Lockbox Payment Processing is an easy way to collect your customers' payments, reducing wait time between collection and processing. A Lockbox allows your customers the convenience of mailing their payment to a centralized address. Bank of Colorado is then responsible for the collection and processing of their payment for your business.
Advantages of Lockbox Processing:
- Flexibility and convenience to meet customers individual needs
- Speed and efficiency-Funds are collected, processed and deposited the same day they are received
- Electronic accounts receivable file provided or ease of posting
- Online access to images (payments and documents)
- Flexible search and inquiry selection criteria
- Date Range
- Item/Form Data (e.g., account number, serial number, RT, amount)
- Item Type or Category (e.g., debit, credit)
- Wildcard searches (where appropriate)
- Image functions
PinnBank for Business required for Lockbox Payment Processing services. Pricing dependent on services requested.