TD's Retail Lockbox Service accelerates your company's cash collection and accounts receivable posting process. Payments are directed to a specific post office box which is serviced by TD Commercial Banking. Payments are collected and processed daily for same day availability of Canadian funds in your TD Commercial Banking account and payment information is provided to your company through a variety of options to suit your needs.
Features To Your Company
- designed to accelerate the collection and deposit of cheque payments, sent with accompanying remittance document(s), through the mail
- consolidated reporting from multiple lockbox sites
- comprehensive reporting capabilities:
- TD can provide you with different types of reports to suit your needs
- processing of post-dated payments up to 365 days
- processing of U.S. dollar items
- acceptance of Payment (APAs) can be processed and included in your daily transmission file
How Retail Lockbox Benefits Your Company
- updates receivables faster via electronic transmission of customer's remittance information
- allows you to concentrate on your core business
- same-Day Deposit
The Retail Lockbox Solution
- you direct your customers to send payments to a Post Office address that is serviced by TD
- mail is collected and delivered to the designated processing centre for processing
- payments are processed on our high-speed equipment
- cheques are encoded and the total of the collected payments is deposited on the same day to your TD account
- daily backup package is sent to you including reporting and any unprocessable items by mail, courier or via your branch for pick-up
- electronic payment details are made available to you daily
For more information contact a Relationship Manager at the Commercial Banking Centre nearest you.
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