Better Banking Guide For Business

Starting and managing your businessWhether you are just starting upa business or looking for ways torun your business more efficientlyand cost effectively, we can help.Our business clients have access tonews and insights around starting,managing and growing a business: Opening a business accountTo open a business account, you will needto bring registered documents based onthe structure of your business. Additionaldocumentation may be necessary dependingon the type of business you have and otherrequirements. Contact your local BMO branchfor details.Tools & Tips for small business ownersWebinars & EventsArticles & videosPress releasesVisit bmo.com/businessnews6Business Banking

BMO Business Accounts,Plans and FeesFees are calculated according to service usageand charged monthly. For additional services andfees not listed, please refer to Sundry fees. Fees arepayable in U.S. dollars from U.S. dollar accounts.Better Banking Guide7

BMO Business Bank PlansGet all the business banking essentials you need in one simple, straightforward Plan.Available in Canadian dollars only. One account per Plan.Monthly FeeElectronic/ATM transactions14Assisted transactions16Items Deposited17Cash Deposited17Minimum balance to waive plan fee18Transfers between your accountsMoneris debits and credits19Account balance and history inquiries at a BMO ATM or throughBMO Telephone, BMO Mobile and BMO Online Banking.Additional features includedBMO Debit Card for BusinessSending money with Interac e-Transfer20,67Monthly eStatements with cheque imagesAccess to BMO Online Banking for Business withDigital Smart Pack including: Account Information,Alert, Bill Payment, and Cheque Image services21Excess per item feesElectronic transactions over the Plan limit22Cheques debited over the Plan limit23Assisted transactions over the Plan limit23Deposit contents Notes (currency) deposited per 1,000 24 Coin deposited per 10025 Items deposited e.g. chequeMonthly paper statementeBusinessPlan 0Unlimited1500 0UnlimitedUnlimitedBusiness BusinessStartBuilder 1 6 22.50BusinessBuilder 2 45BusinessBuilder 3 80BusinessBuilder 4 120735701201600 0N/AUnlimitedUnlimited25 2,500N/AUnlimitedUnlimited45 4,000N/AUnlimitedUnlimited65 8,000 35,000UnlimitedUnlimited90 12,000 80,000UnlimitedUnlimitedUnlimited Unlimited Unlimited Unlimited UnlimitedUnlimitedP2PP2PP2PP2PP2PP2P--PPPPN/A 1.25 3.50 0.60 1.25 1.25 0.60 1.25 1.25 0.60 1.25 1.25 0.60 1.25 1.25 0.60 1.25 1.25 2.25 2.25 0.20 4.00 2.25 2.25 0.20 4.00 2.25 2.25 0.20 4.00 2.25 2.25 0.20 4.00 2.25 2.25 0.20 4.00 2.25 2.25 0.20 4.00The monthly Business Bank Plan transaction limit includes cheques negotiated and other debit or credit transactions to the account including deposits, withdrawals, electronic credits and debits, billpayments or BMO Debit Card for Business purchases and refunds, and excludes client-initiated transfers between Business Bank Accounts and cheques deposited through Mobile Cheque Deposit. Chequesdebited and transactions completed in branch or with an associate at the Customer Contact Centre count towards the monthly transaction limit first. Client-initiated transfers between Business Bank Accounts,account transaction histories completed through BMO Online Banking for Business, BMO Online Banking, BMO Mobile or BMO Tablet Banking and cheques deposited through Mobile Cheque Deposit do notcount towards the monthly transaction limit. Assisted service bill payments are not part of transactions limits and are charged separately. Deposit transactions are subject to deposit contents fee.15Deposit content fees apply.16Assisted transactions refer to those completed at a BMO branch or with the assistance of a Customer Contact Centre associate.17Standard deposit contents fees are waived on each month’s deposits up to these limits.18The monthly Business Bank Plan fee can be eliminated by maintaining the minimum monthly balance at all times in a Business Account. Clients are responsible for all other fees relating to any transactions,services and products not included in the Business Banking Plan. The minimum balance waiver is only eligible for clients with the Business Builder 3 and 4 Business Banking Plans.19Moneris payment processing fees still apply. Applies to all deposits posted by Moneris to your BMO business account in connection with your acceptance of Mastercard, Visa*, Interac, Discover* orUnion Pay* branded cards and American Express ** transactions that are settled by Moneris – including deposit of settlement funds, terminal rental fee, and any other fees. American Express credit cardtransactions that are not settled through Moneris are not included in unlimited Moneris transactions, and are subject to separate terms and conditions. Standard transaction fees apply. Refer to MonerisSolutions for complete details. All other debit or credit transactions posted to your BMO account related to any other brand of card processed using Moneris services, are not included and may be subject totransaction limits associated with your Plan and/or excess per-item transaction fees. (* Visa, Discover, and Union Pay are trademarks of their respective owners.)20Includes fulfilling e-Transfer requests.21Access to BMO Online Banking for Business is subject to individual agreements and applicable fees. Fees subject to change. Savings illustrated are as of the time of publication of the Better Banking Guide for Business.22Electronic transactions exclude transactions completed at a BMO branch or with the assistance of a Customer Contact Centre associate, Interac e-Transfers (beyond plan limits) and cheques debited on the account.23Cheques drawn on the account and assisted transactions count towards the Plan transaction limit first and then electronic banking transactions.24Rounded up to the nearest 1,000.25Rounded up to the nearest 100. U.S. coins are not accepted.67Interac e-Transfer service may be restricted based on BMO Debit Card for Business privileges. Interac e-Transfers can only be sent and received from and to a Canadian dollar account, excluding AgriInvestand Business Premium Rate Savings Accounts. The 1.50 per-item fee is charged after the first two Interac e-Transfers sent each month in all BMO Business Bank Plans. Sending and receiving Interace-Transfers count as electronic transactions. The Interac e-Transfer fee is non-refundable. Includes fulfilling e-Transfer requests.148Business Banking

