Wholesale Lockbox
Instructions on Completing the Lockbox Remittance Client Questionnaire
Implementation Forms
P.O. Box Reservation Form
Complete all sections to this document.
Field descriptions below
Name of Client
Enter “BMO” into this section to denote this is a Bank of Montreal client.
Name of Customer
Enter client’s full name.
Implementation Date
Enter date approximately one month from the day this form is sent to Symcor.
Currency (drop down selection)
CDN Denotes a Canadian currency lockbox.
U.S Denotes an American currency lockbox
Please Note: There are 3 Lockbox types:
- CAD$ only = US$ items not processed but returned to customer
- US$ only = CAD$ items not processed but returned to customer
- Combined CAD$ & US$ = ONE Lockbox #, with an account set-up with each currency type to process related items.
Sales MUST complete a separate Wholesale Lockbox- Client Questionnaire form, for each type, when required.
Check off each Location where the Customer will require a Lockbox.
Monthly Cheque Volumes
For each of the above lockbox location enter estimated cheque volumes
Monthly Invoice Volumes
For each lockbox location enter estimated invoice volumes.
Peak Periods
If customer has a peak period of time when volumes will be higher than usual, please enter dates into the field.
Reporting Output
Standard: Deposit Advice Only: Client will only receive a package with advice and remittance information (if requested). Customer must arrange for courier pickup.
Paper Activity Report: Customer can receive an Activity Report with package above. Customer must arrange for courier pickup.
Fax: Customer will receive a daily Fax report of lockbox activity.
Electronic Report: Customer will receive an electronic report via FTF
Electronic File: Customer will receive an electronic file via FTF, ECA, etc.
Reporting Deadline
If Customer requires information at a specific time of the day, please specify here.
Test File Required
Yes: Customer would like a test file sent to them before live date. Electronic File or Report must be checked off.
No: Customer does not require a test file prior to live date.
First Test File Due
If yes above, provide test date approximately 2 weeks prior to live date.
Delivery of Backup Material
Enter how the Customer will receive backup material.
Courier: Customer must arrange a courier service with name of courier and time of day specified.
Postal Service: Customer will receive backup material through regular mail.
Other: If customer has special requirements please specify here.
SYM WLBX Client Questionnaire Form (Completed by Sales)
Field descriptions below
Insert Customer Name
Enter Customer’s full name in field provided.
New Business Request Approved by BMO Product Management
Sales/Requestor MUST obtain approval from Product Management before submitting a service request to CMS Implementation, if the request meets the following criteria:
Monthly cheque volume is greater than 2500 items
Invoice volume is greater than 2 invoices per 1 cheque
Multi site implementation request
Paper or electronic transmissions meeting the above volume and/or number of sites criteria
Non-standard Wholesale Lockbox service is requested
CMS Implementation will verify the tick box is appropriately marked to ensure Product Management approval is in place. If the tick box is not marked, the IS will refer back to the requestor before proceeding with the implementation.
Date
Enter today’s date.
Requested Implementation Date
Enter date approximately 30 days after today’s date.
Test Date
Enter requested date of test if electronic files/reports are required. Should be approximately 2 weeks prior to live day.
Sales Category
New Lockbox
Check box if this is a new lockbox request.
- CAD – Check if Canadian lockbox only ( USD items not processed but returned to customer)
- USD – Check if U.S. lockbox only (CAD items not processed but returned to customer)
- CAD & USD (If both currency boxes checked, only ONE Lockbox number issued. Each item will be processed through the appropriate customer’s currency account.)
Separate “Questionnaire and PO Box forms must be submitted for each lockbox type described above.
Image Service
Check box if new lockbox requires Image Services.
Sales Category - Change
Change to Existing Lockbox
Check box if this is a change to an existing lockbox
CAD – Check if change is to a Canadian lockbox
USD – Check if change is to a U.S. lockbox
CAD & USD – Check both if lockbox change is to both Canadian and US currency.
- Additional Lockbox Site – Select if additional lockbox is required
- Conversion – Select if you are changing this lockbox from a paper output to an electronic output.
- Profile Change – Select if you are changing any information with regards to the profile (i.e. Name change, new payee, etc.).
- Other – If the change request does not fit into the above criteria please select this checkbox.
Image Services
Check if existing lockbox requires Image Services (must fill out last page of questionnaire.)
Delete
CAD – Check if delete is to a Canadian lockbox
USD – Check if delete is to a U.S. lockbox
CAD & USD- Check both if applicable
Customer Information
Fill out with Company’s full name, address and primary and secondary customer contact information
Bank Information
Enter Account Manager or Sales person contact information in the Client Contact (Processing Queries) field.
Lockbox Processing Locations/Monthly Volumes
For each lockbox location you must fill out the information under the five headings below.
Assigned P.O. Box Number
Enter lockbox number provided by Symcor on the P.O. Box Reservation Form.
Average Number of CAD Cheques
Enter the estimated monthly volume of cheques to be deposited at this location.
Average Number of CAD Invoices
Enter the estimated monthly volumes of invoice at this location.
