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National Bank of Arizona

Lockbox Services

National Bank of Arizona's Image Lockbox Service is designed to reduce all aspects of collection float and accelerate your company's remittance procedures and accounts receivable processing. Traditional paper remittance packages are no longer needed - you can now work in a paperless environment enabling your company to view check and remittance document images on the same day that your checks are deposited. The service provides your company with electronic images of all the checks, envelopes, and other remittance documents processed for you in our lockbox operations.

How Image Lockbox Works

  • Your customers are instructed to mail their payments to a Bank-accessible post office box.

  • Early each morning your payments are delivered by Bank messenger to our operations facility where they are processed according to your customized instruction.

  • Check and document images are scanned.

  • Date is extracted from the accompanying documents are you determine necessary, and invoice payments are balanced back to the check.

  • Once processed, the checks are deposited directly into your bank account that same business day.

  • Images and data files of all checks and/or invoices are downloaded on the same day allowing you quick access for viewing and posting processes.

  • Indexed images remain available for viewing through our Image Lockbox web site to help you better facilitate your payment research and customer service needs.

Advantages of Image Lockbox Services

  • Saves time and money. Image Lockbox increases the efficiency of your collection process while expanding your usable cash for investments or debt servicing through the reduction of collection float.

  • Improves receivables and cash flow. Available cash is increased by reducing mail float, check transit float, and internal mail sorting/deposit processing float. Same day credit to your company’s designated depository account expedites receivables processing and accelerates cash flow.

  • Increases staff productivity while decreasing workload.Lockbox reduces clerical labor costs and workload through the elimination of in-house payment processing and deposit preparation while providing an outside audit control. Your staff can view image scans of all checks, invoices, and backup documentation on a daily basis.

  • Indexed information for quick, easy research.Additionally, Image Lockbox retains up to one year of your online images and data retention, and up to seven years of archive retention thus reducing storage costs.

  • Customized processing.Reporting and remittance procedures are customized to meet your company’s specific needs.

  • Customer Service.Each account is assigned to a specific National Bank of Arizona lockbox representative familiar with your particular account needs.

For more information or to schedule a FREE no obligation consultation, call 888.241.5550, email or contact your local banker today.