eLockbox Our eLockbox service helps streamline receivables processing and speed up customer payments.

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eLockbox Details

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.

Our team is available to help you streamline your operations.

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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 our article: Streamline Consumer Payments With Electronic Lockbox Services & Cadence Bank

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