Accelerate your receivables
Accelerate receivables, improve cash flow, and maximize earnings potential with Wholesale Lockbox services. With detailed remittance information online, your team maintains close control over remittance activity to improve customer service, troubleshoot payment issues and streamline your reconciliation.
How it works
Receivables are mailed by your customers directly to a post office box. Remittances are retrieved at several key times during the day and processed for deposit as they arrive. Your daily receipts are compiled and presented in a comprehensive, flexible fashion for enhanced reconciliation. Online Imaging provides same-day web access to view and print remittance images and reports.
- Accelerated Availability of Funds
Your City National account is credited the day remittances are received, reducing float associated with collections and making your money available to you sooner.
- Same-Day Online Imaging and Reporting
You can retrieve your remittance information the same day, anytime and anywhere you have access to the Internet. Dual-sided imaging allows you to view the front and back of your remittance documents. Envelopes can even be imaged to validate mailing dates.
- Faster Accounts Receivable Posting
Same-day online access to your lockbox information allows you to complete your accounts receivable posting more quickly.
- Reporting Flexibility
We offer expanded reporting of remittance information with a variety of ways for you to receive your reports. They can be delivered via data transmission, fax, mail, courier or online. Monthly summary information with check images can be received on CD-ROM.
- Enhanced Security
Your internal controls are enhanced with segregation of duties.
- Increased Efficiency
Eliminates routine tasks for your staff, allowing time for more productive tasks. Online imaging may even eliminate the need to receive and store the paper documents.
To sign up for a Treasury Management service or for more information, please contact us or call Treasury Management Client Services between 5:30 a.m. and 7:00 p.m. (PT) Monday through Friday (800) 599-0020 select option 2.