Lockbox Services

When you use Bankers Trust’s Lockbox Services to deposit receivables into your bank account for collection, you enjoy the following benefits:

  • Giving staff more time to focus on your core business.
  • Faster collection of funds because mail and processing float is minimized and reduces days of sales outstanding.
  • Improved audit control through third-party processing, which provides a separation of duties and increased security.
  • Automated updating of accounts receivable data via electronic transmission of data.

What is a Lockbox?

Lockboxes make it easier for businesses to collect on their accounts receivable. A bank or financial institution will set up a specific address for the lockbox where the business’s customers can mail any payments to. The bank can then easily process these payments on the business’s behalf.

Lockbox Options

Retail Lockbox
Automated, high-speed processing using a scan line or bar code on the remittance document 

Wholesale Lockbox
Designed for lower volume, higher dollar payments from businesses

I-View Portal
A Web-based system that allows you to view reports, remittance documents, and customer checks

Bill Payment Consolidation
Electronically receive Internet Banking and other remotely initiated electronic payments in a single consolidated file. e-Lockbox customers receive benefits such as:

  • Fewer paper checks received.
  • Consolidation of bill payment providers into single file and single deposit.
  • Immediate availability of funds
Remote Lockbox Capture

Our Remote Lockbox service enables you to have multiple remote lockbox capture sites. Remote Lockbox service offers your remote locations to scan and securely transmit lockbox batches and corresponding remittance documents to a centralized lockbox location for processing. Combining traditional Lockbox processing with a Remote Lockbox service solution creates a single point of process for reviewing and accepting payment transactions. 

Remote Lockbox customer receive benefits such as:

  • Saves time and money, but also makes the overall operations more efficient. 
  • Customers gain quicker access to their funds while improving cash flow to the business. 
  • Reduced paper handling. 

Healthcare Remittance
Healthcare revenue cycle management solutions is an add on to our traditional lockbox services and will automate the remittance and posting process by converting paper and electronic Explanation of Benefits (EOB) documents into standard electronic posting files. Healthcare Remittance service offers the following benefits:

  • Improve your remittance operations for EOB conversion, reconciliation and balancing.
  • Fully outsourced offering to improve control of the entire process.
  • Cycle time reduction for payment posting.

How It Works

  • A unique post office box is opened to receive your customers’ payments.
  • Bankers Trust will pick up mail daily, process it according to your instructions, and deposit the checks to your account the same day.
  • Remittance reports, data files, and document images are available same day, to allow for update of your accounts receivables system.

Business Resource Center

Online resources to help with your business’s financial needs, including:

  • Check and Deposit
    Ticket Ordering
  • Fraud Prevention Information
  • Federal Reserve Information
  • FDIC Guidance and Coverage
  • NACHA – Electronic Payment Information
Learn more
Lockbox Services | Bankers Trust