Reduce in-house processing expenses and increase funds availability with Retail Lockbox, Inc. automated Lock Box Service.

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By selecting Retail Lockbox, Inc. to process your receivables, your company will benefit from improved availability, advanced technology, reliability and control.  As a result, your company will enjoy quicker, more productive use of funds because your standardized remittances are deposited and cleared faster.

Retail Lockbox, Inc. uses NCR workstation equipment to capture payment information, keeping processing costs low and allowing data to be transmitted for the automatic update of your accounts receivable system.

• Payments are mailed - Your customer payments will be directed to your own Post Office Box, in Washington, Oregon, Idaho or Alaska.

 
• Mail pick-up - Mail arriving at the Postal Facility is picked up by Retail Lockbox, Inc; multiple times daily and on weekends. From there, it is taken to our processing area where remittances for your company will be opened and sorted based on the type of payment.

 
• Processing - Each type of item is batched separately and run through the transport. A light sensing reader then scans each coupon.  All information contained in the coupon scan line is captured in a single pass through the document processing workstation.  Full payments are encoded by "power encoding" the amount of the coupon onto the check. Check and coupon amounts are keyed for partial payment and multiple payments. The check is endorsed, encoded and an audit trail is sprayed on the back of the coupon and check.

 
• Deposit and reporting - The system automatically endorses each item, produces an audit trail and generates a standard report, listing items in batch and sequence order. Our flexible system also enables us to design a reporting package customized to meet your requirements.

 

• Administrative savings - With Retail Lockbox, Inc; processing your remittances, you eliminate the administrative cost associated with processing the items in-house. As a result, you and your staff can dedicate your full resources to other business activities.

 
• Reliability and control - Technologically advanced equipment and highly trained personnel ensure that your payments are captured accurately the  first time. In addition, custom reporting and stop file processing are both standard features of our Retail Lockbox Service, providing your company with several audit trails.

 
• Increased funds availability - Our automated document processing helps to accelerate your collection of receivables, making funds available faster. All work is processed on the same day it is received.

Once your mail is intercepted at the Post Office and delivered to Retail Lockbox's Operations Center, it is opened on OPEX mail opening machines and sorted into the following categories for processing based on the following classifications:

• Full payments - Single coupon, single check payments in which the required coupon amount exactly matches the payment amount of the check.

 
• Partial payments - Single coupon, single check payments in which the required coupon amount does not exactly match the payment amount of the check. Unless you instruct otherwise, the check will be processed for deposit and the amount will be applied to the account number indicated on the coupon.

 
• Payments with correspondence - Single coupon, single check payments with which an address change or other correspondence is enclosed. The item will be processed, and all remittance information and correspondence will be enclosed in the accompanying envelope and provided to your company.

 
• Multiple check payments - Multiple check, single coupon payments can be processed regardless of whether payments and scan lines agree. This option is at the discretion of your company.

 
• Multiple coupon payments - Multiple coupon, single check payments will be processed only if the total of the check payments equals the total of the coupon amounts. If they are not in balance, the items will be returned to your company.

 
• No coupons - Checks received without coupons are either deposited with a copy made and returned to you to update your records, or returned to your company without processing.

 
• Other payments - Checks without signatures, two-part checks, undated checks, stale dated checks up to six months old, checks with paid in full notation and checks posted three days or less will be processed.

 
• Rejected payments - The following payment transactions will not be processed by Retail Lockbox, and will be returned with daily lockbox work.
• Miscellaneous correspondence
• Copies of checks without coupons
• Unequal multiples
• Coupons can be returned to your company unsorted.  If requested, Retail Lockbox will retain coupons for up to five days and then destroy them.


At present, Retail Lockbox, Inc. is incorporating new technology so that we will be able to process our customers' payments over the internet.  This will provide a quick and easy solution for our customers, in that payments can now be made via check or credit card.  It will also provide the end customer the opportunity pay bills quickly, with any and all of the companies that Retail Lockbox does business with.
 

Copyright © 1997 Retail Lockbox Inc. & Mentor Consultants Inc. All rights reserved.  Unauthorized access prohibited.