Lockbox Solutions

Lockbox Solutions maximize the speed with which your receivables are converted to working cash by directing your remittances to an Alabama based post office box. Your mail is collected daily and your checks are processed for same-day deposit, thereby reducing mail and collection float time, lowering your in-house clerical costs, and making funds available to you quickly.

We offer options with a wholesale lockbox process or a retail lockbox process.

How it works

Payments are picked up at the local post office daily. All envelopes are opened, deposits are prepared and images of checks, remittances, and envelopes are generated.

Deposits are forwarded to River Bank & Trust for processing, while reports, images of checks, and all remittance documentation are available to you on our lockbox website. All checks received at our processing facility are deposited into your account on the same business day.

Benefits

• Reduces mail, processing and collection time
• Improves cash flow
• Streamlines the receivable process
• Creates additional capacity by eliminating internal deposit processing
• Enables you to maintain back-up records of all checks and provides a complete audit trail