Canadian affiliates using US BMO Mosaik CC

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strikernr

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The sign says "Nowhere".
Ok, here is another question for Canadian affiliates. As i set up my business, I'm running into few issues in regards to bank accounts and credit cards (in US dollars).

So I got a new US BMO Mosaik credit card. I also opened a new business account in USD in TD Canada Trust. Now, when I went online into my TD account, I couldn't add my US BMO card in my payee list. When I called TD, they said they can't add it since the card is USD.

Now, how do I pay my BMO card? I don't want to go to BMO branch with a cheque every month. I was hoping to have this setup online, so I can just pay it online.

Everyone who has the US BMO Mosaik card, how do you guys pay your payments to your card online?

-G
 


You should be able to pay it, I pay all my credit cards from different places through TD online. You may want to call TD and ask them.
 
Call up TD and add BMO Mastercard as a payee, only problem is it takes 1-2 business days to process
 
You guys are talking about paying a USD BMO Mastercard through TD correct? Most banks don't allow bill payments in USD funds, might have to hook up with TD if this is the case.
 
This is going back almost a year from when I last worked at TD, so it may not be correct.

I THINK in December or January of 2007 they did implement the ability to pay off USD credit cards in EasyWeb... it might not have been that, but I'm about 80% sure it was. I know it was something that had to do with USD business accounts with EasyWeb, and I believe you did have to call EasyWeb and get them to add it to your account as a payee manually, so try doing that.
 
Thanks Hannah, good to know :)

I don't because you can't pay other bank's USD credit cards. Still shopping around for a business bank, it's been a week and a half worth of investigation and a major PITA to find the right bank for me.
 
Rajuthan said:
Call up TD and add BMO Mastercard as a payee, only problem is it takes 1-2 business days to process
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From Bryn
You should be able to pay it, I pay all my credit cards from different places through TD online. You may want to call TD and ask them.
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I called TD. They said it's not possible. I'm going to go my TD branch and demand they add the card to my payee list. I don't want to walk into BMO ever other week to pay of my CC with cheque. This is such a hassle.There is got to be a way.
 
strikernr said:
From Bryn
I called TD. They said it's not possible. I'm going to go my TD branch and demand they add the card to my payee list. I don't want to walk into BMO ever other week to pay of my CC with cheque. This is such a hassle.There is got to be a way.
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Tell them to add it or you're moving all your business accounts to BMO... I just applied for this same card and I definatelly do not see my self schleping a cheque each week

TD also has a US card I am positive if you signed up for their own US card it would show up in Easy Access and you can transfer funds...if the empty threats don't work and they really can't add it, I might just apply for their card, only drawback it has no points or rewards..
 
Angel of Wealth said:
if the empty threats don't work and they really can't add it, I might just apply for their card, only drawback it has no points or rewards..
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That's exactly why I didn't apply for TD US card. Airmiles are way better than what ever they offer. I already had 5000 airmiles on my amex card before i switched over to BMO mosiak.

I'll go over to my TD branch today. I'll update you guys.
 
Ok this is my experience, apparently because TD Bank is not hooked up with mastercard, therefore they cant pay US DOLLAR funds through their system. theres no option in doing such payment. i even talked to on of their branch manager about it. they simplely cant do it at this point.
 
Jackeyy said:
Ok this is my experience, apparently because TD Bank is not hooked up with mastercard, therefore they cant pay US DOLLAR funds through their system. theres no option in doing such payment. i even talked to on of their branch manager about it. they simplely cant do it at this point.
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Then what is the solution? Sure we can make business account in BMO but that means I gotta get in touch with all my AMs and get them to chnage my wires to new account again. Not to mention moving all the money and everything.

The only way I see it cheque right now. Does anyone know how long it takes pay off your CC with cheque?
 
Okay I got some infomation

Well, I went to my TD branch, talked to the teller guy there and asked him to add my US BMO Mosaik card to my payee list. He said it's not possible. My best bet is to go to the BMO branch instead and pay my CC payments via cheque in person.

I called in the BMO credit card support to get some info on how long it takes for payments to process via cheque. This is what she told me.

1. You CC payments are prinited and mailed to you on the 20th of the month.

2. May take a week for the credit statement to arrive via mail (by 28th of the month latest).

3. Basaically, then you have 7-8 days to pay off your CC, which is due on the 8th of the next month.

4. Cheques may take 4 to 7 days to process.

This is risky since your payments are counted NOT on the day you pay but on the day the credit company receives your payments. So if you're late in making payments you're charged interest.

I thinking using my CND AMEX card was better. It make sense to take the hit on exchange rate rather than going through this process. I'm going to try this process for my first month and see how it goes.


-G
 
This is a major problem with Canadian banks and making payments to a USD credit card. Unless your bank account is with the same institution that has the USD credit card (e.g. BMO account and BMO USD MC) you cannot make "bill payments" from your bank to another bank in USD funds.

I've been to almost every bank and they all simply can't do it. Major PITA as I need to free up room on my credit card every week or else I'll be overlimit. I then have to either go with a cheque or bank draft to the other bank to pay my credit card balances. I have 2 USD credit cards and another on the way, but there's got to be an easier way to do this rather than setting foot in these banks every week personally to make the payment.
 
Spliffic said:
This is a major problem with Canadian banks and making payments to a USD credit card. Unless your bank account is with the same institution that has the USD credit card (e.g. BMO account and BMO USD MC) you cannot make "bill payments" from your bank to another bank in USD funds.

I've been to almost every bank and they all simply can't do it. Major PITA as I need to free up room on my credit card every week or else I'll be overlimit. I then have to either go with a cheque or bank draft to the other bank to pay my credit card balances. I have 2 USD credit cards and another on the way, but there's got to be an easier way to do this rather than setting foot in these banks every week personally to make the payment.
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Actually, even if you you have a bank account and US credit card from the same bank, you still can't make payments online. I asked the TD bank teller at the front, what if get a US Visa from TD, will I able to add it to my payee list and do payments online? He said NO. You can't add TD US cards either to your payee list. You need to use phone banking or come in to transfer payments.

Yes this is could be a real pain. I'm not sure about BMO.
 
strikernr said:
Actually, even if you you have a bank account and US credit card from the same bank, you still can't make payments online. I asked the TD bank teller at the front, what if get a US Visa from TD, will I able to add it to my payee list and do payments online? He said NO. You can't add TD US cards either to your payee list. You need to use phone banking or come in to transfer payments.

Yes this is could be a real pain. I'm not sure about BMO.
Click to expand...

Thats a lie. I've been transferring funds from my TD US Bank Account (Borderless account) to my US TD Visa Card for a few months now. The problem with the US TD Visa Card is that it doesn't work with Facebook.
 
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