Lockbox Services
Let Broadway’s trained personnel process your customer payments.Lockbox Services accelerate the collection of your company’s receivables by shortening mail float and reducing processing, and deposit lag time. Your company will enjoy quick access to available funds, as well as the benefits of not processing remittances internally.
Lockbox services are ideal for:
- Wholesale businesses that receive high dollar corporate-to-corporate checks.
- Healthcare providers that receive checks from patients and insurance companies.
- Retail businesses with large volumes of payments.
The Benefits of Lockbox Services
- Increase funds availability—collect your money faster and put it to work sooner.
- Save admin costs—reduce the time and expense of processing remittances in-house.
- Increase internal control—Separate your receivable collection and posting functions.
- Ensure quality—receive optimum quality service from Broadway Bank personnel.
- Increase Leverage with Payers—get information to track the timeliness of payments.
- Automate Reconcilement—receive custom reports and files to integrate directly into your accounting system.
How Does Lockbox Services Work?
- Your customers mail their payments directly to a unique Post Office box assigned to Broadway Bank.
- We will process the items by preparing deposits and making all remittance and correspondence documents (as well as check images) available to you online.
- Access transaction information, document images, data files and print reports through full query capabilities within the iVIEW website.
Contact Treasury Solutions
Contact our Treasury Solutions team today to see how you will benefit from modern banking that’s locally sourced and personally delivered.Easy Solutions
With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.3
Local Decision Making
As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.
Experienced Partner
Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.
Service may require additional agreement and fees.
