Does your company need a more efficient method for managing incoming payments? Rocky Mountain Bank's Lockbox Services can help.
What is Lockbox?
A service provided by the bank to a company for the receipt of payments from customers.
How does Lockbox work?
- Payments made by your customers go directly to a special P.O. Box, instead of the company.
- Rocky Mountain Bank picks up the payments at the P.O. Box, securely transports them to the bank where they are processed and deposited.
- The deposits go directly into the company's bank account.
- Provides an electronic reconciliation file that the company uploads directly into their own accounting software.
- Funds are deposited the same day they are received.
- Reduces labor expense.
- Company doesn't need to go to Post Office, open and sort envelopes, travel to the bank to deposit checks, or manually enter payments into their accounting software.
- Eliminates physical storage.
- Images are archived on a web portal where the company can view and easily research images of deposited items and payment coupons.
To request pricing information visit one of our branches, or contact a Rocky Mountain Bank Customer Service Specialist at (888) 362-7621 for more details.