BMO Business Current AccountAvailable in Canadian and U.S. dollars, suitable for businesses that prefer a pay-as-you go option.ServiceFee per transactionC AccountUS Account26Monthly Account Administration Fee 6.00 6.00Client initiated transfersPPReturn or reversal of a BMO Debit Card for Business purchaseP-Monthly eStatement with cheque imagesFREEFREEDeposits Branch ATM Point of sale Direct deposit (pre-authorized credit) 1.25 1.25 1.25 1.25 1.25 1.25Deposit contents Notes (currency) deposited per 1,00027 Coin deposited per 10028 Items deposited e.g. cheque29 2.25 2.25 0.20 2.25 2.25 0.20Account debits Cheque Pre-Authorized Debit Purchase using your BMO Debit Card for Business Withdrawal at an ATM Withdrawal at a BMO branch Bill payment 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 4.00 4.00 5.00 5.00Monthly Paper Statement Fee with Cheque ImagesAdditional fee if statement produced more frequently than account standard30Note: Fees are calculated according to the services usage and charged on the last business day of the month. For additional fees not listed, refer to the Sundry Fee list. Fees are payable in the currencyof the account.26Not all transactions are applicable on all accounts. Where a dash (-) is presented, Bank of Montreal may accept the transaction for processing. The service charge applied to the transaction will be based onthe branch deposit or branch withdrawal/cheque fee.27Rounded up to the nearest 1,000.28Rounded up to the nearest 100. U.S. coins are not accepted.29Value for U.S. dollar items deposited to U.S. dollar accounts will be delayed from one to three business days to allow for clearing and international settlement.30Fee is charged per statement cycle.Better Banking Guide9

BMO Business Premium Rate Savings AccountA convenient self-serve savings solution that earns interest without locking in your funds.Available in Canadian or U.S. dollars.ServiceFee per transactionC AccountUS Account31Client initiated transfersPPMonthly eStatementFREEFREEReturn or reversal of a BMO Debit Card for Business purchase--Deposits Branch ATM Point of sale Direct deposit (pre-authorized credit) 1.25 1.25 1.25 1.25 1.25Deposit contents Notes (currency) deposited per 1,00032 Coin deposited per 10033 Items deposited e.g. cheque34 2.25 2.25 0.20 2.25 2.25 0.20Account debits Cheque Pre-Authorized Debit Purchase using your BMO Debit Card for Business Withdrawal at an ATM Withdrawal at a BMO branch Bill payment 5.00 5.00 5.00 5.00 5.00 4.00 4.00Additional fee if statement produced more frequently than account standard 5.00 5.00Interest paid monthly36Daily closing balanceDaily closingcollected balanceMonthly Paper Statement35Not all transactions are applicable on all accounts. Where a dash ( - ) is presented, Bank of Montreal may accept the transaction for processing. The service charge applied to the transaction will be based onthe branch deposit or branch withdrawal/cheque fee.Rounded up to the nearest 1,000.00.33Rounded up to the nearest 100.00. U.S. coins are not accepted.34Value for U.S. dollar items deposited to U.S. dollar accounts will be delayed from one to three business days to allow for clearing and international settlement.35Fee is charged per statement cycle. 36 Interest is calculated on the daily closing balance (Canadian dollar accounts) or daily closing collected balance (U.S. dollar accounts) and paid monthly. Interest ratesand balance tiers are subject to change without notice. Current interest rates are available at BMO branches where accounts are services, online at bmo.com/rates or by calling 1-877-262-5907.313210Business Banking

