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Lockbox Processing - Retail
Wholesale Lockbox processing is for companies with low-volume incoming payments. It helps eliminate the costs of in-house processing, while freeing your staff for other needs.
Your customers mail their payments to your assigned individual post office box, and Republic Bank takes it from there. We pick up the payments, separate them from any remittance advice, inspect checks for negotiability and acceptability, attach check copies to corresponding remittance, total and prepare checks for deposit, and credit them to your account.
Sorting and bundling of your lockbox account is fully customizable to your needs. We can deliver to your business by mail or by courier. We can produce detailed reports including customers, invoice numbers, dollar amounts paid and more-whatever you need to meet the needs of your receivables processing.
- 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.