BMO Digital Business Checking vs Grasshopper Bank: which one fits your business?
Side-by-side comparison of BMO Digital Business Checking and Grasshopper Bank — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Grasshopper Bank wins on our scorecard (8.1/10 vs 7.3/10).
| Scored on | BMO Digital Business Checking | Grasshopper Bank |
|---|---|---|
| Right fit for small biz | 8 | 8 |
| Ease of use | 6 | 8 |
| Fees & pricing | 9 | 9 |
| Customer support | 6 | 7 |
| Features | 7 | 8 |
| Monthly Maintenance Fee | $0 | $0 |
| Minimum Opening Deposit | $100 | $0 |
| Free Transactions (Monthly) | 200 | — |
| Domestic Outgoing Wire | Approx. $30 | — |
| Cash Deposit Limit (Free) | Up to $3,000 (varies by region) | — |
| Domestic Incoming Wires | — | $0 |
| Domestic Outgoing Wires | — | $0 - $25 (varies by tier) |
| ACH Transfers | — | $0 |
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.
Grasshopper Bank in one paragraph
Grasshopper is a top-tier digital bank for professional service firms and startups that want to earn 'savings-account' interest on their 'checking-account' operational cash.
Skip it if: Skip it if you are a retail business that needs to deposit physical cash at the end of every shift.
Frequently asked questions
Which is better, BMO Digital Business Checking or Grasshopper Bank?
On our five-axis scorecard, Grasshopper Bank scores higher (8.1/10 vs 7.3/10). Grasshopper is a top-tier digital bank for professional service firms and startups that want to earn 'savings-account' interest on their 'checking-account' operational cash.
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 Grasshopper Bank?
Skip it if you are a retail business that needs to deposit physical cash at the end of every shift.