Wholesale Lockboxes

How Wholesale Lockboxes Work

Wholesale lockbox services allow you to streamline receivables. Wholesale lockboxes are best for organizations that process a small volume of payments. Because these payments may be high dollar items, getting the money in your system quickly is essential. A good lockbox service can help keep costs down while keeping collections as quick as possible.

How it Works

Your customers or business partners send payments directly to your wholesale lockbox, which is a special Post Office box that bank representatives have access to. The bank collects payments and credits them to your account much more quickly than you could do on your own.

By getting those large payments into the bank quickly, you have more money to work with on a daily basis. This helps you minimize debt costs and keeps funds available for your business’ needs.