What is our Wholesale Lockbox service?
RemitStream Solution's Wholesale Lockbox Service is the traditional cash management tool designed for corporate-to-corporate payments.

If your corporate customers receive low-volume, high-dollar payments, we process these Wholesale Lockbox payments using a state-of-the art, integrated infrastructure.

How does Wholesale Lockbox work?
Our workflow typically includes the following:

Payments are mailed to our unique zip code at the post office, which enables the U.S. Post Office to prioritize our mail so that float can be reduced.
 
After RemitStream Solutions retrieves, opens, and sorts the payments on our high-speed equipment, we review your customers' unique processing instructions, inspect the checks to your customers, and enter and re-enter the amounts on our system.
 
If the amounts match, a check image is captured, the check encoded, and an audit trail sprayed on the back of the checks. A sophisticated verification review process designed around your priorities is used to match the check images with the invoices and envelopes. The result has been over 99.9 percent processing accuracy on major production measures.
 
After processing is complete, we deposit the checks by your deposit time and at the clearing bank of your choice - local branch, correspondent, or Federal Reserve account.
 
To assist your customers in maintaining accurate records, we return the remittance documents, check images, and deposit information according to their instructions.
 
Critical data may also be transmitted directly to your customers' systems at the end of the day in multiple formats. Payments are quickly processed and deposited to ensure that your customers get maximum availability of funds.

Learn more about our workflow by viewing our Image Lockbox Service or flow chart.

What are the benefits of Wholesale Lockbox?
Wholesale lockbox reduces mail float and maximizes funds availability for your customers.
 
By receiving payment information faster, your customers can update their accounts receivable sooner and enjoy reduced Days Sales Outstanding, improved customer service, and even increased internal efficiency.
 
As your private-label lockbox processor, we provide your customers with state-of-the-art processing that features your brand name and logo.
 
You enrich your customer relationships while having more time to devote to your core business.
 
Through our partnership, you improve your bottom line and get other benefits as well. Learn more about Benefits for You and Your Customers.

What makes us different?
RemitStream Solutions has 10 important differences with its competitors that answer the question, "Why RemitStream Solutions?"

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