Lockbox Services
Centralize & Streamline Mailed Payments
Our state-of-the-art, centralized, automated process ensures your mailed receivables are processed - and deposited - the same business day.
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Safe, Secure & Efficient Processing
Save time and increase cash flow by outsourcing the processing of mailed payments to First PREMIER Bank. Our Lockbox Services solution automates the receipt, processing and deposit of checks sent via regular mail, saving time and reducing error and risk.
Lockbox Features & Benefits
Features:
- Centralized processing reduces mail float
- Accept standard and legal format checks
- Conversion of eligible checks to electronic transactions to speed collection
- Same-day check processing and deposit
- High-quality check imaging and archival
- Integrated reporting
Benefits:
- Faster processing for improved cash flow
- Reduced risk of theft and fraud
- Decreased potential for manual error
- Improved productivity and efficiency
- Reduced days outstanding on payments
- Quicker and highly accurate posting
How Lockbox Services Work
First PREMIER Bank centralizes payments to a single post-office box and makes daily, strategically timed collections. We immediately process incoming payments using a proprietary, automated process - opening mail, processing payments and depositing funds swiftly and securely into your account. Paper checks are securely imaged, archived and then shredded for securely disposal. Deposits are made the same business-day they are received in a fast, accurate manner.
Get Started Today!
We excel in helping businesses do the heavy lifting. Contact a Business Banker to find out how
First PREMIER Bank can help you grow.
