Lockbox Services

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.

Why Lockbox?

  • 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.

 

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