Wholesale and Retail Lockbox Services

Lockbox services help increase your company’s cash flow for investment purposes by streamlining collection of remittances and receiving accurate, timely information about your accounts receivable. Through this seamless process, we will receive, process and deposit your mail receipts, then capture the information electronically and transmit it to you each day. All checks are imaged to ensure an accurate audit trail. Bank of the Cascades offers two types of lockbox services: Wholesale, and Retail.

Wholesale Lockbox
Wholesale lockbox services are ideal for businesses that have low volume, high dollar accounts receivables that need to be matched to specific invoices.

Features and Benefits

  • Save time: collection and processing float is minimized
  • Improve your funds availability
  • Obtain accurate information about payments received
  • Gain web access to images and timely reporting
  • Save money on internal bookkeeping expenses
  • Gain better control of resources – this service segregates accounts payable and accounts receivable functions

Retail Lockbox
Retail lockbox processing captures and images all items for easy, timely reporting and research purposes. These services can be customized to meet your specific requirements with file and coupon creation unique to retailers.

Features and Benefits

  • Save processing and mail float time and expenses
  • Improve your funds availability
  • Utilize online payment and exception processing options
  • Gain web access to images and timely reporting
  • Obtain accurate audit control
  • Gain better control of resources – this service segregates accounts payable and accounts
    receivable functions
  • Enjoy continuity of service

How Lockbox Services Work: The Basics
Services are offered through a third party vendor, Retail Lockbox, Inc. (RLI). Business payments are picked up at a lockbox address and delivered back to RLI via courier. Transactions are processed and imaged creating a computer file detailing payment information. The file is transmitted to your business for posting to your accounts payable system. Images and transaction detail is made available for research via a web reporting service. Deposited items are electronically sent to Bank of the Cascades’ item processing department via a secure medium. Funds are then deposited into your specified business checking account. Any correspondence and “return work” not imaged is returned per your instructions.

*Note: There are fees associated with these services. Contact your Treasury Solutions Officer or Customer Service for details. Or, visit your local Bank of the Cascades branch and ask for a Schedule of Fees for the most current pricing.

For more information, please contact your local branch or our Customer Service at 541-617-3500 or 877-617-3400.