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Our lockbox processing helps to reduce mail and processing float. With our Wholesale and Retail Lockbox processing, you can improve the efficiency of receivables processing and receive same day image availability of processed items.
- Quicker access to cash.
- Automated receivables posting
- Improved receivables reporting
- Reduced overhead costs
How It Works:
- Your customers mail their payments directly to a unique post office box.
- Republic Bank picks up the mail directly from the post office, reducing your mail float. We currently maintain addresses at the main post offices in Louisville and Lexington, Kentucky.
- We prepare the checks for deposit, reducing your processing float.
- Finally, we credit your account, reducing your availability float.
- Click here to see a closer look at our Lockbox Processing
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.