How Does Digital Lockbox Work?
- All payments and remittance documents are mailed to a centralized P.O. Box.
- Mail is retrieved from the post office each morning and then sorted, opened and scanned using high-speed imaging equipment at one of Bank SNB’s operation centers.
- Checks are deposited the same day they arrive, reducing float and improving availability of funds.
- Checks and associated documents along with other correspondence are scanned, indexed and stored online. Documents are indexed by date, document type, payment amount, remitter or other relevant parameters.
- Documents become available for online search and retrieval by the next morning.
Talk with a Bank SNB treasury management representative in your area to determine if Digital Lockbox is right for you.