Wholesale Lockbox
With Wholesale Lockbox processing, we can assist you in expediting your business-to-business remittances. Reduce float, accelerate your funds availability and improve your financial decision-making.
- Same-day reporting via the internet
- View check and invoice images via the internet
We can also provide you with a CD-ROM containing images of your checks and invoices for long-term and disaster recovery storage.
Retail Lockbox
Lockbox service acts as a vehicle for the acceleration of receivables into your Vineyard Bank deposit account. Processing in this manner increases float value for investment purposes, which is a direct result of faster receipt into the account.
Payments are remitted to primary U.S. postal facilities. Payments are picked up from the Post Office once a day and delivered for processing. Checks are prepared for check processing and deposited into your account. After payments are processed, account activity will be reported via balance reporting same day. Transaction images are available in gray scale or color and can be viewed on a secured internet site.
- Faster clearing of items
- Greater investment potential
- Increased speed and accuracy of processing
- Back-up processing capabilities
- Improved audit control
- Same-day reporting
- View check and coupon images same-day
We can also provide you with a CD-ROM containing images of your checks and coupons for long-term and disaster recovery storage.
Property Management Lockbox
Our Property Management Lockbox services are tailored for community associations, master associations and property management companies. Your residents would mail their payments with a machine-readable coupon to our P.O. box.
Exception processing is available and will allow funds to be split into separate demand deposit accounts for each property. An electronic file will be made available same-day for receivable(s) and updating.
Images of checks and remittance coupons will be made available same-day via the internet. We can also provide you with a CD-ROM containing images of your checks and coupons for long-term and disaster recovery storage.