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Lockbox Services

Save time and money by effectively managing your receivables.
Choose from Wholesale (Corporate-to-Corporate) or Retail (Consumer-to-Corporate) Lockbox options to automate and accelerate your account receivable processing.  Our completely imaged Lockbox solution accurately collects, processes, and deposits check payments to the bank.  This solution will help your company streamline receivables and increase efficiencies.

Features:

  • Eliminate manual processing.
  • Reduce collection processing time.
  • Improve cash flow. 

A member of our Business Services Team can help evaluate the right lockbox solution based on the type and volume of payments you receive.

Wholesale Lockbox - Morton Community Bank offers innovative services designed to assist you in managing your corporate-to-corporate daily accounts receivable position. This advanced receivables solution accepts checks and credit cards and consolidates them for efficient reporting, payment application, and information management.

A Morton Community Bank Wholesale Lockbox solution allows you to channel payments through a processing center, while receiving funds through one centralized account to facilitate cash flow management.

Retail Lockbox - If your company receives a large volume of customer payments with scannable coupons, processing those payments and updating customer accounts can be a labor-intensive process. When you establish a lockbox with Morton Community Bank, your customer payments will be processed through our partner center. We employ advanced technology to speed processing and funds are automatically routed into one central Morton Community Bank account to help you effectively manage your cash flow.

Not only can retail lockbox save you time and reduce your costs, but also minimize remittance float and provide one integrated image-based stream of cash application data. Moreover, the timely and accurate data available online will help you update account records quickly and provide even better service to your customers.

Ready to learn more? Please email the Business Services Team 
at businessservices@mortonbank.com or call 309-284-1293.