Our eLockbox service helps streamline receivables processing and speed up customer payments.Contact Us
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:
- Payments initiated: Customers initiate payments through their online banking or other bill pay websites.
- Payments consolidated and routed: eLockbox consolidates payments and generates a data file in your desired format. Payments are either routed automatically or pre-processed.
- 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 our article: Streamline Consumer Payments With Electronic Lockbox Services & Cadence Bank