> HOME > BUSINESS BANKING > CASH MANAGEMENT > LOCKBOXES

Lock Boxes

The primary benefit of a lockbox is the minimization of collection float. Customers send their payments directly to the bank, bypassing your company completely.

The bank processes the payments and makes the necessary deposits into your company's account. All documentation is forwarded to your company for further review.

Since all payments are processed and deposited the same day, your company gains faster access to their cash. This service saves time, since you no longer have to process payments or make trips to the bank to deposit them.