Lockbox
Streamline your accounts receivable process with our
Lockbox Services.
At Blue Foundry Bank, we're committed to providing businesses with ways to save time and money, so they can focus on running their business. With Lockbox services, your customer payments will be routed directly to a P.O Box, where they will be processed on your behalf. Not only will you save time on processing, your payment data will also be available to export to a variety of accounting platforms.
Benefits of Lockbox include:
Better Cash Flow
- Speeds up processing time for payments
- Automates and improves accounts receivable reporting
Digital Interface
- Access 7 years of payment information with web interface
- Review, repair, or reject exception items online
Mitigates Risk
- Removes payment processing from the office, ensuring all payments are deposited even if the office is closed
- Decreases potential for theft, fraud or error
- Perfectly complements a remote-only or hybrid office model
Cost Effective
- Reduces the time and resource burden on staff, improving productivity
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