Skip to main content

eLockbox Service

Cadence Bank's Electronic Lockbox service helps streamline receivables processing and speeds up customer payments.

eLockbox Service

If your company receives checks from banks or third-parties on behalf of your customers, you know the inefficiencies they can present. Inaccurate account information and labor-intensive processing can delay posting and lead to customer service issues. Sound familiar? Cadence Bank Electronic Lockbox service might be a good option for you.

 

Rather than allowing these transactions to become slow moving bill pay checks, eLockbox consolidates the payments and delivers funds and posting data to you electronically – posting data that is integrated with your Lockbox data file. The result is fast, straight-through processing that maximizes efficiency.

 

How eLockbox Works:

  1. Payments initiated: Customers initiate payments through their online banking or other bill pay websites.
  2. Payments consolidated and routed: eLockbox consolidates payments and generates a data file in your desired format. Payments are either routed automatically or pre-processed.
  3. Payments deposited and data delivered: Funds arrive in your company’s bank account via a single ACH daily deposit. Data is delivered to you in your desired format for easy, accurate posting.

 

Benefits of eLockbox Banking

With our commercial electronic payment collection, you can streamline payments made through online banking and other bill pay websites using a fast, straight-through processing solution. In addition, you’ll benefit from the following features:

 

  • Fast: gives you quicker access to funds; payments are transferred directly into your company’s bank account via a single daily ACH deposit
  • Easy: allows you to make corrections when inaccurate account information is provided and assign payments to be automatically routed in the future
  • Accurate: delivers payment information in your desired format for easy, error-free posting
  • Economical: provides a more cost-effective solution than manually processing bill pay checks or utilizing a standard lockbox service

 

Read more on eLockbox and how the service can streamline consumer payments and accelerate payment collection.

 

If you want to learn more about how Cadence Bank’s eLockbox services can help your business, contact a Cadence Treasury Sales Specialist today.

 

If you wish to make electronic deposits, learn more about our Remote Deposit service.

 

Contact us




Questions? We are here for you...

To ensure your safety, please do not include sensitive information in your submission.