How Lockbox Services can help your business
Reduced labor and transportation costs
We collect and process your customer payments for you, quickly and efficiently, while providing accurate and timely information.
Faster processing = improved cash flow
Decrease delays between receiving a payment and when the funds become available by letting us handle the process.
Reduced paper storage costs
Provides a 12-month online archive of check and remittance payment documents.
Reduced internal fraud risk
Create separation of duties on your team.
How Lockbox Services Work
We’ll take care of it so you don’t have to
Your customers’ payments are routed directly to a post office box maintained by Union Bank & Trust on your behalf. These payments are collected, verified, imaged, and deposited to your account — all that same day. Quality control procedures at each step ensure the highest degree of accuracy.
- Check receivables processing and bank deposits are taken care of for your business
- Same-day online access to customer payment information with flexible search capabilities
- Detailed Lockbox information archive available online for 12 months
- Electronic payment file available to help update your accounting system
