Entrepreneurship & Small Business

BMO eBusiness Plan vs RBC Small Business eAccount

  • Last Updated:
  • Jun 5th, 2019 11:59 am
[OP]
Jr. Member
Mar 6, 2010
160 posts
39 upvotes
Brampton

BMO eBusiness Plan vs RBC Small Business eAccount

Both seem quite similar. And it looks like ordering 50 cheques is minimum with either one so cost will be more than $100.
Has anyone tried both and noticed any major differences (such as hassles in opening account, money transfer delays or restrictions) or cons or pros of either?
6 replies
Deal Addict
Jul 3, 2017
3860 posts
2763 upvotes
All the big bank business accounts are terrible, with high fees and poor services. But it's hard to switch once you've built up a banking history, which is what they rely on. If you're just starting out, do yourself a favour and look around for alternatives. There are also lots of third-party service providers that are more efficient and more cost-effective for specific services than the banks. Cheque printing is one case in point.
Newbie
Mar 13, 2015
23 posts
12 upvotes
Stratford, PE
Small corp here, we were customers with BMO 2007-2018 for the corp, began moving everything away once I figured out that for the same $50 a month we would be able to use RBC and pay our people direct deposit, direct deposit with BMO isnt possible and is a total ripoff... cancelled it after two months. With RBC you can transfer funds to vendors and employees directly with their bank accountinfo, BMO might know what that is in five years? Another issue was the lack of mobile deposits for cheques, not possible for business banking... we use the saved money with our new plan at RBC to buy a better timeclock app... Always used a spot like asap cheques for cheaper cheques. There's been no benefit in being loyal to BMO, RBC offered better pricing. We wouldhappily jump ship again
Banned
Nov 29, 2018
1 posts
And you never thought to try to use something new in management and planning. We, for example, switched to , and are completely satisfied with the results for 2 months, a very simple interface and multi-functional management.
Newbie
Jul 15, 2018
19 posts
22 upvotes
Right now, RBC no longer offer eAccount for the customer.
BMO is the only one offer no fee business account?
Jr. Member
User avatar
Jan 7, 2019
141 posts
86 upvotes
Probably won't be long before BMO starts charging. All the banks move in the same direction sooner or later.

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