BMO Digital Business Checking vs Bank of America Business Advantage: which one fits your business?
Side-by-side comparison of BMO Digital Business Checking and Bank of America Business Advantage — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: it's a tie on our scorecard — pick on fit, not score.
| Scored on | BMO Digital Business Checking | Bank of America Business Advantage |
|---|---|---|
| Right fit for small biz | 8 | 8 |
| Ease of use | 6 | 7 |
| Fees & pricing | 9 | 7 |
| Customer support | 6 | 6 |
| Features | 7 | 8 |
| Monthly Maintenance Fee | $0 | — |
| Minimum Opening Deposit | $100 | — |
| Free Transactions (Monthly) | 200 | — |
| Domestic Outgoing Wire | Approx. $30 | — |
| Cash Deposit Limit (Free) | Up to $3,000 (varies by region) | — |
| Monthly fee (Fundamentals) | — | $16 (waivable) |
| Monthly fee (Relationship) | — | $29.95 (waivable) |
| ACH Transfers | — | $0 |
| Cash Deposit Limit | — | Up to $20,000 free |
| Domestic Wire (Incoming) | — | $0 - $15 |
BMO Digital Business Checking in one paragraph
A reliable, $0-per-month 'real bank' account that is perfect for low-volume service businesses located near a physical branch.
Skip it if: Skip it if you operate a high-volume retail business with over $3,000 in monthly cash deposits or live in a state with no BMO branches.
Bank of America Business Advantage in one paragraph
A powerhouse for businesses with $20k+ in cash who can leverage the credit card rewards stack, but a fee-heavy burden for micro-entities.
Skip it if: You cannot consistently maintain at least a $5,000 average daily balance.
Frequently asked questions
Who should skip BMO Digital Business Checking?
Skip it if you operate a high-volume retail business with over $3,000 in monthly cash deposits or live in a state with no BMO branches.
Who should skip Bank of America Business Advantage?
You cannot consistently maintain at least a $5,000 average daily balance.