Question 1

How is BMO Bill Connect different from BMO Digital Banking?

Accepted Answer

BMO Bill Connect offers a more robust solution tailored to businesses whereas BMO Digital Banking Bill Pay is designed for personal bill payments. BMO Bill Connect is an end-to-end account payable and accounts receivable platform that:

Helps you efficiently pays bills, invoice customers, and receive payments
Provides audit trails of bill approvals and payment activities
Eliminates the majority of paper associated with both Accounts Payable and Accounts Receivable with online document storage
Assigns user-specific roles and permissions and routes bills, giving you full control and visibility over the end-to-end process
Shows a centralized view of all your payments, anywhere, anytime – online or mobile
Syncs with leading accounting software – Quickbooks and Xero - so you minimize double data entry and errors
Reduces time spent on tracking, collecting and compiling information through effective reporting

Question 2

How is BMO Bill Connect different from my accounting software?

Accepted Answer

BMO Bill Connect is not an accounting software and it picks up where your current account software leaves off. It’s an end-to-end accounts payable and accounts receivables solution. It streamlines your accounts payable process, enables electronic payments, and improves your accounts receivable process by enabling tracking of invoices and payments and accepting payments through domestic ACH or card (when applicable).

Question 3

Is it easy to sync BMO Bill Connect with my existing accounting software?

Accepted Answer

Yes, it is easy to sync with your accounting software. BMO Bill Connect seamlessly integrates with popular accounting software such as Quickbooks and Xero.

For your convenience, your banker can coordinate an appointment with one of our specialists to help you set up BMO Bill Connect and sync your accounting software for the first time. Unlike other solutions that may take days or week to set up, even the most robust integrations can often be handled in a few hours.

Question 4

Is BMO Bill Connect secure and reliable?

Accepted Answer

Your privacy and security are of the utmost importance to us. Your bank account information and that of your vendors and customers are kept private from each other when you make and receive digital payments.
BMO Bill Connect comes with built-in fraud prevention features like Positive Pay. Positive Pay is an automated system to help detect and safeguard against fraudulent checks and ACH transactions. Positive Pay works by comparing the check number, dollar amount, and account number of the check with the list provided by the business.
If they don't match up, the bank processor will refuse to clear the check until it's verified by the issuer. There is no need to enroll separately for Positive Pay, and you can be assured of built-in fraud protection when paying with checks. Data in transit is encrypted using industry-standard Transport Layer Security (TLS).

Question 5

Is BMO Bill Connect hard to set up?

Accepted Answer

Setup is a breeze. We've built in a Startup Checklist that you tick off as you complete each item. Essentially you just need to add other users, assign their roles to set up your approvals workflow, if you desire, and personalize some account details.

Advanced Plan: To set up BMO Bill Connect and sync to your accounting software for the first time, you can make an appointment with one of our specialists.