Bank Of Montreal

How do you upload files using the File Transfer Facility (FTF) in your BMO account?

Learn how to upload files using the File Transfer Facility in your BMO account.

In this article, we'll explain how to upload files using the File Transfer Facility (FTF) in your BMO business account. Existing instructions may not be very clear, so we aim to provide a step-by-step guide for this process.

BMO has a feature called the File Transfer Facility (FTF), which allows you to upload unpaid bills into the system to process payments faster.

Here's how to use the File Transfer Facility(FTF):

Stage 1- Access your BMO Business account and navigate to the Payments & Receivables tab. Select File Transfer: Under "File Transfer Facility," choose "Send Files."

Stage 2- Choose File Type: Select the type of file you’re sending. Post this - Upload File: Click the Browse icon to locate and select your file, then click "Send File."

Stage 3- Complete the two-factor authentication process. Finally, once the upload is complete, note the Tracking ID. You will be able to check the status of your file, select "Transmission Summary.

As an user, you will want to know the template format required to upload payments to BMO smoothly.

While BMO offers support articles on this topic, it opens up to a 16-page document, which is extremely difficult to understand.

It is nearly impossible to comprehend the file format required for a successful FTF upload. If you upload the file in an incorrect format, here is the message displayed:

Unfortunately, users are not informed about the specific error or its location in the file, leaving them to resolve the issues on their own. The technology behind this feature is outdated and adds more work for users. The usability is poor, making it an unhelpful and cumbersome process.

How Does the Payments Import Work with Finofo?

In contrast, Finofo provides a seamless process for importing bills. This feature works effortlessly, simplifying the addition of bills to the platform. Even larger datasets are displayed with example values from the uploaded CSV file, improving usability.

Whether it’s a clean or messy CSV file, Finofo handles it all effortlessly. You can edit and match columns with a preview of the data, ensuring smooth uploads of unpaid bills. The interface is clean and intuitive, making it easy for users to map the relevant fields. Once this is done, bills are imported in batches efficiently.

Now that you've seen the difference between the two platforms, do you think it's worth paying for BMO's subpar product?

Open your free account with Finofo today and streamline your bill payments!