Manage receivables more efficiently through expedited check processing.
Our Lockbox Services1 allow your receivables to be deposited into your business account faster than if you did it yourself, saving you valuable time and resources. Receivables are processed multiple times throughout the day through the use of a unique, lockbox only zip code that allows for reduced sorting time and immediate delivery of incoming payments.
How do Lockbox Services Work?
- We will set up your receivables to be sent to a specific lockbox, using a unique zip code, which receives mail several times a day.
- Upon receipt, we will scan each image of what’s received and deposit them into your account, allowing you access to your money immediately.
- The next day, you can view each receivable online.
Quick and Efficient Way to Process Your Receivables
- We process receivables multiple times throughout the day, as our goal is to turn your account receivables into accessible cash as quickly as possible.
- Your receivables are imaged as they are received in the mail via our high-speed optical character recognition (OCR) system.
Immediate Delivery of Receivables
- Using a unique, lockbox-only zip code allows for reduced sorting time and immediate delivery of incoming payments.
- Bonded couriers pick up mail from our lockboxes several times a day, allowing for faster access to your receivables.
- Providing quicker processing of your receivables reduces outstanding “float” money
Online Access to Images & Data
- If you choose, we will forward all remittance information to you electronically the same day your checks are processed.
- You will have next-day online access to view your receivables, including checks, coupons and invoices.
To get started with Lockbox Services, contact your local South State business banker.