Features / How Does It Work:

• Remittances are mailed in your company’s name to a special P.O. Box maintained at the main Post Office station by Bank7.
• The bank picks up the lockbox mail each business day and the work is pre-sorted and staged for processing.
• Checks, invoices, and other remittance items are captured, imaged, and all necessary data from each transaction is keyed to our lockbox database. This operation provides your company with customized processing that is tailored to meet your needs.
• A daily deposit is made to your account if lockbox items are received.
• With online image access through the Bank7 Lockbox Online site, you will have immediate access to your invoices, correspondence, and check payments.

Benefits:

• By reducing check-clearing float, your funds are made available more quickly to minimize borrowing needs and/or maximize investment returns.
• Bank7 can provide files of your transactions in a standard CSV format to automatically update your Accounts Receivable system.
• Deposit Report, downloads, and images of checks and invoices are available through Bank7 Lockbox Online.
• Each lockbox account is assigned to one of Bank7’s professional staff members who become familiar with your unique processing specifications.