Current BMO account comparison
| Account | Displayed monthly fee | Included activity highlighted by BMO | Best starting point for |
|---|---|---|---|
| Essential Business Account | $5 $60 over 12 months | Unlimited electronic or ATM transactions; 6 Interac e-Transfer transactions monthly; unlimited Moneris transactions. | Startups and businesses operating mostly online. |
| Everyday Business Account | $25 $300 over 12 months | 35 transactions; 15 Interac e-Transfer transactions; $2,500 in cash deposits monthly; unlimited Moneris transactions. | Businesses mixing online and branch banking. |
| Enhanced Business Account | $50 or $0 with a $35,000 minimum balance | 70 transactions; 30 Interac e-Transfer transactions; $4,000 in cash deposits monthly; unlimited Moneris transactions. | Businesses with more extensive transaction needs. |
| Elite Business Account | $75 or $0 with a $75,000 minimum balance | Unlimited electronic or ATM transactions plus 100 in-branch transactions; 500 Interac e-Transfer transactions; $25,000 in cash deposits monthly; unlimited Moneris transactions. | Businesses with complex or high-volume needs. |
Annual figures are monthly-fee arithmetic before overages, add-ons or balance waivers. “Transactions” and included-service definitions follow BMO’s terms and footnotes.
How to narrow the choice
Mostly digital
Start with Essential, then compare the value of its included electronic activity against your expected e-Transfer, cash and branch usage.
Regular branch or cash use
Compare Everyday’s included transaction and cash-deposit limits with the overage charges your activity could create.
Higher volume with retained cash
Enhanced may be worth comparing if your transaction needs are higher and maintaining the displayed minimum balance is practical.
Complex, high-volume activity
Elite has the largest displayed allowances, but compare the $75 fee or $75,000 waiver balance with your real monthly usage.
Do not compare the monthly fee alone
- Estimate electronic, ATM and in-branch transactions separately.
- Check your monthly Interac e-Transfer and cash-deposit volume.
- Include wire, cheque, overdraft and added-service costs that are not summarized here.
- For a balance waiver, compare the saved fee with the flexibility or return you give up by retaining that balance.
- Confirm whether your business type can open online or requires a branch appointment.
Digital banking distinction
BMO says Online Banking is included with a business bank account for common needs. It separately describes Online Banking for Business as a paid, configurable platform for needs such as multiple users, approval controls, global payments, bulk payments, alerts and customizable reports.
Primary source and freshness
This comparison uses BMO’s own business-account overview retrieved on August 15, 2026. Bremo is independent, is not BMO, and does not guarantee that displayed fees or inclusions remain unchanged.
Check current terms at BMO