What is a lockbox account?

Answer A lockbox account is a type of banking service available to businesses, and it is typically used by those that are large in size. In exchange for providing the service of a lockbox, banks generally... Read More »

Top Q&A For: What is a lockbox account

What is a lockbox?

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 »

What is a lockbox clerk?

A lockbox clerk is a junior level employee found within financial services institutions. Working in the mail room, these individuals collect all deposits that have been made via mail, processing th... 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 »