Want to remove the entire deposit processing function from your office and get your deposits to the bank faster? Venture Bank offers a variety of Lockbox services to improve your cash flow, while delivering the remitter and payment information that you need for your Accounts Receivable system.
Whether your needs and volume are relatively limited or more complex, we can help you design a Lockbox service that fits your company’s needs.
Wholesale Lockbox is designed for lower transactional volume. It allows you to eliminate the entire deposit receipt, preparation, and depositing process from your office, which can save you overhead expense.
Retail Lockbox service is designed for larger transactional volumes, where remitter coupons accompany payments. We have the technology and expertise to customize your reports and data, saving you time and money.
Need a level of service that falls between Wholesale and Retail Lockbox? We can to design a solution that meets your specific needs, including scanning accompanying payment information, for instance. Contact an Account Executive for more information.
In addition to processing your deposits, we can also customize the information that we provide to you via your Cash Management Online Banking. All lockbox customers receive a daily Remitter Report (in PDF format), which details invoice and payment information. In addition, you can elect to also receive the following information:
- Check Images
- Coupon Images
- Check and Coupon Images
- Invoice and payment detail in a formatted file, which can be uploaded into your accounts receivable system
- Images of Scanned Invoices
- Images of other documents received
If you would like to learn more about how Lockbox Services can benefit your business, please contact an Account Executive at one of our locations.