Lockbox Services

Improve Your Cash Flow

Why have your customers send payments through an out-of-state P.O. Box? As one of the few remaining banks to offer Indiana-based lockbox services, Salin Bank's lockbox solution lets your business collect and process incoming payments more efficiently and access funds faster. In addition, you'll improve your cash flow while also saving time and money.
 

How It Works

Salin Bank maintains courier runs to the U.S. Post office to retrieve and process mail daily, Monday through Friday. Mail is opened in a secure, controlled environment and sorted by payments, remittance information, and correspondence. Correspondence, remittance documents, and deposit information are scanned and provided to you daily via our Lockbox Online portal the same day it is received. Salin Bank also can customize reports and prepare a transmission file of your payment details, so that you can directly update your records.
 

Watch to learn more about Lockbox Services
 

 

Benefits

  • Improves staff productivity by automating manual processes.
  • Streamlines processes that may lead to reduced expenses.
  • Reduces deposit preparation, so your company staff can focus on other tasks.
  • Accelerates collection and posting of receivables so funds are available more quickly.
  • Decreases potential for theft, fraud, and error by reducing the number of employee “touches” on each transaction.
  • Speeds up remittances and improves overall cash flow.

 

To learn how Lockbox Services can benefit your business, contact a member of our Treasury Management team today at 800.320.7536, ext. 8035 or treasury.managment@salin.com.