Conventional Loan Banner

How Does Retail Lockbox Work?

Retail Lockbox payments – including credit card, ACH and check payments – are mailed to a unique, centralized PO Box. Our efficient, automated processing equipment speeds the remittance collection process and accelerates the cash flow for your business.

Incoming payments and machine-readable coupons are sorted by payment type. Checks and coupons are scanned and images are captured on our advanced equipment, which also reads the coupon scan line and check MICR line. Check amounts are captured, while coupons are reviewed for address change information. The system then automatically encodes the checks with the dollar amount.

Key Benefits

    • Faster, more efficient collection
    • Reduced mail float
    • Accelerated cash flows
    • Flexible, customized service
    • Same-day on-line access to payment and remittance information
    • Online access to image archive for paperless storage and improved research capabilities
    • Timely reporting with a variety of delivery options

Robust Image Access and Reporting

With American Bank & Trust’s Retail Lockbox, you also have secure web-based access to check and document images, lockbox reporting and account activity, including quick deposit summaries. You can also view and print images of check and remittance documents on the same day that they are processed. Check images and remittance information are captured and uploaded to our receivables manager on-line system for fast and easy viewing.

Our receivables manager portal provides access to images and an image archive, giving you a convenient, fast and reliable way to store and research payment information. You can reduce storage costs and improve cash application, exception processing, customer service, and credit research.

If desired, important data can be keyed or captured automatically. Qualified documents benefit from Intelligent Character Recognition (ICR)-assisted keying. Critical data may also be transmitted directly to your accounts receivable system at the end of the day in your choice of multiple available formats. In response to increasing industry concerns about data protection, your data is encrypted for maximum security.

Additional Capabilities

    • Customized data transmission options
    • Extended image archiving
    • Optional CD-ROM/DVD archiving
    • Optional credit card processing available
    • Data transmission directly to your accounting software
    • Remote Lockbox Capture available

Enhanced Exceptions Processing

You will receive e-mail notifications and be able to make same-day online decisions about potential unbankable items (e.g., questionable payees, stale-dated items). Any items you decide to have us process are processed as fast as the same day. This enables you to improve the efficiency of your accounts receivables processing.

Contact Our Treasury Services Team

Treasury Team Opt 1

Your Treasury Service needs are more complex than ever before. Our team of experts live at the intersection of “what if and why not?” and can help you eliminate pain points to transform your cash management into a bottom-line enhancing machine. For all the services and technology you expect, plus all the insight that goes above and beyond, we’re ready to build a relationship that creates value for you.

Share This