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Business Bank Accounts and Plans


 


Business banking plans to meet the needs of your business

 

This is the place to start! We’ve put together plans based on number and types of transactions1, to help you determine what you really need out of your banking. (Tip: You can always change plans if your banking needs change.)

 


 

 

 

BMO Biz Basic™ Plan

A basic plan for your essential banking needs. Why complicate things?

 

Monthly fee

$6

 

Learn more

 

 

 

Small Business Banking Plans

A flexible, cost-effective plan for online
and in-branch banking.

 

Monthly fee

$9.50

 

Learn more

 

 

 

Value Plans

Bank remotely and save. Plus, choose a transaction1 level to meet your needs.

 

Monthly fee

$15 - $125

 

Learn more

 

 

 

Value Assist® Plans

It’s value and convenience wrapped up in one – choose to bank electronically or in the branch.

 

Monthly fee

$22 - $135

 

Learn more


Compare Business Banking Plans

 

Take a look at the fees and benefits of our plans, side by side.

 

Learn more

Meet with us

 

Choose the date, time and branch location that’s best for you.

 

Set a time now

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.



Accounts built with you in mind

 

Whether you need a convenient chequing account, a savings account to park extra funds, or a specialized account that works even harder for you, we’ve got you covered.


Business Premium Rate Savings Account

Put your extra cash to work for you, earning interest for your business.

 

Learn more

Community
Account

A low-cost account offered exclusively to locally based non-profit organizations.

 

Learn more

AgriInvest
Account

A no-monthly fee, interest-bearing savings account for agricultural businesses.

 

Learn more

Business Current
Account

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

 

Learn more

 

 


Why it’s important to separate your business banking from your personal banking

More reasons to choose us

 

You know better than anyone that it can be tough to separate your business life from your personal life. So don't mix your banking. Having an account can help you easily identify your business expenses (which can help during tax time), build a credit history in your company's name, and deduct fees and interest that you might incur as a result of business transactions2.


More reasons to choose us

 


Ways to Bank

Ways to Bank

Automated Teller Machines (ATMs)

Make deposits, pay bills, withdraw funds, transfer money and access your account information 24/73 through our network of Automatic Teller Machines (ATMs) with your BMO Debit Card for Business.

 

 

Telephone Banking

Receive account balance information, transfer funds, pay eligible bills and check loan, mortgage and deposit rates from anywhere in Canada and the United States.

 

 

Mobile Banking

Do your banking from wherever you are. View your balances, transfer funds, pay eligible bills, book a branch appointment and more – all from your smartphone or tablet.

 

View our Business Banking Agreement

 

View our Better Banking Guide for Business

 

BMO® Online Banking

Quickly and simply manage your banking whenever you want. View your balances and transactions, send or receive an Interac e-Transfer®‡, pay bills, transfer funds, file your taxes, initiate payroll source deductions, and schedule future payments. BMO Online Banking comes free with any of our Business Plans.

 

 

BMO Online Banking for Business

When your banking needs are more complex, BMO Online Banking for Business offers enhanced services, allowing you to make even your advanced transactions from the comfort of your home or office. You can deposit cheques online with BMO DepositEdge™, make wire transfers, and debit Canadian and U.S. dollar accounts at any financial institution in Canada via Electronic Funds Transfer (EFT).


Other services

Other services

 

 

We have a number of other services that we offer to our business clients. Services which are not contained in this summary may be obtained from your Relationship Manager, your branch or by calling the Customer Contact Centre - Business Services.

Our other business services include the following:

 

  • Overdraft Protection Service
  • Bill payments
  • Overdraft per item charge (OPIC)
  • Request for transfer of funds
  • Access to accounts through non-BMO channels
  • BMO Debit Card for Business access
  • Deposit services (Around-the-clock Depository services, cash and coin supplied, disposable UNISTOP bags, safety deposit boxes)

 

Download fees table for these services

 

 

 

 

  • Cheque handling (certified cheques, deposited items returned unpaid, foreign currency items, items sent for collection, NSF, post-dated cheque held for deposit, stop payment, purchasing travellers cheques)
  • Sundry (account closure, credit reports, bank confirmation / audit certificates, certificate of account balance, loan or interest, credit or debit memo, customized cheques, dormant account notice, faxing information outbound, searches, standing offer)
  • Payment and wire payments (money order, drafts, official cheques)

International banking

Canada, United States and International banking

 

 

If you have operations across the border and around the world, you need local advice and the ability to conduct seamless international operations. We can help, with extensive cross-border services that can help you monitor trends, execute transactions and maintain flexible negotiations with international suppliers, clients and distributors.

 

Talk to a Commercial Expert and call us at 1-877-262-5907


Our service commitment

Our Service Commitment

As a business banking customer of BMO, you expect a certain level of service and commitment from us, and you also expect us to go the extra mile in helping your business to achieve its goals.

 

Our goal is to be the only financial services provider you'll ever want to do business with, so it is our commitment to you that we will always provide you with:

 

  • clear and open communications; and
  • options for complaint resolution

 

 

It also means that you'll always know where you stand with us on matters that pertain to your business and you'll always be treated with respect.

 

Learn more about our Service Commitment

Documents you need

 

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 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

 

 


®Registered trade-mark of Bank of Montreal

™Trade-mark of Bank of Montreal

 

1 Transactions 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.

 

2 Speak to your tax professional for tax advice.

 

3 Subject to interruptions in telecommunications or online systems or in power supply or any other factor or even beyond the control of Bank of Montreal.

 

 

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