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Community Account

 

 

 

 

  • Lower-cost banking for local not-for-profit organizations
  • 20 monthly transactions, including five in-branch deposits
  • Easy account access and around-the-clock depository

 

 


 

Best for

 

Free up funds for your good cause by saving on your day-to-day banking. This unique account is our way of recognizing the good work you’re doing, providing lower-cost banking for organizations like yours.

 

  • Small local not-for-profit organizations
  • Organizations who need access to in-branch deposits – anytime of the day or night
  • Organizations looking to save money – so they can put more funds to good use
  • Small local not-for-profit organizations
  • Organizations who need access to in-branch deposits – anytime of the day or night
  • Organizations looking to save money – so they can put more funds to good use

Not sure where to start?

 

Let us help you find what you need by telling us a bit about your business.

 

Number of years in business

 

Annual revenue

 

Number of employees

 

 

Where You’re At

Starting Out

 

Sounds like you’re getting your business started. We have products, tips and tools that can help you get your business off the ground.

 

 

Growing Your Business

 

Looking to grow your business? We can help you build on what you’ve established, with services and solutions designed to take your business to the next level.

 

Managing Your Business

 

We can help you run your business more efficiently with cash flow, payroll and payment solutions that will make your day-to-day operations easier.

 

Transitioning

 

We can help you get the most out of what you put into your business, with succession and retirement planning services to suit your needs.

 

 


Banking with Us

We have bank accounts and plans designed to suit the needs of your business. Find the best match for you.


Credit Cards

Looking to separate your business and personal expenses? Explore our selection of Business Credit Cards.


Business Borrowing

Whether you’re looking to expand or to simply improve your cash flow, we have loans and lines of credit that can help.


Commercial Borrowing

We offer flexible borrowing solutions designed to help larger businesses grow and operate more efficiently.


Accepting Payments

Enjoy access to innovative, industry-leading payment solutions that make it easier for your customers to pay you.


Payroll Services

We can help make payday easier, with payroll solutions that ensure your employees are paid and taxed accurately.


Paying Taxes

We can help you file and pay government taxes online, including payroll source deductions, corporate income tax, GST and PST.


Cash Management

Our extensive cash management solutions can help you efficiently manage your payables, receivables, liquidity and risk.


Corporate Cards

Looking to simplify, control and monitor employee spending? Explore our wide range of corporate card options.



More information to help you choose

 

 

Account fees

Account fees

 

No Monthly Account Administration fee when you keep a minimum balance1 of $5,000 in your account.

 

Account fees  
Monthly Account Administration fee $2.50
Monthly transactions2 included (includes a maximum of five in-branch deposits) 20
Monthly items on deposit (e.g. cheque) 25
Monthly notes (currency) on deposit included $2,500
Monthly notes (coin) on deposit included $250
Quarterly paper eStatement Included
Per item fees when you exceed the number of free transactions:
Deposit fee2 (includes branch, ATM and electronic3 credits $1.25
Cheque $1.25
Electronic3 debit $1.25
Withdrawal $1.25
Bill payment $1.25
Deposit contents:
Notes (currency) on deposit (per $1,000) $2.25
Coin on deposit (per $100, U.S. coin accepted at par) $2.25
Items on deposit (per item, e.g. cheque) $0.20
Additional fee, per statement cycle, if your statement is produced more frequently than quarterly $5.00
Account features

Account features

 

 

What you get every month

 

  • 20 monthly transactions2 - including five in-branch deposits
  • Access to your account in-branch and through all our electronic channels
  • Around-the-Clock Depository – ideal for special events (includes coin wrappers)
  • Personal-size Securitone cheques
  • Quarterly paper statement (with Cheque Images held in safekeeping) or eStatement
  • Cheque and cash deposits (within specified limits)
  • BMO® Debit Card for Business
  • Available in Canadian dollars

Next steps

 

 

Switch to BMO

Switch to BMO easily & seamlessly

Whether you’re switching to BMO, or you already bank with us, we’ll assist you with transferring your pre-authorized payments and deposits to BMO.

 

Visit one of our branches, give us a call, or make an appointment to get started. The transfer generally takes four to six weeks to complete, and after that, you’ll be good to go.

 

 

 

 

 

Ways to bank

Ways to bank from in-person, to online or mobile or tablet

Count on hassle-free access to your business accounts

 

Bank online, by phone or using your mobile device 24 hours a day, 7 days a week, 365 days a year1

 

Take advantage of over 900 BMO® branches across Canada offering a full range of financial services

 

Access your money, make deposits, transfer funds, get account balances and pay bills at any BMO® ATM

 

 

 

 

Use your BMO Debit Card for Business to make purchases anywhere you find the Interac®‡ Direct Payment in Canada and the Maestro®* network anywhere else in the world.

