Retail/Wholesale Lockbox

Retail

Accelerate Payment Collections and Improve Cash Flow

Turn your receivables into usable funds more quickly through the efficiencies provided by a California Bank & Trust (CB&T) Retail Lockbox. Let CB&T receive, scan, process, and deposit your customers’ payments– and then deliver the remittance data, including transaction images, to you. In addition to collecting your funds faster, you avoid the time and expense of handling payments in-house. With a CB&T Retail Lockbox:

• Your customers mail their remittances directly to a P.O. Box established for your collections.
• CB&T collects the payments and delivers them to our lockbox centers for processing.
• Deposits are posted to your CB&T checking account for same-day ledger credit.
• Information regarding the day’s payments and deposits is available to you in a number of ways, including hardcopy report, CD-ROM, or online via CalBank Network, CB&T's Internet cash management service.
• A data file is prepared for the updating of your accounts receivable system and is delivered based upon the method and frequency you request.
• Correspondence included with the remittancees, such as name/address changes, are generally delivered to you for the updating of your records.

Advantages of a CB&T Retail Lockbox

Improved cash flow since your payments are processed and your deposits are posted more quickly through automation.

Elimination of manual efforts associated with opening mail, processing payments, and preparing deposits.

Increased accuracy through CB&T’s scanning software and automated processes. Each payment amount is put through a double-verification process, and deposit slips are automatically generated.

Enhanced reporting with daily access to deposit amounts, funds availability, and payment information -- including electronic images of processed payments and coupons.

Greater control and flexibility with client-defined parameters that include:

• Coupon formats: We will process payments using your existing remittance coupons, or make arrangement for coupons to be produced for you. Future format changes can be easily accommodated.

• Data file formats: You tell us how you want to receive your payment data. We’ll provide it in the format compatible with your internal accounting system to facilitate your posting of account payments.

• Data delivery: You define when you want to receive your payment information -daily, weekly, or monthly, and how --hardcopy report, or CD-ROM. Daily deposit and remittance information, including images, is also available via CalBank Network.

• Exception processing: Provide us notification electronically of any payments you do not want processed, and they'll be handled as exceptions.

• Status reporting: We can identify for you who has paid – and who hasn’t – based upon payee data we capture from remittance coupons and customer information you provide us.

Wholesale Lockbox

Turn Receivables Into Usable Funds More Quickly

Reduce the time it takes to turn your receivables into usable funds and improve your cash flow with California Bank & Trust’s (CB&T) Wholesale Lockbox Service. Let CB&T’s cash management staff analyze your remittances to determine whether one or more lockboxes will benefit your receivables operation, and where these collection points should be located for greatest efficiency. With a CB&T Wholesale Lockbox deposit network:

• Your customers mail their payments directly to a post office box rented in your company’s name.
• Each day your mail is collected, processed, and deposited to your CB&T checking account for same-day ledger credit.
• Deposit information is available to you by fax or phone, as well as online via CalBank Network.
• Information for updating your receivables is forwarded to you using the method you choose – electronic delivery or hardcopy report, with overnight delivery available.

Advantages of CB&T’s Wholesale Lockbox Service

Improved Cash Flow since your payments are processed and your deposits are posted more quickly through automation.

Reduced Processing Time because specialized personnel handle remittances quickly, while you eliminate staff time associated with opening mail, processing payments, and preparing deposits.

Flexible Reporting with daily access to deposit amounts, funds availability, and payment information.