Retail Lockbox Banking Services
Contact a Treasury Management Officer.
First time user?
What is Lockbox Banking?
As part of our treasury management services, Fifth Third provides lockbox services to collect customer payments by check. Lockbox services are ideal for businesses that have a large number of checks on a routine basis. We collect, process and deposit payments for you, which saves you time and gives you better access to money in your business account.
Streamline your payment processes with Fifth Third Retail Lockbox Banking Services. Contact a Treasury Management Officer at 866-475-0729 or find a branch to get started.
Benefits of Lockbox Banking
With our retail lockbox solutions, businesses can count on:
- Improved Cash Flow: Faster deposit times mean improved cash flow, as businesses can access their funds more quickly and efficiently.
- Faster Processing: Payments are processed and deposited into your checking account quickly because checks are sent directly to a lockbox location managed by the bank, rather than to the business' address.
- Access to Specific Check Images: This can help expedite dispute resolution processes.
- Enhanced Security: Lockbox services often include security measures to protect against fraud and theft.
Contact a Treasury Management Officer.
Electronic Deposit Manager
We can also streamline check processing with our Electronic Deposit Manager (EDM). It’s a web-based application that lets you scan checks and create balanced deposits quickly and accurately. EDM will help you:
- Retain in-house control over deposits.
- Mitigate check fraud risk.
- Access deposited funds quicker, compared to in-branch transactions.
24/7 Assistance
Our sophisticated imaging technology and processing sites are uniquely positioned to optimize mail time and decrease float. These sites operate 24/7 to accelerate payment processing and give you quicker access to funds. Plus, your daily accounts receivable information will be sent to you with a detailed audit trail.
