Startup Banking Deals and Promotions in Montreal

Canadian banks actively court startups with special programs, fee waivers, and partnership perks. Here's a roundup of current deals and how to access them.

Partner Program with Startup Orgs

National Bank partners with several Montreal ecosystem organizations:

• District 3: Exclusive banking perks for startups
• Centech: Special account packages
• FounderFuel alumni: Referral bonuses

Current Offer

• Free business account for 2 years
• Cash bonus: Up to $500 when opening account through partner
• Dedicated startup advisor: Specialized support
• Line of credit: Preferential rates for qualifying startups

How to Access

1. Get referral through accelerator or partner organization
2. Contact National Bank's startup team directly
3. Mention partner program when opening account

Ownr Partnership

• Discounted incorporation through Ownr platform
• Free first year of business banking
• Integrated accounting tools

RBC Ampli Program

• Cash back rewards optimized for startups
• No monthly fees for qualifying businesses
• Integration with accounting software

Tech Company Package

• $0 monthly fees for first year
• Free Interac e-Transfers
• Startup advisory services

TD for Business Basics

• $0 monthly fee (with conditions)
• Online banking included
• Cross-border banking options

Partnerships

• Various accelerator partnerships
• Venture capital fund introductions
• Legal network access

BMO Smart Business Account

• No monthly fees
• Free transactions up to a limit
• BMO CashBack card options

Innovation Banking

• Dedicated tech banking team
• Venture debt options
• Scale-up financing

Advantages

• Strong Quebec presence and understanding
• Cooperative values alignment
• French-language support

Startup Offers

• Business account with fee waivers
• Member dividends
• Local branch support

Relay

• No-fee business banking
• Built for startups
• Easy integration with accounting tools
• USD and CAD accounts

Float

• Corporate credit cards
• Expense management
• Higher limits for startups
• Integrations with QuickBooks

Wise Business

• Multi-currency accounts
• Low-cost international transfers
• No monthly fees
• Real exchange rates

Stack Benefits

1. Join an accelerator with bank partnerships
2. Use referral codes from other founders
3. Negotiate based on fundraising status
4. Time account opening with bank promotions

What to Ask For

• Fee waivers (at least first year)
• Cash bonuses
• Credit card limits
• Line of credit options
• Foreign exchange rates
• Wire transfer fees

Red Flags to Avoid

• Long lock-in periods
• Hidden fees after promotional period
• Minimum balance requirements
• Limited transaction counts

Bank	Monthly Fee	Cash Bonus	Best For
National Bank	$0 (2 yrs)	Up to $500	Partner referrals
RBC	$0 (1 yr)	Varies	Ownr users
TD	$0 (conditional)	-	Cross-border
BMO	$0 (basic)	-	Larger startups
Desjardins	$0 (promo)	Member dividends	Quebec focus
Relay	$0	-	Pure digital

From a FinTech Founder

"Open multiple accounts. Use a big bank for credit products and a fintech for daily operations. Best of both worlds."

From a Hardware Startup

"National Bank's startup program was great early on. The dedicated advisor actually understood our burn rate concerns."

From a SaaS Founder

"Don't overlook Desjardins. Their rates for USD conversion were better than everyone else when we started billing US customers."

Last updated: January 2025

• National Bank: $500 bonus through FounderFuel referral
• RBC: 50% off Ownr incorporation + free banking
• BMO: $400 Welcome Bonus for new business accounts
• Desjardins: Double member dividends for new businesses

Promotions change frequently. Contact banks directly for current offers.

1. Check partner eligibility: Are you part of an accelerator or organization with bank partnerships?
2. Compare offers: Use the table above as a starting point
3. Open strategically: Time with promotions and your cash needs
4. Negotiate: Banks want startup customers - ask for better terms