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Lockbox Processing - Retail
Retail Lockbox processing is for companies with high volume incoming consumer-to-corporate payments. The technology used will help keep your clients processing costs low and allow the automatic updating of their accounts receivables system.
Retail Lockbox processing gives you an automated, virtually error-free platform for processing your companys receivables through the addition of a machine-readable OCR scanline. The OCR scanline puts posting information such as account number, dollar amount, date due and customer name into scannable form. Republic Bank works with your business programmers to electronically submit daily lockbox reporting information, ensuring your receivables are posted promptly and efficiently every single day.
Must have an Analysis Checking Account
Current Lockbox Customers may access www.republiclockbox.com to review their activity.
Need more information? Contact one of our Treasury Management Specialists at 1-866-534-2341.