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Lockbox Services Allow For Quicker Access To Cash

Our lockbox service can help your business accelerate your cash flow by providing an end-to-end receivables solution to convert your collections into working capital (or working cash). Our state of the art lockbox automates the collection, processing and deposit of checks to ensure same day credit while saving time, reducing error and minimizing risk.  By centralizing your payment collection you can reduce mail float, speed collections and improve your days sales outstanding while reducing your check processing costs. 

How Our Lockbox Services Work

No matter how many payments you receive, we accept payments daily through a centralized post-office box and deposit those funds quickly and securely into your business bank account. We process your incoming payments at designated times using our automated collection processes to accelerate the posting and availability of your incoming payments. Payments and remittance information are securely imaged and archived to aid your posting process and deposits are made the same business day they are received in a fast, accurate manner. By using a standard remittance address we can also help reduce errors, expedite the collection process and provide faster access to your cash.

Lockbox Processing Features

  • Standard Remittance Address and Centralized processing reduces mail float
  • Accept and process standard/legal checks, documents and coupons
  • Same-day check processing and deposit of funds
  • Integrated, online reporting
  • High-quality check imaging, archiving and retrieval
  • Multiple processing locations

Benefits of Lockbox Accounts & Services

  • Faster processing for improved cash flow
  • Reduced risk theft and fraud
  • Improve efficiency and productivity of payment collection
  • Reduce days sales outstanding of payments
  • Expedite posting and funds availability
  • Reduce processing errors
  • Improve mail float
  • Manage payment exceptions more efficiently

Get Lockbox Banking Services for Your Business

Our Treasury Management team would love to connect with you to ensure lockbox services are the best fit for your business and to get you started on the path to greater efficiencies. Contact us today.

More Resources for Your Business

Business Online Banking and BillPay – take your efficiencies one step further with business online banking and BillPay, the digital ways to process payments and access your accounts 24/7. Transfer funds, place stop payments, view account activity and more.

Business Debit Cards - Our BusinessCard™ debit card powered by Mastercard® can be used to securely make payments and access ATMs. Funds are taken directly from your business checking account, giving you immediate access to your money and reconcilement within Online Banking and our mobile app.

Employee Benefits Consulting – often the second largest expense to a business after payroll, the ever-changing landscape of providing competitive benefits to your employees requires the right partner. We’d love to help.