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Lockbox Services

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.

Our high-speed remittance processing equipment systematically opens all payment envelopes, matches remittance stubs or payment coupons to accompanying checks, converts those checks to ACH transactions where possible, and prepares checks for same-day deposit with an electronic file for posting of payments to customer accounts.

Benefits include:

  • Reduced mail float by having receivables mailed to a specific post office box managed by First PREMIER Bank
  • Improve staff productivity by automating the process of opening envelopes, sorting payments and making deposits into 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 electronic transactions for improved collections

First PREMIER's Lockbox Service processed more than 13 million payments last year and all payments were processed the same day they were received.

Contact us for more information.