Streamline your receivables processing and crediting to customers’ accounts with our Lockbox Services. You’ll save on clerical expenses, speed up your deposit processes and reduce the amount of time your company’s payments spend in the mail
With our Wholesale and Retail Lockbox services, your customers mail their payments addressed to your company’s special Post Office box in Philadelphia, PA. Couriers retrieve your mail Monday through Saturday and deliver it to our Lockbox Center where your payments are opened and processed according to your instructions and then deposited to your bank account.
With our Retail Lockbox service, your customers mail in a machine-readable remittance document, or coupon, with each payment. We capture information from the coupons and the associated checks and produce a custom report containing the data you require for crediting your accounts receivable. You can develop an automated upload of this information to update customer accounts, greatly reducing clerical time spent posting receipts. Your staff will focus on exception items only (such as payments without coupons or multiple payments with one check.)