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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Small Business Banking Plan

Monthly Plan Fee: $9.50

If you need the flexibility to access your Canadian dollar business current account both electronically and in-branch, this simple, cost-effective plan could be the one for you.

What you get every month

  • FREE when you keep a minimum monthly balance1 of $4,000 in your account
  • 15 monthly transactions2
  • Unlimited Moneris®‡ debits and credits
  • Access to your account in-branch and through all our electronic channels
  • Unlimited account balance and account history inquiries
  • Unlimited transfers (customer initiated)
  • Monthly eStatement with Cheque Image return
  • BMO® Debit Card(s) for Business
  • Cheque and cash deposits (within specified limits)
  • New Business Start-Up Package: New businesses (in first nine months of operation) pay no plan fee for the first three months

Additional options for cash or cheque based businesses

More Cheques More Cash
Monthly Plan fee $9.50 $9.50
Monthly transactions2 included 15 15
Monthly items on deposit (e.g. cheque, draft etc) 20 10
Monthly notes (currency) on deposit included $1,000 $4,000
Minimum monthly balance1 required to waive Plan fee $4,000 $4,000
Excess fees — in addition to monthly plan fee (per item)
Transactions2 over plan limit $1.25 $1.25
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) $0.20 $0.20
Monthly Paper Statement Fee with Cheque Images $2.00 $2.00

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

Everyday Banking for Business Plans are available for Canadian Dollar Business Current Account only.

Terms and Conditions

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