BMO Premium Business Checking Account
Enjoy all the basics you need from a business account, with a low monthly fee. It's the perfect choice for growing businesses that need additional transaction capacity and cash deposit flexibility while maintaining a low monthly fee.
Open an account in minutes!Product Disclosure and Fees (PDF, 505 KB)
Get all the essential perks and tools you need to manage your business
Per statement period, get footnote 1 and deposit up to $5,000 in cash with no fee.
Use BMO Digital Banking3 to stay on top of payments. It's fast and simple.
Enjoy fee-free banking at 40,000+ BMO and Allpoint® ATMs nationwide footnote 2
Bank anytime with our mobile app: footnote 3 deposit checks, footnote 4 pay bills and move money, from wherever your business takes you, using Zelle® footnote 5
You’ll pay no monthly maintenance fee with an Average Collected Balance of $1,500 or more, otherwise it’s $15/month
Open a checking account online in 3 simple steps
Check that you're eligible
Corporations (S and C), limited liability corporations (LLCs), and sole proprietors can apply for some accounts online.
Apply in minutes
Apply online in minutes and get a decision on the spot. Get ready to apply with our Business Documentation Checklist
Verify your ID with a selfie
To finalize your application, we may ask you to take a photo of your ID and snap a selfie to verify your identity without a financial center visit.
Let's take a closer look at fees and how to avoid them
| Account Fees | Fee Description |
|---|---|
| $15 monthly maintenance fee | Waived with an Average Collected Balance of $1,500+ |
| BMO and Allpoint® ATM transactions footnote 2 | FREE |
| Non-BMO ATM Transaction fee footnote 6 | $3 |
| Transactions footnote 1 (200 free per statement period) | $0.40 for each additional transaction |
| Cash deposits over $5,000 per statement period | $0.30 for every additional $100 deposited |
| Paper Statement Fee/Check Images Fee | $3 for paper statements. $3 for check images. FREE if enrolled in paperless statements. |
Get a full breakdown of fees in the Product Disclosure and Fees (PDF, 505 KB)
Interested in exploring other checking accounts?
We’ve got one that meets your unique business needs.
Everything you need to know about your account
Get the full terms and agreements and learn what you need to apply.
BMO Premium Business Checking Frequently Asked Questions
To open your account, you’ll need to provide some identification and supporting business documentation. Our Business Documentation Checklist includes everything you’ll need to open your new account.
If you’re opening an account online, you’ll also need to verify your identity. We may do this by asking you to take a photo of your ID and snapping a selfie.
It takes around 10 minutes to complete your application, and you’ll receive a decision within 2 minutes.
We’ll waive the $15 monthly maintenance fee when you maintain an Average Collected Balance of $1,500 or more in your account.
Resources to help support your business
Benefits of a business bank account
It might seem easier to use your personal bank account for business transactions, but there are plenty of benefits to opening a business account. Check them out.
Business plan template (Microsoft Word, 49.3 KB)
Use this professional template to help you structure your ideas, define clear goals and plan for the future.
Video: 3 reasons you need a business checking account
Learn how a business bank account can simplify your finances, streamline your bookkeeping and make your business look professional.
Take the next step toward better business banking
Call us
Give us a call to apply or ask questions.
Apply online
Open an account in minutes!
Visit us
Meet with a BMO Business Banker to talk about how we can help your business.
- Footnote 1 details Each additional transaction is $.40. Transactions means non-ATM deposits, checks deposited, checks paid, and ACH credits and debits.
- Footnote 2 details Foreign Transaction Fees will apply to all ATMs outside the United States (i.e. Non-BMO ATMs, Bank of Montreal branded Participating ATMs and Allpoint® Participating ATMs).
- Footnote 3 details Message and data rates may apply. Contact your wireless carrier for details.
- Footnote 4 details Mobile Deposit is available using the BMO Digital Banking app. This service may not function on older devices. Users must be a BMO Digital Banking customer with a BMO account opened for more than 5 calendar days. Deposits are not immediately available for withdrawal. For details, please see the BMO Business Digital Banking Agreement found at bmo.com/us/legal.
- Footnote 5 details To send or receive money with Zelle®, both parties must have an eligible checking or savings account. At BMO, we require you enroll a checking account to use Zelle® for your small business. Transactions between enrolled users typically occur in minutes. Zelle® should only be used to send money to people and businesses you trust. Neither BMO nor Zelle® offers purchase protections for payments made with Zelle®, so money you send may not be recoverable. For details, see the BMO Business Digital Banking Agreement found at bmo.com/us/legal.
- Footnote 6 details Non-BMO ATM Transaction fees will apply at all Non-BMO ATMs and Allpoint® Participating ATMs outside the United States; this fee will be charged for each transaction, except for a transfer or balance inquiry. Except for Bank of Montreal branded Participating ATMs and Allpoint® Participating ATMs, the ATM owner or operator may also charge you a surcharge fee for a withdrawal, transfer, or balance inquiry. Foreign Transaction Fees will also apply to all ATMs outside of the United States (i.e. Non-BMO ATMs, Bank of Montreal branded Participating ATMs and Allpoint® Participating ATMs).
- Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.