Electronic transactions include electronic credits and debits, bill payments or BMO Debit Card for Business purchases and refunds. Electronic transactions exclude client-initiated transfers between Business Bank Accounts, cheques deposited through Mobile Cheque Deposit and transactions completed at a BMO branch or with the assistance of a Customer Contact Centre associate,Interac e-Transfers®§section (beyond plan limits), and cheques debited on the account.
Interac e-Transfer service may be restricted based on BMO Debit Card for Business privileges. Interac e-Transfers can only be sent and received from and to a Canadian dollar account, excluding AgriInvest and Business Premium Rate Savings Accounts. Sending Interac e-Transfers count as electronic transactions. Interac e-Transfer transactions are subject to maximum send and receive dollar amounts. Excess transaction fees may apply if you perform an Interac e-Transfer transaction over and above the number of transactions allowed for the Plan. A cancellation fee of $5.00 may still apply when you cancel the transaction. The time used for determining if an Interac e-Transfer is cancelled the same day is 12 a.m. ET. All Interac e-Transfers sent on or after 12 a.m. ET and cancelled before 12 a.m. ET the same day, will not be charged the cancellation fee. This fee is in addition to the non-refundable $1.50 Interac e-Transfer fee, if applicable.
Moneris payment processing fees still apply. Unlimited Moneris transactions means all deposits posted by Moneris to your BMO business account in connection with your acceptance of Mastercard, Visa*, Interac, Discover* or Union Pay* branded cards and American Express* transactions that are settled by Moneris – including deposit of settlement funds, terminal rental fee, and any other fees. American Express credit card transactions that are not settled through Moneris are not included in unlimited Moneris transactions, and are subject to separate terms and conditions where standard transaction fees apply. Refer to Moneris Solutions for complete details. All other debit or credit transactions posted to your BMO account related to any other brand of card processed using Moneris services are not included and may be subject to transaction limits associated with your Plan and/or excess per-item transaction fees. (*Visa, Discover, American Express and Union Pay are trademarks of their respective owners.)
BMO processes Next Day Settlement files daily. Fund accessibility is dependent on system close times confirmed with Moneris between the Merchant and Moneris during client onboarding. For transactions processed during the weekends, funds are accessible the next day (subject to the system close times) but the date reflected in the client’s statement will be the next business day.
The monthly Business Bank Plan transaction limit includes cheques negotiated and other debit or credit transactions to the account including deposits, withdrawals, electronic credits and debits, bill payments or BMO Debit Card for Business purchases and refunds, and excludes client-initiated transfers between Business Bank Accounts and cheques deposited through Mobile Cheque Deposit. Cheques debited and transactions completed at a BMO branch or with an associate at the Customer Contact Centre count towards the monthly transaction limit first, followed by electronic transactions. Client-initiated transfers between Business Bank Accounts, account transaction histories completed through BMO Online Banking for Business, BMO Online Banking or BMO Mobile Banking and cheques deposited through Mobile Cheque Deposit do not count towards the monthly transaction limit. In-branch bill payments are not part of transactions limits and are charged separately. Deposit transactions are subject to deposit contents fee.
In-branch transactions refer to those completed at a BMO branch or with the assistance of a Customer Contact Centre associate. Cheques drawn on the account and in-branch transactions count towards the Business Bank Plan transaction limit first, followed by electronic transactions.
Standard deposit contents fees are waived on each month’s deposits up to these limits. Deposit contents include cash and coin deposited, as well as items deposited (including, but not limited to, cheques, money orders, bank drafts, and certified cheques).
If you have the Enhanced or Elite Business Bank Plan, the monthly Plan fee will be waived if you maintain the minimum monthly balance in your account at all times. You are responsible for all other fees relating to any transactions, services and products not included in the Business Banking Plan.
Rounded up to the nearest $1,000 for notes deposited.
Access to BMO Online Banking for Business is subject to additional individual agreements and applicable fees. Fees subject to change. Savings shown are as of the time of publication of the Better Business Banking Guide and are only for illustration purposes.
BMO was named Best Commercial Bank by World Finance Magazine for the 11th consecutive year in 2025.
BMO was recognized by Digital Banker for Innovation & Customer Experience in 2024.
