Topic
Banking
Business chequing accounts compared for Canadian small businesses: monthly fees, included transactions, Interac e-Transfer costs, and USD options.
1 article
How to choose
We compare the entry-level digital business chequing plans from TD, RBC, BMO, Desjardins, and National Bank. This topic covers everyday business accounts only, not credit cards, loans, or savings products.
Monthly fees sit in a narrow band, from $5 for BMO Essential to $7 for National Bank's Digital package (September 2026), so the deciding factors are usually Interac e-Transfers and cash. TD Business Digital and RBC Digital Choice each cost $6 with 10 outgoing e-Transfers, then $1.50 for each extra one. Desjardins counts e-Transfers as included digital transactions. Cash deposits cost extra on the entry plans at TD and BMO. Also check where your card processor deposits fastest: Moneris offers next-day deposits to merchants who bank with BMO or RBC.
Start here
- Best business bank accounts in Canada
Five plans compared on fees, e-Transfers, and cash deposits.
- Moneris review
Next-day deposits with BMO and RBC, and the contract terms.
Our top picks
Prices checked September 2026
- 1
Most small businesses outside Quebec
TD Business Digital Account
4.0/5CAD $6/mo
- 2
Quebec businesses, heavy e-Transfer use
Desjardins Digital Plan
4.0/5CAD $5.95/mo
- 3
Single-owner businesses using Moneris
RBC Digital Choice Business Account
4.0/5CAD $6/mo
- 4
Lowest monthly fee, few e-Transfers
BMO Essential Plan
3.5/5CAD $5/mo
- 5
Quebec businesses wanting a bank
National Bank Digital Package
3.5/5CAD $7/mo
From
Best Business Bank Accounts in Canada (2026)
The full review explains who each pick is for, what it costs in the currency the vendor bills in, and the tradeoffs.
Read the full review