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Minimize collection float and maximize funds availability with our wholesale and retail lockbox services. Our cost-effective services rapidly turn your receivables into cash and provide you with timely and accurate reporting information. Using sophisticated technology such as our unique zip code, around-the-clock mail pickups, aggressive availability schedule, and advanced imaging capabilities, your incoming payments move quickly into your accounts and are available for immediate viewing on our secure CashPro® site.
Wholesale Lockbox
Regardless of your company’s size or payment volume, you can benefit from our Wholesale Lockbox services. Customer payments are quickly deposited into your Bank of America account and posted to your accounts receivable system, helping reduce your day’s sales outstanding.
Receive remittance detail and view images on a CD ROM or online through CashPro, which provides centralized access to receivables information. CashPro Receivables not only provides reporting, but allows you to manage your images and data by providing advanced search parameters, tracking tools, and distribution options, which allow you to improve cash application and gain greater efficiency.
Retail Lockbox
Quickly turn your consumer payments into cash with our Retail Lockbox services. Using sophisticated technology our services handle all your processing needs from single payments to single payments with correspondence, to multiple check or coupon payments. Remittance detail and images are available on a CD ROM or online through CashPro, and can be easily navigated with enhanced keyboard functionality and dual screen capability. Advanced imaging and reporting capabilities help simplify your day-to-day processes, while providing you with comprehensive information essential for efficient cash application.
Benefits:
- Flexibility – Generate online listings of every payment received by check amount, check number, invoice number or other criteria you select. Manage images and data to fit the needs of your company.
- Timeliness – View current-day float breakdown and availability information online.
- Efficiency – Receive a single electronic file of every payment received. We can merge remittance information from all payments into one consolidated electronic transmission.
Credit Card Collections
Expedite your credit card collections, improve cash flows and reduce internal processing costs by accepting credit card payments through your lockbox. We'll perform authorizations and settlement on these transactions on the day of receipt – accelerating the conversion of your credit card receivables into usable cash.
Benefits:
- Competitive Edge – Offer your customers an additional, convenient payment method.
- Improved Cash Flow – Accelerate credit card processing.
- Cost-Effectiveness – Reduce in-house expenses by eliminating rental fees on credit card processing equipment.
- Efficiency – Streamline your collection processes through our lockbox services.
- Timely Information – Receive a detailed listing of each day's credit card transactions via fax, transmission or hard copy report.
CashPro and Bank of America are registered trademarks of Bank of America Corporation.
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Privacy & Security | Terms of Use
© 2008 Bank of America Corporation. All rights reserved. Bank of America,
N.A., LaSalle Bank N.A., and LaSalle Bank Midwest N.A. Members FDIC.
Equal Housing Lenders. Equal Opportunity Lenders.
PLEASE NOTE: LaSalle products may not be able to be serviced at Bank of America banking centers or through BankofAmerica.com until late 2008. |
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