If your business receives a large or small number of checks and remittances accompanied by payment coupons or billing forms, our Lockbox service can help reduce the capital, time and people resources spent processing those payments.
Our Lockbox service does all of the work and provides you with a daily Summary Report of all received payments. We will provide you with a Daily Posting file that can be uploaded to your business software each business day. This will help you create a permanent record of your activity.
Our Lockbox service can help you:
- Maximize the availability of funds normally tied up in a slow, labor-intensive process
- Gain valuable accounting information
- Achieve superior cost/benefit potential
- Improve record-keeping and financial controls
For more information please contact the NYCB Cash Management Department at (877) 353-7631.
Requires separate application or agreement. For further information, please contact the NYCB Cash Management Department at (877) 353-7631. Offer may be withdrawn at the discretion of the bank at any time.