Average Number of USD Cheques
Enter the estimated monthly volume of cheques to be deposited at this location.
Average Number of USD Invoices
Enter the estimated monthly volumes of invoice at this location.
Peak Periods
Define if this client has any peak processing periods (i.e. Month End, or specific time of year)
Image Services
Please enter the average volume of images for each site.
Reporting Time
The standard reporting time is 4:00 p.m. eastern. The client may choose to have an earlier time of reporting, if so, please specify the time.
Reporting Options
Language Required on Reports
Please indicate the reporting language.
Type of Reporting
Customer will receive a Paper Deposit Advice along with a Paper Activity Report, Faxed Activity Report, Electronic Report, or Electronic File. If Electronic File, file layout must be provided.
Paper/Fax Activity Report (as you mentioned below) can include any items that they would like keyed (example: Invoice Amount, Payor, etc.).The Paper Deposit Advice shows the total dollar amount that is deposited to the clients account for the day (Activity Report also shows the total dollar amount). The Paper Deposit Advice does show dollar value of each cheque but does not indicate the payor. Examples of all reports can be found in the WLBX User Guide (page12/13).
Report is sent to the client at 4:00 pm EST.
No Deposit Notifications
This report provides a confirmation that no items or invoices were processed on a particular Business Day. Customer may choose either Fax or Electronic report.
Backup Materials
Output Handling
At the end of each processing day, back-up material is shipped to the Customer address, via an independent courier or mailed through Canada Post.
Set-up and management of the courier arrangements is the responsibility of the Customer. The backup material is packaged to include the following:
- Deposit advise
- Item image
- Invoices
- cheque stubs
- Returns & Correspondence
- Unprocessable Items
Any additional requirements should be specified in this section along with address and courier information (if required).
Acceptable Payees
Before submitting the Wholesale Remittance Client Questionnaire to Cash Management Implementations ask the following Third Party Determination questions of the client as outlined on the “Wholesale Lockbox Questionnaire” Implementation form. It will be the Sales Representatives responsibility to ensure the questions are asked and are properly documented. The Name and date of employee is required
Ask the customer:
Section A:
- Will the lockbox(es) be used by your business and only for your business transactions?
Yes (proceed to the next section)
No (go to #2)
- Relationship or Account Manager must fill out the following sections:
Third Party Name: ______
Third Party Address: ______
Third Party Principal Business Type: ______
Third Party Incorporation Number (if incorporated) ______
Relationship Between Third Party and Account Holder: ______
If there is more than one third party, please attach documentation containing the required information as per above to the Questionnaire.
Section B:
- Will the lockbox be used to deposit cheques that are payable to unrelated third parties?
Yes (go to #2)
No (go to #1b)
1b. The lockbox will be used to deposit cheques that are payable to my business and/or related third parties. Go to #3.
- Is your company engaged in the business of providing financial services (such as accepting deposits and facilitating the transfer of funds) in Canada to unrelated third parties?
Yes (confirm and go to #3)
No (decline the service for unrelated third parties)
- Fill in list of acceptable payees.
Enter up to 10 different possible payee names in the fields provided.
No Variation thereof
Select if the payee names must match exactly.
Any Variation thereof
Select if payee name can vary slightly to the names provided.
For future “Payee” modifications, the information must be provided on company letterhead and authorized by the signing officer of the Wholesale Lockbox legal document.
Deposit Account Information
CAD
Enter the Canadian account Transit# and Account numbers in the appropriate field. Transit is 4 digits.
USD
Enter the U.S. account Transit# and Account numbers in the appropriate field. Transit is 4 digits
Prescreening
Batch Size
Standard – The standard batch size is 250 cheques per batch.
Customized – If client would like a customized number of cheques per batch please describe here. Per batch limit is 250 cheques.
Customer Envelopes
Standard – The standard Symcor process for envelopes is to destroy them.
Return Backup Material – Select if the customer would like to receive envelopes with their backup material.
Cheque Images/Photocopies
Not required – Photocopies of cheques is not required by the customer.
All Cheques (Front Only) – Only the front copy of the cheques are required by the company.
Selective – Enter the description of the cheques that should be copied.
Postdated Cheques
Forward items with backup material. Do not process.
When Customer requests the return of postdated items the original cheque is returned to the customer with the customers’ backup materials.
Hold ____ days (maximum 365) then process (items in excess of number days specified will be returned unprocessed).
Customer is able to choose a specified amount of time Symcor will process postdated cheques. If the date of the cheque exceeds the specified amount of time Symcor will forward the cheque on to the customer.
There are two options for reporting postdated cheques:
- Do Not report
Symcor will not report the receipt of a postdated cheque and will process on the date described on the cheque.
2. Forward cheque image copy with backup on date of receipt
Symcor will take an image of the cheque on the day received and forward it with the backup material.
Cheques received in currency other than deposit account
Do not convert. Forward with backup material. – Symcor will not convert the cheque to the correct lockbox currency and will send the cheque with the backup material.
Convert and credit deposit account – On receipt of a cheque Symcor will convert to the correct currency and deposit to account.
