Lockbox Services: Make Payment Processing Fast and Easy

If your business is looking to be more efficient and collects 25 or more payments daily, consider our lockbox services to further benefit your organization and meet its financial needs. Lockbox services handle your paper and electronic payment processing in a speedy, secure, and accurate way that frees up time for your employees to tackle other tasks.

How do our lockbox services work?

Your customers send their paper check payments to a designated PO Box which is collected and processed directly into your account. Lockbox services provide same-day remote access to processed items and next-day credit. Our research portal allows you to respond to your customers’ inquiries by researching payment activity and viewing images online in seconds and also provides you customized reporting to compliment your accounts receivable process.

If you have multiple payment streams, for example, if your clients send payments through their bank bill pay, our Electronic Lockbox is an electronic payments concentration solution that combines customer electronic bill payments from different networks and financial institutions and converts the payments into a single deposit into your account.

Benefits of Lockbox Services

• Save on overhead costs and improve cash management if you get 25+ payments daily.
• Improve the accuracy of your accounts receivable process.
• Enable employees to handle other tasks that cannot be automated.

“Lockbox services are becoming more popular because businesses are doing more with less, especially after the COVID-19 pandemic,” says Lara DeGroot, Vice President Treasury Management Sales Officer for Town and Country Bank. “Outsource your payment processing to take some of the burdens off of your office manager or accounts receivable employee, so they can do their other tasks that can’t be computerized.”

Contact us today!

If you’re interested in these services, please reach out to Lara DeGroot or another one of our Business Bankers or call our Customer Services Solution Center today at 866-770-3100 to gather more information.