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We can turn your receivables into cash - fast. Our Wholesale Lockbox services will speed the collection of your remittances, while significantly reducing your current mail, processing and collection float.
- Reduce Mail Float - Remittances are mailed to a special post office box accessed by First Bank throughout the day.
- Reduce Processing Float Clerical Expense - We open the envelopes, sort all items, photocopy checks, make deposits to your account, and send the contents, invoices, photocopies and all correspondence to your company.
- Receive Timely Deposit Information - Our Business Online Banking service allows you to access your account to obtain daily lockbox deposit totals.
- Improve Audit Control - By separating the invoicing and receivables function, you benefit from improved audit control.
To find out more about our Wholesale Lockbox, contact your First Bank Treasury Management Officer. New to First Bank? Contact the Treasury Management Officer nearest you.
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