Lockbox Check Truncation

Lockbox Check Truncation converts paper checks, received in the mail or at a drop box (P.O. Box) into an electronic transaction.  

Candidates for lockbox services are any Business or Municipality that receives checks in the mail.  Utility companies, insurance agencies, subscriptions, newspaper publishers, hospitals, credit card companies, etc.  Lockbox truncation cuts the costs associated with receiving, processing and depositing these checks by turning the check into an electronic transaction.

• Check is received in the mail by your company
• Checks are then scanned and imaged using our Windows based desktop application.
• This information is then batched,  sent through the ACH Network to the checkwriters bank, where it is debited and credited to your account.

As a user of our lockbox solution, you benefit from:

• Notification of NSF and Closed Account checks within 48 hours instead of 7 - 10 days
• 24/7 Internet reporting
• Real funds within 48 hours
• Reduced handling costs
• No bank deposit fees
• No returned check charge, usually $3.50 - $7.50 per check
• Make deposits from your office, not the bank window