. Sign in on the secure Plaid screen. Your details go there, not to Lodavo.
4. Choose the BMO account you want to track, and that’s it.

After that, your balance updates each week, and your tickets follow what you save.

Is it safe? What Lodavo can and can’t see

Yes, and the access is deliberately narrow. BMO is a named institution on Plaid’s network with its own connection page, so linking it uses the same bank-grade Plaid (opens in a new tab) flow that thousands of Canadian apps rely on. Two things are worth knowing:

• Your sign-in stays between you and BMO. You type it on Plaid’s secure screen. Lodavo never sees or stores your card number or password.
• All that comes back is a number. The access is read-only and limited to the balance of the account you picked, so you can track your savings each week and earn free tickets. Your transaction history, your other BMO products, and your statements are out of reach.

You can disconnect BMO from inside Lodavo whenever you want. For the full picture, here’s how Lodavo keeps your money safe and the draw provably fair.

Which BMO account should you track?

Connect the BMO account where your savings actually sit. Most users link one of these:

You can link more than one, and the balances add up. What Lodavo can’t track yet is an investment or brokerage account, like BMO InvestorLine or a self-directed TFSA, so stick to an account where your money sits as a cash balance. Your tickets follow that balance, so the more you keep saved, the more chances you get. There’s no minimum, and if you bank somewhere else too, you can link accounts at other Canadian banks.

Troubleshooting a BMO connection

If a connection doesn’t go through on the first try:

• Enter your current BMO Online Banking sign-in (your card number or username and password) on the secure screen, exactly as you would on BMO’s own site.
• Complete BMO’s 2-step verification if it prompts you for a one-time code.
• If a previously linked account stops updating, reconnect it from inside Lodavo to refresh the link.

BMO is well supported on Plaid’s network, so a reconnect usually sorts it out.

Why prize-linked savings fits BMO customers

Canadians aren’t saving much right now. The household saving rate slipped to 3.5% in the first quarter of 2026, the lowest since early 2024, according to Statistics Canada (opens in a new tab). Most people already know they should put more aside. The hard part is wanting to.

That’s what prize-linked savings is for. The balance you already keep at BMO starts earning free draw tickets, and every week one of them could be worth up to $10,000. It makes saving something to look forward to. New to the idea? Start with how prize-linked savings works in Canada.

Terms and conditions apply. No purchase necessary (alternate method of entry available). Skill-testing question required. Open to legal residents of Canada who are the age of majority. Odds depend on the number of eligible entries received. Full rules and odds at our contest rules.