Expedite the availability of your company’s funds and the reporting process of its receivables! Our Lockbox service will minimize mail delays and internal processing time. The Bank will designate a post office box in your company’s name and, on a daily basis, collect, process, deposit and report payments made by your clients.

There are two types of services:

• Retail LockBox:

Designed for companies with high volume of payments. This service significantly reduces operating costs and the time it takes to process receivables. Payment information is processed and transmitted automatically to you to update your receivables.

• Wholesale LockBox:

Designed for companies with low volume/high dollar amount of receivables from other companies. Your company will receive detailed payment information through our online information services, on the same day, before 2:30 p.m. Payment information is processed manually.

For more information about our Collection Services, please contact us at Commercial TeleBank at 1-888-756-9130.