Banking for Businesses > Cash Management Solutions
Lockbox Services
Streamline your receivables with automated payment collection, processing, and posting. Choice Bank’s Lockbox Services help businesses reduce administrative burden, improve cash flow, and gain more control over their receivables—all while ensuring accuracy and security.
Why Lockbox?
Faster, More Efficient Processing
Accelerate payment posting and eliminate time‑consuming manual workflows with automated, streamlined processing.
Accuracy, Security & Compliance
Ensure precise data capture and secure handling of sensitive financial information with established, audit‑friendly controls.
Flexible & Scalable Solutions
Choose from configurable features and add‑ons that adapt to your business model—whether you’re growing, centralizing, or modernizing receivables.
Customizable Add‑On Features
Enhance your Lockbox experience with powerful modules and integrations.
Client Decisioning Module (CDM)
Empower your team to resolve payment exceptions quickly and independently through a secure, user‑friendly portal.
- Ideal for: Teams that frequently encounter payment exceptions and want faster resolution without waiting on Lockbox operator intervention.
- Value: Reduces delays, improves control, and speeds up exception handling.
Custom Accounts Receivable (A/R) Posting File
Receive payment data in a format designed to integrate directly into your accounting or ERP system.
- Ideal for: Businesses that want seamless integration with their existing A/R platform to eliminate manual data entry.
- Value: Minimizes errors, reduces reconciliation time, and accelerates cash application.
Direct Transmission of Reports
Gain real‑time access to remittance data, deposit summaries, and reports through secure transmission protocols.
- Ideal for: Organizations with strict audit requirements or teams needing timely financial insights delivered directly to internal systems.
- Value: Improves reporting efficiency and ensures timely visibility.
Stop Files & Account Look‑Up Tools
Prevent unauthorized or duplicate postings with automated controls that verify account details against predefined lists.
- Ideal for: Companies looking to reduce risk and enforce payment acceptance rules automatically.
- Value: Enhances fraud prevention and supports compliance.
eLockbox — Convert Paper Checks to Electronic Payments
Convert paper bill‑pay checks into electronic payments—speeding up deposits and reducing manual processing.
- Ideal for: Businesses receiving high volumes of bill‑pay checks who want faster funds and lower handling costs.
- Value: Improves cash flow and reduces physical processing steps.
Credit Card Processing
Accept credit card payments as part of your lockbox workflow. Customers simply write card information on their remittance; Lockbox operators securely process transactions.
- Ideal for: Companies that want to expand payment options—especially where customers prefer paying invoices by card.
- Value: Boosts convenience and speeds up payment collection.
Mail-Out Services
Access physical copies of processed items when required by your records, compliance, or internal workflows.
- Ideal for: Teams that must retain original documents after processing.
- Value: Ensures you maintain necessary physical documentation without added handling.
Nationwide Processing Locations
Multiple processing centers across the U.S. provide faster mail delivery and operational redundancy.
- Ideal for: Companies with customers nationwide who want to minimize mail float and ensure business continuity.
- Value: Accelerates receivables and enhances reliability.
Ready to Modernize Your Receivables?
Our Cash Management Team is eager to meet you and discuss ways to help you run your business more smoothly.