For businesses looking to streamline receivable processing for paper-based payment processing and to accelerate cash flow, Key Lockbox services provides an automated and efficient way to collect those payments. We utilize a network of sites and accelerated mail collection to support accurate same-day processing, multiple-daily deposits and faster access to your funds. Our lockbox sites are strategically located in Albany, Chicago, Cincinnati, Cleveland, Dallas, Denver, Los Angeles, Pittsburgh and Tacoma.
We streamline collections processes by allowing your customers and business partners to send payments directly to your lockbox. KeyBank collects payments, images and deposits checks and all supporting documentation, and credits check amounts to your account. Funds are received much quicker than those deposited by your personnel—giving you faster access to your funds and redeployment of staff. Payments and data are captured according to your specifications and you receive extensive remittance and deposit information electronically and online.
Key optical-character recognition (OCR)-Scannable Lockbox Services are also available for organizations that receive a large number of check and coupon payments. Start the conversation today by contacting a banker.