To take advantage of business opportunities at home or abroad, you need a streamlined collections process. The right receivables solutions will help you reduce costs and errors associated with paper-based receivables; minimize mail and information float; offer payment options to customers, suppliers or trading partners; and automate collection of electronic payments. In short, you’ll put your funds to work sooner.

• Wholesale Lockbox
  Wholesale lockbox is an efficient tool for turning receivables paid by cheque into usable funds. Your clients and vendors mail their cheques to strategically located post office boxes across Canada. We collect and process the cheques, then deposit the funds directly to your corporate account – on the same day the cheques are received.
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• Imaging Solutions
  
  
  • Wholesale Lockbox Imaging
    Our wholesale lockbox imaging solution provides you with online access to images of your B2B remittances on the same day they are processed. You can easily sort your remittance information according to the criteria that make sense for your business, allowing you to make informed credit decisions based on the most current information and quickly respond to customer inquiries. Images are accessible online via DirectLine®, our web-based treasury management portal, through bulk image delivery or on CD-ROM.
  
  
  
  • Bulk Image Delivery
    Bulk image delivery is an automatic, system-to-system image transmission solution for businesses that receive a high volume of cheques and remittance documents, or who require next-day access to a low volume of printable images. Using the file communication method you prefer, we send you a secure electronic file containing images of all remittance items processed on a daily basis. For added end-to-end internet security, Pretty Good Privacy (PGP) file encryption is also available.
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• Electronic Funds Transfers
  EFT can streamline collection processes and eliminate the costs associated with processing customer cheques. With EFT, you can debit Canadian and U.S.-dollar accounts at any financial institution in Canada via DirectLine®, our web-based treasury management portal. Through DirectLine you can immediately see every EFT transaction, recall items or files, and make corrections.



• Electronic Data Interchange
  EDI is a secure receivables solution that can streamline your procurement process, improve trading relationships, and reduce the cost, time and errors associated with manually processing receivables. With EDI, you receive business payments and remittance information (invoice numbers, purchase order numbers, invoice amounts, discounts and adjustments) electronically. By eliminating paper items, EDI also reduces the potential for lost, altered or stolen cheques.
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• Wire Payments
  Our inbound wire payment solution allows you to receive payments from anywhere in the world and obtain immediate credit to your account. You also have the option to receive detailed reports online through our DirectLine portal, via SWIFT or by fax. These reports include all of the payment details and reference information you need to accurately track your receivables.



• Telephone Bill Payments
  Register as a BMO biller and provide your customers with a convenient alternative to cheques. With telephone bill payments, your customers make bill payments to you by phone, as well as through online banking, ATM or branch. Funds are credited to your account on a same-day basis for payments made by 8:00 PM ET and are fully guaranteed, as payment is only accepted if your customers have sufficient funds available. Manual processing is reduced, funds are available faster and reporting is easy and efficient.
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• Concentrate Funds
  
  
  • Between BMO Accounts
    Centralize funds from multiple depository sites, giving you immediate access to your cash. Your outlets make deposits in Canadian or U.S. funds at any BMO branch in Canada, and the funds are credited to your central deposit bank account. Monitor daily deposits with detailed online reports or via fax the next business day.
  
  
  
  • Between Financial Institutions
    Our DrawCheque service enables you to consolidate deposits made at other Canadian financial institutions into your central BMO account, either online or by phone. The service improves cash flow by transferring funds at your convenience, giving you same-day value on transfers placed before 7:00 PM ET.
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