BMO AgriInvest AccountA no-monthly account administration fee, interest bearing savings account offered to agricultural producers.Available in Canadian dollars.ServicesNumber of transactions included per month37UnlimitedBMO Debit Card for BusinessPAccess to BMO Online, BMO Tablet and BMO Telephone Banking38PUnlimited account balance and transaction inquires when accessed using yourBMO Debit Card for Business card39PClient initiated transfersPMonthly eStatementFREEMonthly Paper Statement 4.00Interest paid monthly36Daily closing balanceBMO Community AccountA low-cost Canadian dollar account offered exclusively to locally based non-profit organizations.ServicesMonthly Account Administration Fee 2.50Minimum monthly balance required to waive the Monthly Account Administration Fee40 5,000Services includedNumber of transactions included per month, up to five in-branch deposits41Deposit contents Notes deposited42 Coin deposited43 Items deposited20Personal size cheques (100) 2,500 25025PAround-the-clock Depository for duration of special eventsPBMO Debit Card for BusinessPInterest is calculated on the daily closing balance (Canadian dollar accounts) or daily closing collected balance (U.S. dollar accounts) and paid monthly. Interest rates and balance tiers are subject to changewithout notice. Current interest rates are available at BMO branches where accounts are services, online at bmo.com/rates or by calling 1-877-262-5907.37Transactions include debit or credit transactions to the account including deposits, withdrawals, Pre-Authorized Debits and credits, bill payment debits, or BMO Debit Card for Business purchases andrefunds; and excludes customer initiated transfers to and from an Agrilnvest Account and cheques deposited through Mobile Cheque Deposit. The account should not be used for everyday banking, but for thesole purpose to receive matched funding from the government.38The monthly access fee is waived. Transaction fees may apply.39Use your BMO Debit Card for Business card to access your account balance and account transaction history free of charge through BMO Online, BMO Mobile, BMO Tablet , BMO Telephone Banking and BMO ATM.40The minimum monthly balance must be maintained at all times throughout the calendar month to qualify for the Monthly Account Administration Fee Waiver.41Transactions include debit or credit transactions to the account including deposits, withdrawals, Pre-Authorized Debits and credits, bill payment debits, or BMO Debit Card for Business purchases andrefunds; and excludes client initiated transfers to and from a Community Account and cheques deposited through Mobile Cheque Deposit. Assisted service bill payments are not part of transactions limits andare charged separately. Deposit transactions are subject to deposit contents fee.42Rounded up to the nearest 1,000.00.43Rounded up to the nearest 100.00. U.S. coins are not accepted.36Better Banking Guide11

continued from pg.11Services includedAccess to BMO Online, BMO Mobile, BMO Tablet and BMO Telephone Banking44PClient initiated transfersPMonthly eStatementFREEExcess per item feesDeposits Branch ATM Point of sale Direct deposit (pre-authorized credit) 1.25 1.25 1.25 1.25Deposit contents Notes (currency) deposited per 1,00045 Coin deposited per 10046 Items deposited e.g. cheque34 2.25 2.25 0.20Account debits Cheque Pre-Authorized Debit Purchase using your BMO Debit Card for Business Withdrawal at an ATM Withdrawal at a BMO branch Bill payment 1.25 1.25 1.25 1.25 1.25 1.25Monthly Paper Statement 4.00Additional fee if statement produced more frequently than account standard47 5.00Value for U.S. dollar items deposited to U.S. dollar accounts will be delayed from one to three business days to allow for clearing and international settlement.The monthly access fee is waived. Transaction fees may apply.Rounded up to the nearest 1,000.00.Rounded up to the nearest 100.00. U.S. coins are not accepted.47Fee is charged per statement cycle.3444454612Business Banking