“Paid In Full” Items
- Forward with backup material. Do not process. – From time to time our clients customers will send a cheque with paid in full written on them. Symcor will not process and send with backup material.
- Process cheques marked “Paid In Full” – Symcor will process cheques as if they were paid in full.
Missing Cheque Date
- Not required – Cheque date is not required on cheque.
- Input date Processed – Symcor will report the day they process the information.
- Input Postmark Date – Symcor will report the day of the postmark.
Credit Card Payments
- Do not process – Symcor will not process any credit card payments.
- Process – Credit card payments will be processed with a merchant number. Please also select the type of credit cards to be processed.
Moneris Merchant Number
If client chooses to have Credit Card Processing a Moneris Merchant Number and E-Select Plus Store ID must be provided.
Card Types
Select all card types that should be process at Symcor.
Processing Instructions
Multi-Cheque, One invoice
- Do not process – Do not process multiple cheques with one invoice scenario and forward to the client.
- Standard – Process scenario, and enter same invoice number for every cheques.
- Non-Standard – Enter any special processing instructions for this scenario.
Cheque, no Invoice – Lockbox receives a cheques with no invoice in the envelope.
- Do not process – Do not process and forward to the client.
- Standard – Process and key 9’s in the File/Report for Customer Number.
- Non-Standard – Enter any special processing instructions for this scenario.
MICR Cheque Information – Data Capture
Please check off and enter field size of all fields which client requires to be keyed.
Cheque Amount
Amount entered on the cheques by Payee.
Cheque Serial Number
Serial number on Cheque
ABA/Routing Transit Number
Payee’s transit number which appears on the cheques.
Payee Name
Name of customer making the payment to the client - can be found on cheques.
Account Number
Client’s customer account number, can be found on invoice.
Other
Enter any other keying requirements for the client.
Data Verification
Key Verification
This process allows the data for specified fields to be keyed twice to ensure accuracy of the information. Enter the specified fields on the Information Reporting section.
Transaction Balancing
This process ensures that the dollar amount of the Item balances with the total amount of the Invoice. This process is a mechanism through which the payor’s data is cross-referenced with the rejection criteria.
Check Digit Routine
This process ensures the passing of valid account information using cheque digit verification on the data field. We offer standard cheque digit routines MOD 10 and MOD 11, with even or odd weighting factors.
Invoice Information
Clients may specify the length of certain information that will appear on the paper, fax or electronic report. See example below.
Field Name / Required Field Length / Maximum Field Length / Attribute: Numeric/Alphanumeric / Key Verification
Required
CUSTOMER NAME / 20 / 20 / <Click Here>NumericAlphanumeric / <Click Here>YesNo
INVOICE NUMBER / 11 / 15 / <Click Here>NumericAlphanumeric / <Click Here>YesNo
INVOICE AMOUNT / 10 / 10 / <Click Here>NumericAlphanumeric / <Click Here>YesNo
CHEQUE NUMBER / 10 / 10 / <Click Here>NumericAlphanumeric / <Click Here>YesNo
If electronic file is chosen, please make sure above fields are clearly stated on the file layout provided by the customer.
Detailed/Additional Processing Instructions
Provide any additional instructions or details that are relevant to your processing needs.
Sample Invoices
Sample Invoices are required for implementation to send to Symcor to create a test file. Please specify whether they are included with the implementation request or provide the expected date the client will send the samples to Implementation to action accordingly.
Attachments
Sample Invoice
Select if sample invoices are provided at the time Questionnaire was sent to Symcor.
Electronic Data File Layout
If Client is to receive an electronic file please attached desired detailed layout with Questionnaire.
Electronic Image Services
General Information
Please Enter the client information including Address, Contact Name and Phone Numbers.
Image Capture Requirements
Clients have 3 options for Image Capture:
- Cheque Only – Symcor will only take an image of the front of the cheque. No other WLBX documents will be imaged. (Front only)
- Image All Documents – All documents (cheques, invoices, and correspondence) will be imaged. Excludes envelopes. (Front only)
- Image All Documents – All documents will be imaged (cheques, invoices, correspondence and envelopes).
Image Services
Image CD ROM – Select if CD is required by the client. If client requests CD to be delivered to a separate address than the regular back up, please add the new address in the Special Instructions section.
Frequency
It takes 48 hours to produce a CD and send to the client. For example, if a client receives a daily CD, the Monday CD will be sent with Wednesdays advice package.
- Daily – A daily Image CD will be produced.
- Weekly –Image CD will be created each Friday.
- Monthly – Image CD will be created on the last Calendar Business Day of the month.
# of Copies
Enter the number of CD copies client requires.
Clients with Multiple Lockboxes.
For clients with multiple lockboxes (e.g. US and CAD currency LBX) please select one of the below options.
- Include all lockboxes on one CD – Allows clients to consolidate lockbox images on one CD.
- Create a separate CD for each lockbox – Each lockbox will be burned on to a separate CD.
Web Access
If client requires access to WLBX documents through DLB please select.