Business Savings Builder Account

 ^{Footnote 1 details 1} For every month your Business Savings Builder account balance grows by at least $500, we will credit the account with a $10 savings reward within 5 calendar days after the end of the month. To calculate if your balance has grown by $500, we will compare the Ledger Balance on the last Business Day of the previous month to the Ledger Balance on the last Business Day of the current month. Interest and savings reward payments will not count towards your balance growth. Tip: Deposits made on weekends and holidays will not be processed until the next Business Day. To ensure your deposit is counted for the current month, avoid scheduling your recurring transfer or deposits towards the end of the month. 

Your account is eligible for 12 savings rewards beginning with the month your account is opened. The first savings reward is based on your savings growth from the Business Day the account is opened through the last Business Day of that month. If your initial deposit is not received until the month after account opening, the account will only be eligible for 11 savings rewards.

Your account must be open when the savings rewards are paid. Savings rewards will be reported to the IRS for tax purposes and you are responsible for any applicable taxes. 

Exclusions

• Savings rewards are available for new accounts only. An account switched into Business Savings Builder from a different product is not eligible for savings rewards.
• Savings rewards are limited to one Business Savings Builder account per customer as Primary Account Owner. Only your first account opened is eligible for savings rewards.
• You are not eligible to receive savings rewards if you have previously opened a Business Savings account between February 3, 2020 and October 18, 2021 and participated in the Business Savings account – Savings Rewards offer.

Minimum opening deposit of $100 is required for Business Savings Builder accounts. Business Savings Builder is a variable rate account. For account and fee information or current rates, call 1-800-546-6101.

 ^{Footnote 2 details 2} Please visit www.fdic.gov for current deposit insurance limits. 

 ^{Footnote 3 details 3} Message and data rates may apply. Contact your wireless carrier for details.  

 ^{Footnote 4 details 4} All Interest Rates and Annual Percentage Yields (APY) are accurate as of the effective date shown above. For variable rate accounts interest rates and APYs may change after the account is opened. At our discretion we may change the interest rate on these accounts daily. For accounts that have more than one tier, the interest rate corresponding to the highest tier into which the collected balance falls will be paid on the entire collected balance. Interest rates and APYs offered within two or more consecutive tiers may be the same. In this case, multiple tiers will be shown as a single tier. Interest is calculated on the entire collected balance daily at the rate in effect for that balance tier. You must maintain the required minimum collected balance for each tier to earn the APYs disclosed. A periodic rate is applied on the collected balance in the account daily. Interest is compounded daily on the collected balance and credited to the account monthly on the statement period date. Checks you deposit into your account begin to earn interest on the Business Day we receive credit for them. Fees and withdrawals may reduce earnings. For account and fee information or current interest rates, visit bmo.com.

 ^{Footnote 5 details 5} The monthly fee for paper statements is automatically waived if you opt to go paperless through your BMO Digital Banking or Online Banking for Business preferences.

 ^{Footnote 6 details 6} 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 balance inquiry. Foreign Transaction Fees will also apply to all ATMs outside the United States (i.e. Non-BMO ATMs, Bank of Montreal branded Participating ATMs and Allpoint^® Participating ATMs).

 ^{Footnote 7 details 7} 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.