Yes, please take me to the U.S. site
No, I would like to stay on the Canadian site
Business Current Account
Manage Everyday Business Banking with Ease
This practical operating account allows you to manage all your day-to-day business banking needs from one account. This account is appropriate for customers who prefer to pay only the services they use or whose banking needs exceed the scope of an Everyday Banking for Business Plan.
Accessible, cost-effective account features
- Your deposits can be made in branch, by Around-the-Clock Depository, by using a BMO® Debit Card for Business at any BMO ATM, or by mail
- Unlimited transfers – made by you in-branch, by telephone or online
- Monthly statement with cheque image return
- Value-priced Davis + Henderson®† cheques
- Available in Canadian or U.S. dollars1
Save on account fees with an Everyday Banking for Business Plan
| Small Business Banking Plan |
Value Plan | Value Assist Plan | |
|---|---|---|---|
| Monthly Plan fee | $9.50 | From $15 | From $22 |
| Monthly transactions included | 15 | From 20 | From 20 |
| Minimum monthly balance required to waive Plan fee | $4,000 | From $5,000 | From $8,000 |
Everyday Banking for Business Plans are available for Canadian Dollar Business Current Account only.
Account Fees: Pay only for the services you use
| Currency of Account, interest fees payable in: | CDN$ | US$ |
|---|---|---|
| Deposit fee per transaction2 | ||
| Branch deposits | $1.00 | $1.00 |
| ATM deposits | $1.00 | N/A |
| Point of sale | $1.00 | N/A |
| Debit card return/reversal | Free | N/A |
| Pre-authorized credits/Electronic Funds Transfer | $0.65 | $0.65 |
| Deposit contents fees | ||
| Notes (currency) on deposit (per $1,000) | $2.25 | $2.25 |
| Coin on deposit (per $100, USD accepted at CDN $ par) | $2.25 | $2.25 |
| Items on deposit – (per item, e.g. cheque) – Value for U.S. dollar items deposited to U.S. dollar accounts will be delayed from one to three business days to allow for clearing and international settlement. | $0.20 | $0.20 |
| Account debit per transaction2 | ||
| Cheque | $1.00 | $1.00 |
| Pre-authorized payment/Electronic Funds Transfer | $1.00 | $1.00 |
| Debit card purchase | $1.00 | N/A |
| ATM withdrawal | $1.00 | N/A |
| Branch withdrawal | $1.00 | $1.00 |
| Bill payment (branch or via debit card) | $1.00 | $1.00 |
| Customer Initiated transfer via branch or via debit card | Free | Free |
| Monthly Account Administration Fee | $6.00 | $6.00 |
| Monthly Statement Fee | Free | Free |
| Cheque images returned with your statement | Free | Free |
| Fee (per statement cycle) if statement produced more frequently than account standard | $5.00 | $5.00 |
Additional Details - U.S. Dollar Business Current Account
Do you use cheques to make payments in the United States?
BMO Bank of Montreal will be clearing all your U.S. Dollar Business Current Account cheques in Canada.
Customers who use U.S. dollar cheques to make payments in the United States should be aware that it may take additional time for billers to receive funds. All cheques are encoded for payment through Canada, as specified by the Canadian Payments Association (CPA). BMO Bank of Montreal has no control or authority over this delay. There may also be an additional service fee charged to the biller by their financial institution. Additionally, some smaller U.S. banks may not accept the CPA encoded cheques.
Our solution for businesses that frequently make payments to U.S. suppliers/billers:
BMO Bank of Montreal is able to provide alternative U.S. cash management solutions. For example, Harris Bank3 our affiliate in the United States provides services to meet cheque clearing within the U.S.
