Lockbox service is one of the banking services that businesses of all sizes may find useful. Essentially, a lockbox is just a simple post office box that your bank establishes for your business and that is controlled by the bank. You are issued a remit to address by which your customers will be allowed to send payment for all invoices issued by your organization directly to the lockbox. In turn, all correspondence will be opened by your bank, it will deposit the checks into your accounts, and provide you with electronic access by which you will be allowed to see daily activity.
Advantages of Lockbox
Security
To securing a lockbox for your business there are several advantages. One of the most important advantage is security. Generally, lockboxes are protected above and beyond the usual security measures that are associated with having a post office box. When a payment reaches your lockbox then the chances of it falling into the wrong hands is zero.
