Skip to main content

How to deposit a commission cheque at BMO

  • Updated

*Note: In Manitoba, you may not pick up a cheque. The cheque must be mailed to Real.*

Most commission cheques are mailed to the Brokerage per the conveyance documents. 

As an option, an agent may pickup a commission cheque from the Lawyer or Other Brokerage and deposit it at any BMO branch. 

Before you deposit the cheque: 

  • The cheque must be made out to Real Broker or official trade name of province.
    • Alberta: Real Broker AB Ltd. or Real Broker
    • BC: Real Broker BC Ltd. or Real Broker
    • Ontario: Real Broker Ontario Ltd., Brokerage
  • Cheque is signed on the front. 
  • Leave the back blank. 
  • Your transaction shows “Trade Record Sheet Confirmed” in reZEN

How to Deposit the Cheque:

Step 1: You can go to any BMO Branch to Deposit the Commission Cheque. Please reference the bank details for your province:

Step 2: Once the check is deposited, login to reZEN, open your transaction, and click the Deposits tab. Then, scroll to the Commission Deposits section and click Manage Commission Deposits. 

Step 3: Fill out the information in the module that opens, then click Add. 

  • Amount should be the total commission amount due
  • Description: just write "Commission Pay"
  • Required by: should be today's date. 

Step 4: The deposit will appear on your transaction under the commission deposits section, but still needs to be confirmed. If you took this cheque to the bank, click Manual to record the deposit.

Step 5: Fill out all the information in the module that appears on the right. Then, upload the Receipt from the bank teller and click Add.

  • Amount: this is the amount of the cheque (note: in the previous step, you added the total commission amount due. In this section, put the amount of the cheque you deposited). 
  • Date Received: the day you physically took the cheque to the bank
  • Date deposited: the day you physically took the cheque to the bank
  • Deposit Type: Cheque
  • Depositor Name: your name, since you deposited the cheque
  • Bank branch - you can leave this blank if you don't know
  • Transit Number - you can leave this blank if you don't know

Don't forget to upload the receipt you received at the bottom.

Step 6: Your deposit will appear in the commission deposits section of your transaction, but needs to be confirmed. Real's Finance team will review the deposit and confirm within 48hrs. Once confirmed, no further action is needed. 

Step 6: We also need to upload a copy of the cheque. Click Checklist tab in your transaction, then find the checklist item for Proof of Payment (the number on the checklist may vary by Province) and click Upload.

  • If a Lawyer sent the cheque, we must have the Confirmation of Closing Letter. Please find this item and click Upload. 

That's it! You're done. Please make sure all other checklist items are updated. 

Related articles