When you need high-volume, low-dollar payments processed quickly and accurately, turn to Fifth Third Bank’s Retail Lockbox services. We have sophisticated imaging technology and processing sites uniquely positioned to optimize mail time and decrease float. Our sites operate 24 hours a day, seven days a week to help transform your customer payments into working capital faster. Plus, we provide you with reliable and timely information on every deposit.
How Retail Lockbox services work:
- Direct your receivables to a specially assigned post office box.
- Your mail is continuously retrieved and delivered to the nearest Fifth Third Bank processing center.
- Our high-speed extraction and advanced imaging technology speeds processing time and helps minimize collection float.
- Each business day, your critical receivables information is captured and transmitted with a detailed audit trail.
You can count on:
- Frequent mail pickups—363 days a year—to expedite your access to funds
- Access to specific check images to expedite dispute resolution
- Improved access to accounts receivable data
- Reliable, accurate, timely information on every deposit
- Expedited A/R reconciliation
- Data consolidation across sites
- No more paper receivables in your shop
Find out why Phoenix-Hecht consistently rates Fifth Third Bank Retail and Wholesale Lockbox Network services as a national leader in providing lockbox services. Contact a Treasury Management Officer or a Relationship Manager.
Deposit and credit products provided by Fifth Third Bank, Member FDIC.