What is a lockbox?

Answer A lockbox is a service aiming to provide a faster, more economical banking system for businesses engaging in large amounts of deposits. This service takes advantage of available post services to in... Read More »

Top Q&A For: What is a lockbox

What is a financial lockbox?

A financial lockbox is a check scanning device that allows users to electronically transmit check images and related information quickly via a secure remote transmission for fast and safe delivery ... Read More »

What is a bank lockbox?

With a bank lockbox, a business directs its customers to mail payments to a post office box that the business' financial institution or bank monitors. The bank takes all incoming deposits and depos... Read More »

What Is a lockbox deposit?

A lockbox deposit is a service offered to companies by banks. Businesses that receive numerous payments from customers by mail that go to a post office box, such as cable TV franchises, allow the b... Read More »

What Is a Lockbox Payment?

The National Check Fraud Center reports a lockbox payment is a cash flow improvement initiative used by companies who receive payments through the mail from a large number of customers. Couriers fr... Read More »