Where BMO fits
BMO is most attractive to businesses in its U.S. footprint that want relatively low published balance thresholds for fee waivers. The lineup also provides a distinct digital option, which helps separate online-heavy businesses from companies that need larger transaction and cash-deposit allowances at branches.
Checking structure
BMO offers a broad four-account business-checking lineup that spans low-balance branch banking, a mid-tier operating account, a higher-capacity relationship account and a digital-first option for businesses that receive more ACH and wire payments online.
Transactions and cash deposits
Simple includes 100 free transactions and $2,000 in cash deposits each statement period. Premium increases those allowances to 200 transactions and $5,000 cash. Elite provides 500 transactions and $20,000 cash. Digital emphasizes unlimited free incoming ACH transactions and incoming wires, with a smaller $1,000 cash-deposit allowance.
Relationship economics
Current published monthly fees are $10 for Simple, $15 for Premium, $25 for Elite and $10 for Digital. The corresponding average collected balance waiver thresholds are $100, $1,500, $10,000 for Elite (or $25,000 combined monthly business balances), and $500 for Digital.
Who should compare BMO closely
Businesses seeking low balance thresholds for fee waivers, plus online-heavy firms that can use Digital’s incoming ACH/wire economics and do not need heavy cash handling.
Current business checking comparison
| Account | Monthly fee | How the fee can be avoided | Operating allowance / notable feature |
|---|---|---|---|
| Simple Business Checking | $10 or $0 | $100 average collected balance | 100 free transactions; $2,000 free cash deposits per statement period |
| Premium Business Checking | $15 or $0 | $1,500 average collected balance | 200 free transactions; $5,000 free cash deposits per statement period |
| Elite Business Checking | $25 or $0 | $10,000 average collected balance or $25,000 combined monthly business balance | 500 free transactions; $20,000 free cash deposits per statement period |
| Digital Business Checking | $10 or $0 | $500 average collected balance | Unlimited free incoming ACH and incoming wires; $1,000 free cash deposits per statement period |
Primary sources
A flexible four-account lineup with notably attainable balance waivers and a genuinely differentiated digital tier.
Businesses seeking low balance thresholds for fee waivers, plus online-heavy firms that can use Digital’s incoming ACH/wire economics and do not need heavy cash handling.