Bank of Montreal business account
The Bank of Montreal (BMO) is one of the oldest banks in Canada, with a rich history that dates back to 1817. It was founded in Montreal, Quebec, by a group of businessmen led by John Richardson. With over 1,500 branches throughout North America and a workforce of 45,000 employees, BMO provides personal and commercial banking and investment services.
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How To Open a Business Account With Bank of Montreal?
Interested applicants must contact a representative to open a business account at BMO. The bank offers services for everyday operations, loans, and savings. Refer to these steps to get started:
- For an easier process and more personalized service, select whether your business's annual revenue reaches up to $250k, $10M, or $10M+.
- Find a business banking professional in this portal to help you.
- You can also book an appointment by filling out this form.
- You can also call the Bank of Montreal at 1-877-262-5907.
- On the other hand, small businesses can easily open a checking account. Be guided by these steps:
- Open this form to apply for a BMO Simple Business Checking Account.
- Input your name, email, and phone number.
- Tell more about your business.
- After filling out the form, check the boxes for disclosures and additional info.
- You may also add a promo code if you have one.
- Click Submit Application, then wait for a representative to contact you.
Eligibility for Opening a BMO Business Account
You can easily apply for a business checking account if your business is:
- A C or S corporation
- A limited liability corporation
- A sole proprietorship
Required Documents for BMO Business Account Application
The Bank of Montreal needs different documents to open a business checking account depending on your business structure. Here's what you should have ready:
- Two forms of personal identification (e.g., ID) of owners/partners/key executives
- Employer identification number
- Articles of Incorporation (if applicable)
- Name registration of the business
- Review additional required documents to open a new business account
BMO Business Account Fees
BMO offers different plans depending on your business needs. Here is a summary of how much you may incur when you use BMO for your business transactions:
Business Plans
- eBusiness Plan: $0/month
- Business Start: $6/month
- Business Builder 1: $22.50/month
- Business Builder 2: $45/month
- Business Builder 3: $80/month
- Business Builder 4: $120/month
Simple Business Checking
- Monthly maintenance fee: $10
- Per transaction: $0.40
- Cash deposits over $2,000 per statement period: $0.25 for every additional $100 deposited
Other Fees
- Non-BMO ATM transactions: $3
- Paper statement fee/Check images fee: $3
Consider Remitbee for Your Business Account Needs
Our Remitbee offers a convenient and cost-effective solution for your business's regular transactions. Registering for an account online allows you to enjoy swift verification and conduct transactions without any complications.
In addition, Remitbee provides a highly advantageous CAD-USD exchange rate and a minimal conversion fee that ranges from 0.3% to 0.6%. It means that customers have the potential to save up to $2,000.
Explore the advantages that Remitbee can provide for your business:
In addition, Remitbee provides a highly advantageous CAD-USD exchange rate and a minimal conversion fee that ranges from 0.3% to 0.6%. It means that customers have the potential to save up to $2,000.
Explore the advantages that Remitbee can provide for your business:
- Send up to $100k
- Free services for transactions above $500
- Receiving money takes only minutes
- Competitive exchange rates
- 100% money-back guarantee
Best app for international business transfers
Remitbee is the best and most secure option when you send money from Canada internationally
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