Lockbox

For businesses that receive a large volume of payments or large-denomination checks accompanied by remittance documents, a Lockbox arrangement can streamline collections and payment processing.

With Lockbox, your customer's payments are re-directed to a special post office box, instead of going to your place of business. From there, payments are retrieved, processed, and deposited into the account of your choice - all without lifting a finger.

Key Benefits

• Substantially lower internally processing costs
• Speed up collections
• Quickly convert receivables into cash 
• Increase control and efficiency in receivables management
• Improve audit controls and data security
• Enhance reporting