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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Deposit cheques on your terms

Imagine depositing cheques online 24/71, from your office or from wherever it’s convenient for your business. Imagine making deposits more quickly and improving your cash flow. And, just imagine the time and money you’ll save by not having to make trips to the bank.

It’s all possible, with BMO DepositEdge – the seamless and secure cheque scanning solution for business.

See how BMO DepositEdge can work for your business. Watch the video!

See what one of our customers has to say about BMO DepositEdge:

"The process of manually depositing cheques was costly, tedious, and not an efficient use of our resources…with BMO DepositEdge, our employees process cheques on their own schedules – not the banks’ – in a fraction of the time it used to take."

"This has not only generated significant savings for our business, but has allowed our employees to dedicate their time to our number one priority, serving customers." (Deb Messinger, Controller at VitaPlus)

Whether your business has a number of locations in Canada and the US, or a single office – whether you process just a few cheques a month or a few thousand - our team of experienced specialists will help you:

  1. Select the right scanner model - (low, medium or high cheque volume)
  2. Configure the system to fit your unique business needs
  3. Provide ongoing support

BMO Financial Group has been providing online cheque scanning solutions for business to U.S. clients since 20052. We have the expertise and experience to deliver this solution to your business and to ensure that you take advantage of its many features and benefits.

Speak to a BMO Representative today about how we can help you accelerate your cash flow with BMO DepositEdge – the seamless and secure cheque solution for business.

Around-the Clock-Depository (ATCD)

If you often receive payments after banking hours and are concerned about keeping cash on your premises, ATCD is the ideal solution. You can make deposits 24 hours a day, 7 days a week to a BMO Bank of Montreal® controlled access depository.

Convenient, secure features:

  • Eliminates risk of cash theft held overnight on your premises
  • Allows for quick, convenient after-hours deposits for next day value
  • Offers two deposit options:
    1. Reusable locked wallet; or
    2. Disposable UNISTOP® deposit bag

FirstBank® Cash Concentrator Service (FCCS)

If your business has multiple outlets, you can save time and streamline your cash management by concentrating funds into one business account using FirstBank Cash Concentrator Service.

How it works for you:

  • Your multiple outlets make deposits at pre-arranged BMO Bank of Montreal® branches and the funds are automatically concentrated into your designated business account
  • Improve record-keeping with comprehensive reports that detail the outlet identification number, deposit amount and date, branch number and more
  • Save time by having only one account to reconcile

Wholesale Lockbox

A wholesale lockbox is an efficient tool for turning customer payments made by cheque into usable funds. Your customers mail their cheques to strategically located post office boxes across Canada. We collect and process the cheques, then deposit the funds directly to your designated business account on the same business day allowing you faster access to your cash. Cheques received after hours will be deposited to your account on the next business day.

Convenient features that work for you:

  • Payment details are available electronically or by fax
  • Receive same-day credit for invoice payments picked up the morning of each business day
  • Save time and trim in-house administration costs

Electronic Funds Transfer (EFT)

Electronic Funds Transfer (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 Online Banking for Business, our web-based cash-management platform.

Flexible features to save you time and money:

  • A faster, easier, more reliable alternative to paper-based bill collection
  • Control the timing, verification and tracking of payments online
  • Immediately see every EFT transaction, recall items and make corrections
  • Reduce cost of postage and return envelopes

Wire Payments

If you regularly receive wire payments from around the world, our wire payment solution can help get you your money faster, along with detailed reports to help you better track your receivables.

Convenient, flexible features:

  • Receive payments from anywhere in the world and obtain immediate credit to your account
  • Track receivables using online reports (through the secure Online Banking for Business platform) that provide detailed payment and reference information
  • Delivers fast turnaround and early payment notification

DrawCheque

If you have several business locations and need an easy, cost-effective way to consolidate deposits from different financial institutions into your BMO® account, this convenient deposit management and transfer service could be the answer.

Convenient, secure features:

  • Transfer funds from other Canadian financial institutions into your BMO account, or manage multiple business accounts, online or by phone.
  • Get fast access to your funds with same-day value on transfers placed before 7 p.m. ET
  • Access detailed reports to help you track and manage cash flow

Moneris®‡ Payment processing made easy

Give your customers more payment options with this limited time offer from Moneris.

Convenient, secure features:

  • Encourage sales growth by giving your customers as many payment options as possible. With Moneris Solutions®‡ payment processing services, you can accept MasterCard®*, Visa®†, Amex®# and INTERAC®** payments – in-store, wireless and online. All funds deposited into a BMO Bank of Montreal® account by the next business day1
  • Competitive rates and reliable around-the-clock, year-round service and support
  • Limited time offer – receive a $350 gift card1.
  • Speak to your BMO representative or call 1-877-448-6357 by August 31st, 2013

Learn more

1Subject to interruptions in telecommunications or online systems or in power supply or any other factor or event beyond the control of Bank of Montreal. 2 Solutions in the U.S. are provided by BMO Harris Bank N.A. and its predecessors. Banking, deposit and loan products and services provided by BMO Harris Bank N.A. are subject to bank and credit approval. Member FDIC. BMO Harris Bank is a trade name used by BMO Harris Bank N.A. ®/TM Trade-marks of Bank of Montreal.

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