Sundry FeesThe following fees may be in addition to any other account transaction or monthly BMO Business Bank Plan fees.Some of these fees may be covered by one of our BMO Business Bank Plans. Refer to BMO Business Bank Plans forservices that may be covered in the various Bank Plans. Service charges and fees listed below collected from a U.S.dollar account are charged in U.S. dollars.Account Reporting & Administration ServicesFees per itemAccount closed within 90 days of opening: 20.00Account information service inquiry by telephone or in-branch including balance/history,chargeback information, details/information by mail/telephone/wire transfer, depositdescription, interim and supplicate statement: 5.00Credit reports:48For each request to provide credit information requested from another financial institution on ourclient or from our client to obtain credit information on a client of another financial institution. Outgoing request (to another financial institution): Incoming request (from another financial institution): Verbal: Outside Canada (incoming or outgoing requests): 24.00 18.00 18.00 31.00Bank Confirmation (audit certificates):Fee is based on the amount and complexity of information requested. First section: Second section: Third section: Minimum fee per confirmation:Fees in addition to the Bank Confirmation fees: Listing of officers: No return envelope provided:4849 25.00 30.00 35.00 25.00 7.00 2.50Certificate of account balance, loan, or interest: Letter by Bank or pre-printed form: 10.00Credit or debit memo (For internal bank purposes only): For each credit or debit entry processed, including mail notification if required: 2.00Dormant account notice:49To send a notice that your account has been inactive: for two years: for five years: for 10 years (transfer to Bank of Canada): 20.00 30.00 40.00Faxing information outbound, per page fee: 2.00Where applicable, QST, GST, or HST is extra. Bank of Montreal QST Number: 1000042494 and GST/HST Number: R100390095.Fee is waived if acknowledged within 60 days.Better Banking Guide13

continued from pg.13Account Reporting & Administration ServicesFees per itemSearches and/or copies of account items:(e.g. statements, vouchers, cheque tracing, transaction receipts, and cheque images) 5.00Standing order – setup or amendFor each request to set up or amend instructions for regular payments/transfers from orbetween accounts, at a specific time, under written client instructions:50 4.50Overdraft Protection ServicesFees per itemSmall Business Overdraft Protection (less than 2,500)51Fixed monthly fee:52Pay-per-use:52,53,54 4.00 5.00Overdraft per-item charge:52,53,55 5.00Overdraft transfer service:53,56 5.00Business cheque servicesFees per itemCheque handlingCertified cheques: requested by issuer: requested by non-issuer: 20.00 30.00Customized cheques:57VariousDeposited items returned unpaid to account (chargeback):58 7.00Foreign currency items: Cheque written on Canadian dollar account: Cheque, money order or draft negotiated: 20.00 5.00Items sent on collection:59 Cheques up to 250.00: Cheques over 250.00:– Minimum charge:– Maximum charge: 15.000.125% 25.00 200.00Non-sufficient funds (NSF): Items drawn on your account and returned for NSF:60 48.00This fee is in addition to any applicable transaction fees.Overdraft limits range from 500.00 to 2,499.99 and subject to meeting BMO’s credit qualifications.Interest is calculated on the daily overdraft balance at prevailing overdraft interest rates and charges to the account on the last business day of each month. Current interest rates are available at BMObranches and by calling 1-877-262-5907.53There are no daily or monthly transaction limit fee limits.54A 5.00 per-item fee will be charged for each debit transaction that creates or increases the overdraft up to the approved credit limit.55Unless there is a pre-established authorized borrowing arrangement with BMO, there are no rights to overdraw an account. If we allow the item to be paid and an overdraft is incurred, an overdraft per-itemcharge (OPIC) will apply and interest

May 01, 2021 · Business Banking Plans, service charges, and fees 17 Bank the way you want to bank with BMO 18 BMO Debit Card for Business Card Solutions 19 BMO Online Banking 19 BMO Mobile and Tablet Banking 19 BMO ATMs 20 BMO Telephone Banking 20 BMO Online Banking for Business 20