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Business Lockbox Services

Business lockbox services provides assistance with payment processing efficiency and filing while also helping you cut down on paper usage.  Belmont Savings Bank offers four industry-specific business lockbox services for wholesale, retail, property management and healthcare. Our business banking team will work with you to provide the exact business lockbox services that you need.

Wholesale Lockbox

Wholesale Lockbox efficiently collects, processes, and deposits high-dollar check payments from businesses to the bank accounts you designate. The expertise of our lockbox team combined with our imaging technology result in better than 99.9% accuracy on our wholesale lockbox processing.

  • Faster collections process.
  • Reduced mail float.
  • Accelerated cash flows.
  • Flexible, customized service.
  • Access to the Web-based images same day with our online reporting application.
  • Access to an image archive for storage and research and to create a paperless work environment as part of our online reporting application.
  • Timely reporting with a variety of delivery options.

Retail Lockbox

Retail Lockbox processing services can improve your cash flow from consumer payments. Retail Lockbox services process remittances that are accompanied by scannable coupons. Approximately 90% of the retail lockbox payments received at our lockbox processing sites include these coupons.

  • Faster, more accurate collections process.
  • Reduced mail float.
  • Accelerated cash flows.
  • Flexible, customized service.
  • Faster access to receivables information for improved customer service.
  • Access to the Web-based images same day with our online reporting application.
  • Access to an image archive for storage and research and to create a paperless work environment as part of our online reporting application.
  • Timely reporting with a variety of delivery options.

Property Management Lockbox

Property Management Lockbox  provides comprehensive receivables services for property management companies and facilitates your transition from paper to electronic payments processing on a step-by-step basis.

  • More accurate, efficient processing of assessment and rental payments.
  • Accelerated collections and improved cash flow.
  • Ability to identify and associate transactions with a specific property automatically.
  • Integrated data from multiple sources into a property managementspecific transmission.
  • Streamlined accounts receivable processing.
  • Reduced costs through automated assessment or rent collection.
  • Improved management of the risks associated with consistently late owner payments.
  • Reduced handling of in-house payments.
  • Less need for paper storage.
  • Quicker access to assessment or rental payment information.
  • Ability to move at own pace to electronic payment processing.
  • Quicker and easier updates of homeowcers association accounts receivable records.
  • More efficient exceptions management.
  • Improved customer service.

Healthcare Lockbox

Healthcare Lockbox is a lockbox solution extending beyond basic lockbox processing to meet the specific needs of healthcare providers. Healthcare Lockbox will provide a suite of end-to-end revenue cycle management tools.

  • Faster posting.
  • Less paper.
  • Automated posting.
  • Reconciliation of payments to remittance to claim.
  • Accelerated funds availability.
  • Improved fraud detection from identifying fraudulent checks sooner.
  • Quicker exception process.
  • End-to-end remittance document processing.
  • Fewer days in Accounts Recievable.
  • More total dollars collected.
  • Single connection of all payers to provider for both paper and electronic payments.
  • Time savings that can be redirected to patient care.

As a thriving community bank, the Belmont Savings Bank business banking team is dedicated to providing quality services for businesses in our community. You can count on our team to give you high quality lockbox services.

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