Business Lockbox Options
ICCU offers Business Lockbox options for businesses to streamline their accounts receivable process with simplicity and ease. These services increase efficiency, save money, and reduce errors by eliminating the need to manually process payments. With Retail, Wholesale, Wholetail, and Electronic Lockbox options, ICCU is prepared to help your business grow no matter what your needs are. Let’s work together and see your business thrive!
Retail Lockbox
Retail Lockbox is best if your business relationships are with individuals (the bill payer), your transaction volumes are higher, and payment amounts are smaller on average.
Examples of payments include:
- Patients mailing medical payments
- Taxpayers paying taxes
- Credit card payments
- paying HOA dues
Wholesale Lockbox
Wholesale Lockbox is best if your business relationships are with other businesses (the bill payer), your transaction volumes are smaller, and payments amounts are higher on average.
Examples of payments include:
- Medical clinics billing insurance companies for services
- A business paying for finished goods or materials
Wholetail Lockbox
Wholetail Lockbox is best if your business needs a hybrid of both Retail and Wholesale Lockbox. This is most common when businesses grow and receive and request more payments from customers and other businesses.
Electronic Lockbox
Electronic Lockbox is a great way to keep things digital and online. With eLockbox, your business will be registered with online banking provided specifically for electronic payments.