eLOCKBOX

eLockbox is an add-on service available to clients already using our lockbox solution. It’s designed to convert incoming check payments—originating from tenants, residents, or customers who use their bank’s online bill pay service—into secure ACH transactions.

How It Works:

When a payer selects your business name from their bank’s bill pay website, they are prompted to enter the necessary remittance information (such as account numbers, invoice details, or customer identifiers). Instead of mailing a physical check, the bank’s bill pay provider sends the payment electronically via ACH.

eLockbox captures the remittance data submitted during the bill pay setup and ensures it is properly applied to your receivables. These ACH transactions are included alongside your traditional check payments in your daily posting file, allowing for seamless reconciliation and reporting.

Key Benefits:

• Faster Settlement: ACH payments clear more quickly than mailed checks, improving cash flow.
• Accurate Remittance Matching: Captures payer-entered data for precise application to customer accounts.
• Operational Efficiency: Reduces manual check handling and posting errors.
• Unified Posting: ACH transactions post together with your incoming checks in your daily lockbox file.