lockbox
Boost Your Payment Collection and Cash Flow
Streamline receivables processing with reliable, secure and scalable Lockbox services and options. Deluxe’s Lockbox+ is best for enterprises and financial institutions.
OVERVIEW
As a Deluxe Lockbox+ client, you’re in control. Take advantage of flexible deployment options, innovative receivables solutions and powerful capabilities designed to improve your cash flow. Outsource all or part of your check and paper payment processing; you can even choose to receive payments at your location. As one of the industry’s leading providers, we are continuously investing in our nationwide Lockbox+ operations to better assist you with both digital and paper payment processing.
Deluxe’s Lockbox+ solution helps banks and their customers grow. With Lockbox+ technology and service, your bank can process paper receivables efficiently, accurately and cost-effectively. Flexible deployment options and innovative receivables solutions allow you to streamline your operations, differentiate your Lockbox offering and add new revenue streams while maintaining full control of your valued customer relationships. With one of the largest national networks of payment processing centers, we process 500 million transactions annually.
Features & Benefits
HOW IT WORKS
Payments and customer remittance documents are sent to the mailing address on the invoice which is operated by your preferred lockbox service provider.
Each payment is processed and scanned along with the remittance document while originals are discarded/destroyed.
Processed payments are posted and applied to the business bank accounts.
Reports are redistributed, posting files are transmitted and data/images are sent to the online archive.
testimonials
Discover how, with 2.3 million accounts, American Honda Finance Corporation leverages Deluxe’s retail lockbox services. By partnering with Deluxe, they have streamlined mail handling, enhanced resource management, and freed up real estate and staff, improving customer service and payment efficiency.
Listen to how Deluxe’s Lockbox helps financial institutions like Arvest Bank boost efficiency for their customers while reducing manual work for themselves. Lockbox has helped financial institutions increase sales, attract new clients, and strengthen existing relationships.
RESOURCES
FAQ
Handling paper payments with outdated tools or manual processes can strain internal resources, increase business risk and delay cash flow. Deluxe’s Lockbox+ services equip you with the best-of-breed technology and service you need to process your paper receivables efficiently, accurately and cost-effectively. We excel at long-term, collaborative relationships that keep you in control and empower your organization.
Our Lockbox+ service is best for financial institutions and enterprises with more than 10,000 transactions per month. We manage receivables with volumes of more than 1 million transactions per day.
Yes, Lockbox+ is just one part of our Receivables+ Suite platform, a cutting-edge solution that helps you automate cash application across all your paper and digital payment types. It’s easy to connect your Deluxe Lockbox+ feed to the platform. You can aggregate your check payments with your electronic receivables data for a 360-degree view that strengthens business decisions., a cutting-edge solution that helps you automate cash application across all your paper and digital payment types. It’s easy to connect your Deluxe Lockbox+ feed to the platform. You can aggregate your check payments with your electronic receivables data for a 360-degree view that strengthens business decisions.
Our flexible service model lets you create the ideal workflow for your business. Choose from fully outsourced – where we handle scanning, deposits, archiving and creating a posting file – to hybrid options, where your company manages some or all of the intake process and leverages our robust software.
Yes, in fact, only Deluxe offers end-to-end digital cash application for unprecedented settlement speed and cost savings. With the Deluxe Payment Exchange Network, you’re connected to millions of businesses that issue checks digitally, eliminating the need to open and scan payments., you’re connected to millions of businesses that issue checks digitally, eliminating the need to open and scan payments.
With remote lockbox, a business or bank branch uploads payment and remittance data and images to the lockbox, rather than scanning all checks directly at the lockbox.
With a remote deposit capture lockbox solution, businesses receive check payments at local offices, in the field, or a company P.O. Box, then use a desktop scanner to capture and transmit those images to the lockbox provider.
A retail lockbox service is available for businesses (the biller or payee) that receive payments from consumers (payers). This service handles high volume payments that are presented in a consistent format – payment with a remittance stub. Most often these payments are machinable.
Wholesale lockbox services are for B2B payments; businesses that receive payments from another business. This service handles a lower volume of payments with a high dollar value but often the payments are inconsistent in format. These payments may require manual data entry.
Wholetail lockbox is a combination of wholesale and retail lockbox services. A wholetail lockbox service accepts both consumer and business payments.
