Online Wholesale Lockbox
Make the Most of Your Earnings - Every Day
When your business receives large dollar amount checks, City National's wholesale lockbox can be especially helpful. The service is especially helpful for businesses that receive large dollar amount checks.
How Wholesale Lockbox Works
- We open a U.S. Post Office Box in your company's name to be used for incoming customer payments.
- You customers mail receivables directly to your post office box.
- We retrieve these remittances on a daily basis, at several key times during the workday. We process the items and credit your account directly.
- We compile your receipts daily and send you a listing of the deposited items and the deposit total.
- View daily activity details using our Online Imaging. You get same-day access to view deposits and print remittance images and reports.
- Perform reconciliation with our comprehensive reporting any time. So you can be sure you're working with the most up-to-date information possible.
Swift Receipt of Funds
- Multiple mail pick-ups at key times during the business day shorten the time it takes for payments to get from your customer's checkbook to your company's City National checking account.
- Your account is credited the same day remittances are received, reducing float associated with collections and making your money available to you sooner.
Harness Your Earnings - Daily
- Complete your accounts receivable posting more quickly with same-day online access to your lockbox information. Improved control of funds maximizes your earnings.
- Expanded reporting of remittance information available through a variety of delivery options: mail, courier, fax, online, CD Rom, and data transmission.
- Ensure a secure point of receipt for your company's receivables with a single unique address for receiving checks.
- Enhance your internal controls with segregation of duties so your employees can focus on other tasks and projects.
- Automate receivables updates with customized posting files.
- Receive images and remittance information for archiving. Eliminate all those paper documents with Online Imaging.
- Reduce filing and retrieval time, save storage space and save paper.
Same-Day Online Imaging and Reporting
- View the front and back of your remittance documents with the dual-sided imaging feature of our new Online Wholesale Lockbox Image Services.
- Validate that important postage date with our envelope imaging.
Our comprehensive deposit reporting and flexible delivery options include:
- Data transmission
- Electronic reports
- Online Wholesale Lockbox Image Service.
To sign up for a Treasury Management service or for more information, please contact us any time at cnb.com or call Treasury Management Client Services between 5:30 a.m. and 7:00 p.m. (Pacific Time) Monday through Friday (800) 599-0020 select option 2.