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Receivables Management

BMO Harris Bank understands that making your processes more efficient helps every aspect of your business. Our team works with you to streamline receivables management by reducing the cost and errors associated with paper-based receivables; minimizing mail and information float; offering payment options to customers, suppliers, and trading partners; automating the collection of electronic payments; and providing custom reporting using multiple sources. In short, you'll put your funds to work sooner, and by being more efficient, you'll be able to focus on your core business operations.

Whether you're a small business with basic requirements or a large organization with complex transactions, our experienced staff will work with you to develop the solution that best fits your business needs.

BMO Harris Bank offers a full suite of solutions for managing your receivables, including:

Depositing Payments

  • Retail Lockbox - Collect high-volume remittances from customers, expediting access to your funds
  • Wholesale Lockbox - Turn business-to-business remittances into usable funds (with collection sites in Los Angeles, Dallas, Atlanta, Newark, and Chicago)
  • Automated Clearing House (ACH) - Streamline collection processes from customers and eliminate the costs associated with manual check processing
  • Electronic Data Interchange (EDI) - Collect payments from business customers or trading partners
  • Wire Payments - Collect high-value and time-sensitive payments safely and securely
  • Remote Deposit - Deposit checks from your office for quick access to funds
  • Convenience Pay - Offer your customers alternatives to paper payments
  • Merchant Card Processing - Process credit and debit transactions quickly and securely

Receivables Reporting

  • Online Imaging - Make faster credit decisions and deal with exception items, payment inquiries, and disputes more quickly
  • Customized Reporting - We can create a variety of file formats to integrate with your receivables application
  • Consolidated Reporting - We can merge your lockbox receipts with EDI, ACH, and wire payments to provide a single view of your remittance activity
  • Return Check Images - View images and information for NSF return checks online, enabling more timely collections management


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