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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

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 eStatement 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 $1.25 $1.25
ATM deposits $1.25 N/A
Point of sale $1.25 N/A
Debit card return/reversal Free N/A
Pre-authorized credits/Electronic Funds Transfer $1.25 $1.25
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 $1.25 $1.25
Pre-authorized payment/Electronic Funds Transfer $1.25 $1.25
Debit card purchase $1.25 N/A
ATM withdrawal $1.25 N/A
Branch withdrawal $1.25 $1.25
Bill payment (branch or via debit card) $1.25 $1.25
Customer Initiated transfer via branch or via debit card Free Free
Monthly Account Administration Fee $6.00 $6.00
Monthly eStatement with Cheque Image return Free Free
Monthly Paper Statement Fee with Cheque Images $2.00 $2.00
Fee (per statement cycle) if statement produced more frequently than account standard $5.00 $5.00

Overdraft Protection for Small Business

If you have a Business Current Account or an account with a Small Business Banking Plan, Value Plan or Value Assist Plan, Small Business Overdraft Protection is now available to support your cash flow needs.

Our Small Business Overdraft Protection Service is designed for your business if you require less than $2,500 in overdraft protection4. There are two fee options available:

1. Fixed Fee
  • Overdraft protection readily available
  • $4.00 per month fee applies5,6
2. Pay-per-use
  • Only pay for overdraft when you need it
  • $5.00 per item fee applies5,7,8

Overdraft Transfer Service is available to have funds transferred from your other BMO account, BMO Small Business MasterCard®*† card or your Small Business Line of Credit9. A fee of $5.00 per transfer applies8,10.

Interac e-Transfer for Online, Mobile & Tablet Banking

Send or receive money using Interac e-Transfer®* for your business11. Quickly, easily and securely send and receive money to and from: vendors, employees and more.

Fee per Interac e-Transfer on all accounts and plans:

  • Sending an Interac e-Transfer12: $1.50
  • Receiving an Interac e-Transfer13: No additional charge

Daily Interac e-transfer limits14:

Sending an Interac e-Transfer Limit:

  • 24-Hour: $3,000
  • 7-Day: $10,000
  • 30-Day: $20,000

Receiving an Interac e-Transfer Limit:

  • 24-Hour: $10,000
  • 7-Day: $70,000
  • 30-Day: $300,000

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.

Terms and Conditions

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