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Lockbox Services
Automate your receivables posting to streamline your collections process.
Access your funds sooner.
Our Retail and Wholesale Lockbox Services accelerate the process of converting accounts receivable into cash by expediting mail flows, reducing processing times and improving the availability of funds.
Payments are directed to a specific post office box and are retrieved throughout the day to ensure timely processing. A seasoned staff supported by state-of-the-art technology assures the delivery of timely and accurate processing per your defined specifications. You can access payment files and reports online through a secure site.
Perfect for you if:
- You receive payments in the mail.
- You process payments at multiple locations.
- You invoice for accounts receivables.
- You want to reduce collection float.
- You have an influx of remittances creating overwhelming peak periods.
Advantages
- Increases efficiency of collection process
- Reduces clerical labor costs while providing an outside audit control
- Expands your usable cash for investments or debt reduction
- Offers adaptable reporting and remittance procedures
Convenience
- Mail is picked up throughout the day and checks are immediately processed for deposit
- Payment files can be designed to interface with your accounts receivable system for automatic updates
- Online reporting gives you access to images and reports
We specialize in your business.
Whether you’re a startup or big business, Easthigh Credit Union offers solutions perfectly suited to your financial needs. See how we can support your business goals.
Find Out More
Ready to get started?
Let’s have a conversation
Have questions about this service? Contact us today.