At Columbia Bank, we continually work to provide our clients solutions for efficiency and convenience. With access to a designated post office box, we can collect, process and deposit customer payments for you, as well as provide for rapid return of remittance materials, un-deposited checks and any other correspondence received in the lockbox.
Columbia offers three service packages: retail, wholesale and medical. We will work with you to customize our lockbox service to fit your business’s needs.
How does Lockbox Service work?
Payments are mailed to the bank’s post office box, a bank courier picks up the mail every morning, operators process the payments according to the client’s setup, a notification is sent to the client once the deposit is completed, and the client retrieves the information from our lockbox online site.
What type of business is best suited for this product?
Professional service providers such as medical offices, dental offices and law firms, are great candidates, as well as companies that have billing cycles or mail-back coupons. Also, companies that receive full-page documentation and have multiple invoice numbers benefit from our wholesale lockbox service.
Does the business have to be a specific size?
Lockbox service can work for any size business. Today’s increased automation in payment processing has allowed Columbia Bank to reduce the cost of lockbox banking service, which makes it easy and affordable.
What happens to my payment information once processed?
We retain the original documents for up to 90 days.
What if my business is located in another state?
The payments come directly to us. You have access to the deposit information immediately after notification is received. You can retrieve detailed information by contacting us at firstname.lastname@example.org.
How long does it take to get set up?
We work with you to set up your lockbox service as quickly and efficiently as possible.
Our basic lockbox service includes:
Expanded lockbox options include: