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Turn Receivables Into Cash
Simplifying collections and payment processing.
Webster Bank’s Lockbox Services is an automated process that helps businesses collect payments more effectively. Payments are routed directly to a post office box where they are collected, verified, imaged and deposited. Solutions are also available to help you streamline and accelerate electronic payment processing.
Lockbox Services
If your business spends a lot of time and money handling a large volume of incoming checks, Lockbox Services can add value. You’ll be able to outsource payment collection and processing, and deposit customer payments more quickly and efficiently saving you time and money while improving audit controls and data accuracy.
Remote Lockbox
With Remote Lockbox, you can streamline your receivable process while retaining control of payment processing. Receivables processed and scanned in your office are merged with your post office receivables and presented in a consolidated Lockbox file transmission. It eliminates the need to forward payments to a Lockbox, reducing mail float and expense. You can use this service to complement an existing Lockbox application or as a stand-alone solution.
Healthcare Lockbox
Designed specifically for healthcare providers and institutions, Webster’s Healthcare Lockbox solution is a powerful payment and claim processing system. By automating your insurance and patient payment process, you’ll be able to streamline payment collections and access funds faster. it allows you to focus your time and money where it matters most- patient care.
Lockbox Services Benefits
Streamline Deposits
Choose a retail or wholesale lockbox service that will establish a unique mailing address to receive payments from your customers and partners. The service picks up your incoming mail from the lockbox and retrieves payments multiple times per day. At Webster’s secure processing center, the mail is opened, contents and checks are scanned, and all funds are deposited into your account. You receive a file of the day’s remittances and can access the data online on the same day it was processed.
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