Image Wholesale Lockbox

Looking for a flexible treasury management system that processes your customer payments more efficiently? Look no further. The UMB Image Wholesale Lockbox provides the expanded processing times and flexible reporting options you seek.

We work closely with you to design a lockbox service that specifically meets your needs, giving you complete confidence that your deposits will be timely and your payments will be processed without disruption to your accounting system.

How It Works

Your customer payments are redirected to a new post office box accessed by UMB. We make frequent trips to the post office to pick up your items. Our pick-up schedules are designed to minimize mail float. Due to the frequency of our trips to the post office we are able to significantly improve your ability to access your funds as quickly as possible.

Once the items reach our lockbox processing center, the mail is sorted, envelope contents are removed and checks are deposited. Our focus is on getting the checks into the collection process as quickly as possible. We process the items according to your specific operating instructions.

Copies of all checks and accompanying documents can be returned to you.

Features

  • UMB’s lockbox locations offer Image Wholesale Lockbox. Checks, as well as accompanying documents, can be imaged before returning the information to you. Your items are available for viewing the very same day via the Internet. We can also provide remittance information on a CD-ROM.
  • Through UMB's automated lockbox system, we can also provide data entry functions to expedite the posting process. You provide us with the information you need to update your receivables system and we key enter that data and transmit it directly to you to update your records.
  • For our clients already using an internal image workflow system, we can transmit a file with the images we processed to import into your system.

Benefits

  • Lockbox processing helps reduce your administrative costs, so you save on salaries/benefits, training, space and equipment.
  • With UMB picking up the mail multiple times a day and ensuring same day deposit of those items, your money is available to you more quickly.
  • In addition to gaining greater accuracy and reliability, you also reduce the risk of loss, theft or forgery.
  • Utilizing a UMB lockbox frees valuable time and resources to post payment and receivables, as well as other important tasks allowing you to better utilize your staff.
  • Lockbox processing automates and streamlines corporate finance, accounting, posting of cash to accounts receivable and customer service operations.

For more information, contact us via phone or e-mail or visit any UMB banking center.