Does your business receive large amounts of payments or a small number of large payments by check?
Our lockbox services save you time and speed up your cash flow while increasing payment processing security. Our lockbox services take payments for you through the use of a Post Office Box and checks are deposited directly to your account daily with the details available online.
Lockbox services are ideal for customers receiving a large number of payments, a small number of large payments, or where it is more efficient and cost effective for the Jefferson Bank and Trust lockbox services to receive and deposit payments than to pay your staff to perform this function. Our lockbox services prevent deposits from sitting in a desk drawer until someone has time to go to the bank and improve your cash flow by ensuring deposits are made in a timely manner.
If you have more questions about our lockbox services or want to start getting the benefits of our lockbox services today, call us at 314-621-0100 or use our convenient online contact form. Contact us and find out why we’re one of the best banks in St. Louis for small business.
Why Small Businesses Choose Our Lockbox Services
Any St. Louis business that handles deposit transactions in substantial volumes can find considerable benefits in using our affordable lockbox services. The main benefits are in improved security, ease of cash management, enhanced documentation of your business revenue, lowered risk of theft, and increased ease of regulatory compliance.
In general, some of the benefits your business can see from taking advantage of our lockbox services for payment processing include:
- Reduce risks of theft and losses due to fire & flooding: Using our lockbox services, you can prevent checks from being misplaced, deposited to the wrong account or from being kept at your business overnight. Our lockbox services can reduce your business risk by making sure payments received are deposited directly to your bank account daily.
- Improve worker productivity: As part of our lockbox deposit services, we will handle pickup, organization, and processing of all of your deposits. The deposits will be entered into an automated system each day with details available online. This reduces administrative services you have to handle in house and allows employees to focus on other tasks.
- Easier cash management and accounting: Checks sitting in your register, depending on your point of sale system, may or may not integrate with your overall accounting system. Our lockbox services can help you see an itemized list of deposit transactions made each day, allowing you to keep better track of what’s going on in your business.
- Easier regulatory compliance: Tax authorities can cause your business problems if you keep large quantities of checks at your place of business for long periods of time. Lockbox services can reduce your regulatory overhead and help you to show that you’re in compliance with all tax regulations.
- Trusted individual service: As with all of our commercial banking services, the services provided by our Lockbox Department offer one-on-one, personalized service. You will work with the same person at Jefferson Bank for years at a time as we get to know your business goals and needs.
If you have more questions about our lockbox services or want to start working with our St. Louis bank for lockbox deposit services, call us at 314-621-0100 or use our convenient online contact form.