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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Managing Receivables

Turning sales into cash keeps your business afloat. Learn about the products and services that can help speed the payment of receivables into cash in your account.

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


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

1Certain conditions apply.
All other marks or registered trade-marks are the property of their respective owners.
®‡Registered trade-mark of Moneris Solutions Corporation. Bank of Montreal is an authorized user of the trade-mark.
®†Registered trade-mark of Visa Canada Inc. Moneris is a licensed user.
®*Registered trade-mark of MasterCard International Incorporated.
®#Used with permission by Amex Bank of Canada under license from American Express.
®**Interac is a trade-mark of Interac Inc.
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