With our Lockbox service, your customers send payments to a Michigan based post office box where the payments are collected and processed immediately according to your instructions. Payment and remittance documentation is then delivered to you via a transmission or email. Wholesale, OCR (optional character recognition) and Virtual Lockboxes are available.
FEATURES AND BENEFITS:
To learn more please email us
, call Treasury Management at 866-372-1275 or stop in at any branch
- Accelerates collection of funds
- Eliminates time and cost of trips to bank
- Eliminates data keying of receivable information
- Strengthens internal audit controls by separating invoicing from remittance
- Michigan based processing site
- Virtual lockbox provides electronic images of checks and remittance information the same day the deposit is made
- Reduces employee fraud
Services are customized and resulting fees are based upon your specific needs.