What is a Lockbox and why do I need it?
A Lockbox is a special post office box in the bank rented by businesses for B2B payments. Lockbox Services simplifies and speeds up the collection and processing of accounts receivable (AR). Improve deposit availability and security with Lockbox’s three key receivables services. Remittance Processing puts payments on a more direct route; Data Transmission and Data Integration Services automates AR; and Web Delivery improves each of these services by making them more accessible.
REMITTANCE PROCESSING SERVICE
Accelerate deposit availability.
- Bypass the office for direct payment arrival at the bank
- Reduce collection float (mail and processing time)
- Streamline check and remittance processing
- Automate research, check storage/security, and deposit prep
- Decrease risk of fraud with outside audit trial
DATA TRANSMISSION + DATA INTEGRATION SERVICES
Automate your entire accounts receivable process.
- Expedite account receivable collections
- Reduce time required to post receipts to account receivables system
- Access anywhere
Enhance your Lockbox services.
- Securely view your Lockbox data from anywhere