BMO is among the most prominent names in the Canadian banking sector, ranking 8th largest in North America by asset size. Their self-stated purpose to "Boldly Grow the Good in business and life" drives their strategy towards a thriving economy, a sustainable future and an inclusive society.
It was named Canada's best-performing bank on The Banker's annual ranking of the Top 1000 World Banks, based on 17 key ratios and eight categories, including growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness and leverage.
BMO has offers to cover all your business needs in Canada, including a variety of Business bank accounts for entrepreneurs of all sizes. We'll go into details of each account and their benefits below.
The eBusiness Plan is ideal for small Canadian business owners, as it has unlimited electronic transactions, no monthly fees, and minimum balance requirements.
BMO's Business Start chequing account is a simple and affordable option for seasonal businesses that only deal with a few monthly transactions. Its main attraction is its low-fees at no minimum balance requirement.
The Business Builder 1 account takes things up a notch. It is ideal for up-and-running businesses that handle a moderate amount of transactions. It features:
The Business Builder 2 plan from BMO allows you to scale up your business for regular monthly transactions, both online and at your local branch, with digital banking solutions. It features:
BMO's Business Builder 3 gives you the capacity to handle a high volume of monthly transactions once business starts picking up. Along with its advanced digital banking solutions, the plan also allows you to waive your monthly fees if you maintain a balance of $35,000.
BMO's premium offering for Canadian businesses is the Business Builder 4 plan, which provides the highest number of monthly transactions, advanced digital banking solutions, and other benefits like fee waivers for maintaining a balance of $80,000.
Whether you're a budding entrepreneur or a seasoned corporation, the right banking solutions can significantly impact your operations, growth trajectory, and financial stability. BMO stands out as a stalwart ally for businesses, offering a suite of tailored solutions through its business accounts. The advantages of banking with BMO include:
BMO's business accounts are meticulously crafted to cater to the diverse needs of businesses, from sole proprietorships to multinational corporations. These accounts serve as the cornerstone of financial management, providing a range of features designed to streamline transactions, optimize cash flow, and facilitate growth, all reasons to bank with BMO in 2024 and beyond.
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