Bank of Montreal Business Account

Trademark Disclaimer : Bank of Montreal* is a trademark of Bank of Montreal with whom Remitbee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Bank of Montreal

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

Pay with

Estimated delivery time

How To Open a Business Bank Account With the 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. Follow 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 address, 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 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, or
A sole proprietorship

Required Documentation To Open a BMO Business Account

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 (or the likes)
Review additional required documents to open a new business account

Fees for BMO Business Accounts

The fees associated with your account depend on your plan. Refer to this list:

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

Meanwhile, Simple Business Checking Accounts may incur the following fees:

Monthly maintenance fee: $10
Per transaction: $0.40
Cash deposits over $2,000 per statement period: $0.25 for every additional $100 deposited
Non-BMO ATM transactions: $3
Paper statement fee/Check images fee: $3

Check the Remitbee Business Account

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:

Send up to $100k
Free services for transactions above $500
Receiving money takes only minutes
Competitive exchange rates
100% money-back guarantee

Creating a business account with Remitbee is a straightforward process similar to setting up a personal account. You must provide proof of your business account to verify your address. To learn more about setting up a business account on Remitbee, please visit this link.

Other Bank Business Accounts

Download Remitbee Mobile App

Created for our customers on the go, the Remitbee app has all the functionality you expect from the website compacted into your iPhone or Android device! Designed for speed, efficiency and safety, our app is the best way to use Remitbee.