If you collect high dollar value trade payments, mostly by cheque, and/or if these payments originate from many points across Canada, our Wholesale Lockbox service can accelerate your cash flow and provide you with timely payment information. Mail float can be reduced by having us collect your paper based receivables through strategically located post office boxes across Canada. Payments are collected and processed daily for same day availability of funds in your TDCT business account, and payment information is provided to your company through a variety of options to suit your needs.

Features

Conventional Lockbox Processing:

• Flexible payment processing and reporting:
  • you decide how you want us to handle your payments (i.e. identify which items are processable and which type of payments should be returned to you)
  • you choose what information you need us to provide from cheques, stubs and/or envelopes and how you wish this information to appear on reports
• Consolidated reporting from multiple lockbox sites
• Comprehensive reporting capabilities:
  • we can provide you with a variety of reports: deposit summary reports, payment detail reports and/or unmatched item reports to suit your needs
• Flexible information delivery options
    Readable report format via:
  • Web Business Banking File Transfer
  • Fax
  • Paper (in your daily backup package)
  
    Data file format via:
  • PC/Web Business Banking Data File Transmission (BAI/EDI)

• Enhanced lockbox processing provides high quality images of your lockbox documents online (cheques, invoices, envelopes and correspondence)
• Choice of Web Report or Data File Transmission

Benefits

• Reduces mail float - even a day's mail time saved can have significant value
• Provides same day availability of funds deposited to your TDCT business account
• Provides timely payment information for updating your accounts receivable
• Eliminates cheque handling by your company's employees
• Eliminates keying of payment information by providing direct payment information transmissions to your receivables system
• Effectively outsources activities which might otherwise be subject to costly internal control and audit requirements
• Allows you to concentrate on your core business
• Toll-free support line, staffed by knowledgeable experts, available each business day from 8 a.m. to 8 p.m. Eastern Time (except bank holidays)

Additional benefits with Wholesale Lockbox Image Retrieval Service:

• Access your lockbox images in a secure online environment
• Faster access allows you to quickly resolve payment issues
• View your images online for 90 days with long term storage via CD-Rom
• Reduction in paper
• Saves you money by reducing the costs associated with receiving a daily backup package and related courier charges
• Online help facility available
• Your company-appointed System Administrator manages all internal users, assigning rights and privileges as required

For more information contact a Relationship Manager at the Commercial Banking Centre nearest you.