credit card processing, merchant services, merchant accounts, payment systems, merchant processing, payment processing

Remote Lockbox

Image Checks and associated remittance documents wherever they first touch your organization.  Speed cash availability and lower costs.

What is Remote Lockbox?

For years, payment processors believed that truncating payments at a centralized point of capture was the most efficient processing strategy.  With the advent of Remote Lockbox it is both possible and desirable to truncate payments at the point of receipt in the field.  We can now enable merchants to process deposits remotely and capture all information on one system for processing with easy access through the Internet for reporting and archive.  Remote Lockbox by truncating of payments at the point of receipt, is considered the new payment processing model.  With today's advanced technology, equipment, Remote Lockbox has become not only feasible, but cost-effective and efficient.

How Remote Lockbox Works

  • Using desktop check and full-page scanners, coupled with an easy-to-use interface, corporate clients (such as property management firms, insurance companies, mutual funds, A/R software, or medical or dental software) scan checks and documents (such as payment coupons, application forms, invoices) at local offices.
  • Remote Lockbox transmits the digital images, as well as the check and document data directly to the central processing site.
  • In turn, the data is extracted and validated and the check image is then submitted to the customer's bank to clear and deposit the funds with improved availability.

Why use Remote Lockbox?

Remote Lockbox provides a win-win solution for corporations and banks.  Unlike other similar technologies that only transmit check images, Remote Lockbox allows corporate clients to send digital check images, document images, and data directly to a central processing site.  Remote Lockbox provides convenience by eliminating the need to physically transport checks and documents to another location, avoiding shipping delays and lost documents.  It also facilitates the consolidation of deposit accounts, accelerate check clearing and cash flow, reduces management overhead and fees, and improves your reporting.