Lockbox transactions should be processed as an accounts receivable entry (ARC).
These ARCs enable originators to convert to a single check received from a consumer via the U.S. mail or at a dropbox location for the payment of goods or services, to an ACH debit.
The consumer’s source document (i.e., the check) is used to collect the consumer’s routing number, account number, check serial number and dollar amount for the transaction.
To determine which services are right for your organization please call 866-764-2002 or contact us today.
Reduced time-frame for receiving and processing payments
Reduces errors made by manual processing
Increase cost savings by processing paper items as ACH transactions
