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Help me choose a Business Bank Account

Can’t decide which account is right for your business? No problem. We can help you choose with 8 simple questions.

Help me choose a business bank account

What do you expect your minimum daily balance will be?


How many business banking transactions do you think you’ll make a month in branch or by calling the contact centre?


How many electronic transactions do you think you'll make each month?


Are you currently accepting credit or debit cards?


How many transactions do you see in your bank account per month related to your payment processor?
The average number of transactions per month related to a payment processor is 75


How much cash do you think you'll deposit each month?


How many cheques do you think you’ll deposit each month?


How many cheques do you think you'll write from your account each month?


Which of the following options would your business benefit from having?


Monthly plan fee

Transactions3

Notes (currency) deposited4

Unlimited

Moneris®* transactions

Item deposited4

Did you know you can save money on your BMO business banking fees when you use Moneris to accept payments? Talk to a BMO representative today! Book an appointment Take a closer look
<span style='text-transform:lowercase;'>e</span>Business

eBusiness


NO

Monthly plan fee

NO

minimum balance required

Unlimited

electronic transactions

Unlimited

Moneris®* transactions

2

Interac e-Transfer® transactions

Did you know you can save money on your BMO business banking fees when you use Moneris to accept payments? Talk to a BMO representative today! Book an appointment Take a closer look

Monthly plan fee

Transactions3

Notes (currency) deposited4

Unlimited

Moneris®* transactions

Item deposited4

Did you know you can save money on your BMO business banking fees when you use Moneris to accept payments? Talk to a BMO representative today! Book an appointment Take a closer look
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Take your business further with:

Online Banking for

Online Banking for Business

Did you know you can save money on your BMO business banking fees when you use Moneris to accept payments? Talk to a BMO representative today! Let us contact you

 

iThe monthly Business Banking Plan transaction limit includes 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.

 

iiStandard deposit contents fees will be waived on each month’s deposits up to these limits.

 

iiiThe monthly Business Banking Plan fee can be eliminated by maintaining the minimum monthly balance at all times in a Business Account. Customers are responsible for all other fees relating to any transactions, services and products not included in the Business Banking Plan. The minimum balance waiver is only eligible for customers with the Business Builder 3 and 4 Business Banking Plans.

 

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

 

2 Mobile Banking is only available for customers registered for Online Banking.

 

3 Electronic transactions exclude transactions completed at a BMO branch or with the assistance of a Customer Contact Centre associate.

 

4 Assisted transactions refer to those completed with a Customer Contact Centre associate.

 

5 Although BMO will not charge any fees in addition to your monthly Plan or account fees to access Mobile Banking, additional service fees may be charged by your service provider. Check with your service or hardware provider if you have questions about your specific device.

 

6 Applies to 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. 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.)

 

7 Transactions include cheques negotiated and other debit or credit transactions to the account, including deposits (except cash and coin), withdrawals, electronic credits and debits, bill payment debits or debit card debits and credits. Cash and/or coin deposits are subject to deposit content fees of $2.25 per each $1,000 for cash and $2.25 per each $100 for coin.

 

8 There are no daily or monthly transaction fee limits. A $5.00 per item fee will apply to each transfer.

 

9 Overdraft limits range from $500 to a maximum of $2,499.99 and are subject to credit qualification.

 

10 Available in Canadian dollars only.

 

11 Interest is calculated on the daily overdrawn balance at prevailing overdraft interest rates and charged to the account on the last business day of each month.

 

12 A $5.00 per item fee will apply to each debit transaction that creates or increases the overdraft up to your approved limit.

 

13 There are no daily or monthly transaction fee limits. A $5.00 per item fee will apply to each debit transaction that creates or increases the overdraft.

 

14 This fee is in addition to any applicable transaction fees.

 

15 You are required to provide initial setup instructions for this service.

 

16 Interac e-Transfer service may be restricted based on BMO Debit Card for Business privileges.

 

17 Interac e-Transfers can only be sent from a Canadian dollar business account. Sending an Interac e-Transfer is considered an electronic debit to the account. Excess item or account per item fees may apply. The Interac e-Transfer fee is non-refundable, this includes cancellations. The AgriInvest Account and Business Premium Rate Savings Account are restricted from sending Interac e Transfers.

 

18 Interac e-Transfers can only be credited to a Canadian dollar account. There is no additional charge to receive an Interac e-Transfer. Receiving an Interac e-Transfer is considered an electronic credit to the account. Excess item or account per item fees may apply.

 

19 Your Interac e-Transfer send limit may be lower than the posted daily limit depending on the Bill Payment Limit assigned to your BMO Debit Card for Business.

 

20 BMO self-serve channels include BMO Online, Mobile and Tablet Banking, BMO Online Banking for Business, Telephone Banking (when using the interactive voice response (IVR) sytem and BMO ATMs.

 

 

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