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Business Bank Accounts and Plans

Business Plans

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Pick a date, time, and location that’s best for you

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What small business plan is right for me?

We can help you choose with six simple questions.

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Accounts built with you in mind

Business Premium Rate Savings Account

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

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Community Account

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

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AgriInvest Account

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

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Business Current Account

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

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

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 transactions21.


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Terms and Conditions

  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. The 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 Plan
  4. Assisted transactions refer to those completed at a BMO branch or with the assistance of 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.
  21. Speak to your tax professional for tax advice.
  22. Moneris payment processing fees still apply. 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.)
  23. Customers are allowed one Canadian Dollar Business Account included in the Business Banking Plan. Interest-Bearing Business Current Accounts (existing customers) are not eligible for Bank Plan benefits.
  24. The $1.50 per-item fee is waived for the first two Interac e-Transfer transactions sent each month. Sending and receiving money with Interac e-Transfer counts as an electronic transactions. Electronic excess or per-item transaction fees may apply.
  25. Access to BMO Online Banking for Business is subject to individual agreements and applicable fees. Fees subject to change.
  26. The monthly Business Banking Plan transaction limit includes cheques negotiated and other debit and 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 customer initiated transfers between Business Bank Accounts. Cheques debited and transactions completed in branch or with an associate at the Customer Contact Centre count towards the monthly transaction limit first. Customer initiated transfers between Business Bank Accounts and account transaction histories completed through BMO Online Banking for Business, BMO Online Banking, BMO Mobile or BMO Tablet Banking do not count towards the monthly transaction limit.
  27. The 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.
  28. Standard deposit contents fees will be waived on each month’s deposits up to these limits.