U.S. Banking Services
USBBS Wholesale Lockbox
If you collect high dollar value trade payments from your customers in the U.S. mostly by cheque, our USBBS Wholesale Lockbox Service can accelerate your cash flow and provide you with timely payment information. Your mail float can be reduced by having us collect your paper-based receivables through strategically located post office boxes across the United States.
What USBBS Wholesale Lockbox Service Offers You
- Funds are deposited to your USBBS checking account, subject to the normal United States’ availability of funds criteria
- You receive comprehensive electronic transaction reporting
- Lockbox processing sites are strategically located across the U.S. with locations in Baltimore, Philadelphia, Atlanta, Dallas, Los Angeles, Orlando, Chicago and Charlotte
The Benefits of USBBS Wholesale Lockbox Service
- Can improve your cash flow by reducing float, a significant consideration when collecting receivables from U.S. clients
- Provides timely payment details for updating your accounts receivable
- Establishes controls and audit trails
For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.