Treasury Management

 

Lockbox

Lockbox is an effective method for processing and depositing customer payments using the bank’s remittance processing centers. This service is designed for companies that wish to benefit from the earliest possible collection of payments and to assist with the management of collecting receivables.

 


 

OPTIONS

  • Wholesale Lockbox
  • Retail Lockbox
  • Lockbox Image Archive

 


 

BENEFITS

  • Accelerates collection time
  • Increases availability of funds
  • Reduces internal processing, hardware, and administrative costs
  • Automates updating of accounts receivable postings

 


 

HOW IT WORKS

Wholesale Lockbox
Wholesale Lockbox1 is designed for commercial customers who receive a lower volume of high-dollar checks (typically business-to-business payments).

  • We process, endorse and deposit checks into your account.
  • You receive via first-class mail the original remittance information, images of deposited checks and a deposit report.

Retail Lockbox
Retail Lockbox1 is designed for commercial customers who receive a high volume of low-dollar payments (typically consumer-to-business)

  • Remittance coupon information is captured electronically using remittance processing equipment that will generate a payment data file for accounts receivable postings.
  • Lockbox data transmission files provide the ability to automate the posting of receivables.

Lockbox Image Archive
Lockbox Image Archive1 is an online lockbox image service that allows you to access images of your checks and remittance information. This service is available for Wholesale or Retail Lockbox.

  • Research payment capabilities – search by date, batch number, check number, check amount, unique client ID
  • Leverage enhanced print and download functionality – print or download a single payment or the entire daily image file
  • Access same-day lockbox image items in real time – obtain same-day images after batch process has been completed

1) Fees apply.