Make deposits without ever
opening an envelope.
At Southbridge Savings Bank we know that your company's time is valuable. That's why we look for products that can help to improve your efficiency by saving time and energy on functions that are repetitive. We are pleased to offer our customers a lockbox service for automatic accounts receivable payment processing.
The lockbox service allows the bank to pick up your customers' remittances that are delivered to a unique P.O. Box. Once received, it is opened, sorted and the data is captured. At the end of the day, a deposit is made to your account.
This service is perfect for both small and large companies. There are no set-up fees and the service is competitively priced. It is flexible and has state-of-the-art processing. Online images of the remittance check, envelope and any correspondence are captured. Balancing is performed to your instructions.
Mail is picked up and processed every business day. Customers receive an automatic report so there is no delay of information. The web-based technology allows customers access to all payment data and images, and allows you to search transactions by captured data field. You can choose event notification through e-mail, fax, text messaging or all of the above!
Each piece of mail is opened, extracted, sorted and processed to your instructions.