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How do I create a wire payment template?

Save time by creating your own templates for the wire payments you regularly send. The template will specify all of the required information with the exception of the value date and amount to be sent. These will vary and are determined each time you create a payment using the template. 
 
Here's how you create a wire payment template: 


 

  1. In Online Banking for Business, select the Payments & Receivables tab.
  2. Under "Wire Payment", select Create Template.
  3. Give your template a name, then enter the required information.
    Note: To modify the “Charges” section, you may need to first contact your BMO representative.
  4. Once you're ready, select Review.
  5. If everything looks good, select Complete.
You've successfully created your template. Once it's fully approved, it can be used to send wire payments. 
 
Important details to keep in mind when creating your wire payment templates:
 

Beneficiary information

The beneficiary's name and address fields support up to 35 characters each. 

Default currency

 When entering beneficiary details, the payment currency will default to the local currency of the beneficiary. This usually results in reduced fees and processing times, but you can change it. 
Payments to another BMO account based in Canada 

Enter the beneficiary's 11-digit account number. This includes a 4-digit branch number followed by a 7 digit account number. How to get a BMO branch number.

Don't insert the code "/ACC/" in the "Sender to Receiver information" field.

Payments to Europe, the Middle East, or other IBAN countries 
What is IBAN

Payments destined for Europe, parts of the Middle East and other countries require a full IBAN. List of countries using IBAN

Add it to the account number field for the beneficiary. 

Payment to the Qatar

Enter the appropriate 5-character payment purpose code in the "Purpose of Wire" field. List of Qatar Payment Purpose Codes

Payment to the United Arab Emirates

Enter the appropriate 3-character payment purpose code in the "Purpose of Wire" field. List of UAE Payment Purpose Codes
"Payment Purpose" field modifications

Include additional payment information (e.g., invoice number) for the beneficiary in the "Purpose of Wire" field. 
Intermediary banks Intermediary banks help us send wire payments in foreign currencies. If we don’t have a direct relationship with the beneficiary bank, we use an intermediary bank to help with the transfer.

 

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