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Overview of CCB and MCC
Accounts
Last Revised March 2012
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Overview of Different Models
Mutual Corporate Client (MCC)
Account
structure
Documentation
Forms
Implementation
Forms
Credit Risk
Controls
Information
Reporting
Client Of Correspondent Banking (CCB)

Bank to bank agreement

Client signs with BMO directly

Your client signs the “Mutual Corporate client (MCC)
Authorization”

Your client signs the appropriate BMO service agreement


Account are jointly owned/controlled by you and your client

You and your client both sign the “Agreement for CCB Accounts”

You provide BMO with requisite account open material
You complete the appropriate BMO Implementation forms
gathering input from the client

You complete the appropriate BMO Implementation forms gathering
input from the client

Forms submitted either using paper, either via email or mail

Forms submitted either using paper, either via email or mail

Your clients can operate on a pre-funded or via credit lines
carved from your credit lines at BMO

Your clients always operate with credit support from your lines at BMO

Prefunding is not supported

You have access to real time activity on their clients on BMO’s
Correspondent Banking portal CDA Web

BMO can deliver MT940 or BAI file with previous day data to you

Your clients have access to real time information online

Online Banking for Business is slated for a private label
and single sign on capability in upcoming releases

BMO can deliver MT940 or BAI file with previous day data
to you
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CBDS and MECH Accounts
CCB Service
MCC Equivalent
Comments
CBDS Accounts
Mech Accounts

International Accounts
Domestic Accounts
CDA Web
Online Banking for Business

Cash Letters
Branch Deposits

Concentrator Deposit
Service
Firstbank Cash
Concentration Service

International Payments
Incoming Wire Payments

Provides access to Canadian banking
services
 Available in Canadian and US Dollars
Provides online access to financial and
transactional information
Provides a mechanism to submit bulk
deposits to accounts
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Provides a mechanism to make
deposits any BMO branch and have the
funds automatically transferred to a main
account
Provides the ability to receive funds
via wire payments (guaranteed, timely
deposits)
CBDS and MECH Accounts
CCB Service
MCC Equivalent
Comments
Wholesale Lockbox
Wholesale Lockbox

Electronic Funds Transfer
(EFT) Credits
Electronic Funds Transfer
(EFT) Credit

Electronic Funds Transfer
(EFT) Debits
Electronic Funds Transfer
(EFT) Debits

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Provides the ability to receive mail
payments into an account, including
reports
Provides the ability to create a file of
credit payments to be distributed
electronically either to BMO accounts or
to other Canadian banks
 Available in Canadian and US Dollars
Provides the ability to create a file of
debit transactions to be collected
electronically either from BMO accounts
or from other Canadian banks
 Available in Canadian and US Dollars
CBDS and MECH Accounts
CCB Service
MCC Equivalent
Comments
Drafts and Checks
Checks

For CCB accounts: provides the
ability to issue checks or draw drafts
against the CCB account
For MCC accounts: provides the
ability to issue checks against the
account

Information Reporting
Services:
Information Reporting:


Host to Host

FTF
MECH to SWIFT
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Provides the ability to receive bulk file
delivery of reports and information

Disclaimer
These materials are confidential and proprietary to, and may not be reproduced, disseminated or referred to, in whole or in part
without the prior consent of BMO Capital Markets (“BMO”). These materials have been prepared exclusively for the BMO client or
potential client to which such materials are delivered and may not be used for any purpose other than as authorized in writing by
BMO. BMO assumes no responsibility for verification of the information in these materials, and no representation or warranty is
made as to the accuracy or completeness of such information. BMO assumes no obligation to correct or update these materials.
These materials do not contain all information that may be required to evaluate, and do not constitute a recommendation with
respect to, any transaction or matter. Any recipient of these materials should conduct its own independent analysis of the matters
referred to herein.
“BMO Capital Markets” is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal,
Harris N.A. and Bank of Montreal Ireland p.l.c., and the institutional broker dealer businesses of BMO Capital Markets Corp., BMO
Nesbitt Burns Trading Corp. S.A., BMO Nesbitt Burns Securities Limited and BMO Capital Markets GKST Inc. in the U.S., BMO
Nesbitt Burns Inc. in Canada, Europe and Asia, BMO Nesbitt Burns Ltée/Ltd. in Canada, BMO Capital Markets Limited in Europe,
Asia and Australia, and BMO Advisors Private Limited in India.
BMO does not provide tax or legal advice. Any discussion of tax matters in these materials (i) is not intended to be used, and cannot
be used or relied upon, for the purposes of avoiding any tax penalties and (ii) may have been written in connection with the
“promotion or marketing” of the transaction or matter described herein. Accordingly, the recipient should seek advice based on its
particular circumstances from an independent tax advisor.
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