If your company receives payments through the mail, you may be able to save significant time and
money by allowing First PREMIER Bank to handle the entire process for you. First PREMIER's high-speed
lockbox equipment automatically opens all payment envelopes, matches remittance stubs/payment
coupons to checks, converts checks to ACH transactions where possible, prepares checks for deposit and
an electronic file for posting of payments to customer accounts. Benefits of our Lockbox Services include:
- Reduce mail float by having receivables mailed to a special post office box accessed by First PREMIER Bank
- Improve staff productivity by automating the process of opening envelopes, sorting payments and making deposits to your business account
- Ensure quick and accurate posting and reporting of receivables
- Decrease potential for theft, fraud and error by reducing the number of employees accessing each transaction
- Convert eligible checks to ACH transactions for improved collections
First PREMIER's Lockbox Service processed more than 7 million payments last year and all payments
were processed the same day they were received.
To make managing your business even easier, you may want to consider the following products
and services:
Contact us for more information.