 

Call us seven days a week (8 a.m. – 8 p.m. EST), we're here to help. For questions, call the Customer Contact Centre – Commercial Service at 1-877-262-5907 or TTY 1-866-859-2089

Banking Agreements

What to bring to a branch meeting

If you're a sole proprietor

Registered documents you'll need to bring

 

If operating under a registered Trade Name, bring one of the following:

  • Trade Name Registration
  • Master Business License

For a corporation

Registered documents you'll need to bring

 

If your business has been in existence less than 18 months, bring one of the following:1

 

  • Complete Articles of Incorporation
  • Letters Patent/Company Charter
  • Articles of Amendment
  • Articles of Amalgamation
  • Corporate Profile Report

 

If operating under a registered Trade Name, bring one of the following:

 

  • Trade Name Registration
  • Master Business License

 

If your business has been in existence more than 18 months, in addition to the above documents, bring one of the following:

 

  • Annual/Statutory Return
  • Certificate of Status
  • Certificate of Compliance/Existence and any filings under the applicable provincial securities legislation, such as financial statements
  • Financial statement or annual report signed by independent accounting firm
  • Government Assessment
  • Corporate search

 

If operating under a registered Trade Name, bring one of the following:

 

  • Trade Name Registration
  • Master Business License
  • Identification Requirements
  • Name, address, occupation or nature of primary business
  • Percentage ownership and type of ownership (direct or indirect) for any person or company with an interest of 25 per cent or more of your business
  • Name, occupation, and date of birth information, along with personal identification, for up to three authorized signatories
  • Name and occupation information for any directors or officers

 

 

Identification Requirements

 

  • Name, address, and nature of primary business
  • Percentage ownership and type of ownership (direct or indirect) for any person or company with an interest of 25 per cent or more of your business
  • Name, occupation, and date of birth information, along with personal identification, for up to three authorized signatories
  • Name and occupation information for any directors or officers

 

1 Documents include the names of current directors and/or officers and outline who has the power to delegate authorities and/or borrow on behalf of the corporation (if applicable)


If you're in a partnership

Registered documents you'll need to bring

 

If your business is a General Partnership, bring the following:

 

  • Partnership Registration (if applicable)
  • Partnership Agreement

 

If operating under a registered Trade Name, bring one of the following:

 

  • Trade Name Registration
  • Master Business License

 

If your business is a Limited Partnership, the following:

 

  • Limited Partnership Agreement
  • Certificate of Limited Partnership/Declaration of Limited Partnership/Application for Registration of a Limited Partnership

 

If operating under a registered Trade Name, bring the following:

 

  • Trade Name Registration
  • Master Business License

 

 

Identification Requirements

 

  • Name, address, occupation or nature of primary business
  • Percentage ownership and type of ownership (direct or indirect) for any person or company with an interest of 25 per cent or more of your business
  • Name, occupation, and date of birth information, along with personal identification, for up to three authorized signatories

For an Unincorporated Association

Registered documents you'll need to bring

 

If your business has been formally established, bring one of the following:

 

  • Articles of Association
  • Copy of by-laws or constitution disclosing names and titles of directors and/or officers

 

If not formally established, bring:

 

  • Letter from the organization disclosing who has the authority to open and operate the account

 

 

Identification Requirements

 

  • Name, address, occupation or nature of primary business
  • Percentage ownership and type of ownership (direct or indirect) for any person or company with an interest of 25 per cent or more of your business
  • Name, occupation, and date of birth information, along with personal identification, for up to three authorized signatories
  • Name and occupation information for any directors or officers


Related products

 

 

 

 

Business Current Account

 

A pay-as-you-go account for your basic banking needs. Easily layer on one of our Business Banking Plans.

 

Learn more
BMO CashBack MasterCard

 

BMO CashBack MasterCard

 

Get CashBack® rewards from every purchase, and pay no annual fee for your card3.

 

Learn more

 

 

 

Small Business Line of Credit

 

A simple and flexible financing solution that lets you borrow what you need, when you need it5.

 

Learn more

 


®Registered trade-mark of Bank of Montreal

®* MasterCard is a registered trademark of MasterCard International Inc.

All other marks or registered trade-marks are the property of their respective owners.

 

1The minimum monthly balance that must be maintained throughout the month to obtain a waiver of the fixed plan fee for that month. The minimum monthly account balance must be maintained in the account debited for the monthly fee to qualify for the monthly plan fee waiver for that month.

 

2Transactions include cheques negotiated and other debit or credit transactions to the account including deposits, withdrawals, electronic credits and debits, bill payment debits or debit card debits and credits.

 

3Electronic refers to any transaction originated and processed electronically including Electronic Funds Transfer, Telephone/ABM/Online Banking, point of sale or via debit card.

 

4Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. See your branch; call the Customer Contact Centre at 1-800-263-2263, or visit bmo.com/creditcards for current rates and fees.

 

5Subject to meeting Bank of Montreal’s usual credit granting criteria.

 

 

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