BBVA Compass' lockbox services enable your company to receive, process, and deposit work much more quickly than handling in a manual environment. Our automated solutions enable your company to streamline your remittance processing so that information and funds can be accessed much earlier in the processing cycle.
You choose the processing options that best suit your company's needs and let BBVA Compass' Wholesale Lockbox service professionals enhance the quality of your processing and customer service. Since BBVA Compass deposits the checks for you, you gain additional audit controls due to the further separation of the depositing and account posting functions.
In addition, our Lockbox Imaging Services enable you to receive images of your checks and related invoices via BBVA Compass Lockbox CD-ROM/DVD or online via BBVA Compass net cash™ Enhanced Lockbox Reporting module. Should your company already have an enterprise archive, BBVA Compass can transmit data and images directly to you.
BBVA Compass' Wholesale Lockbox service eliminates mail, receipt, and processing of receivables in your office, allowing for more effective use of your staff. Deposits are made promptly and your need for expensive remittance processing technology is eliminated.
Lockbox Distributed Capture enables you to capture checks remitted to your office for same day processing through your lockbox. After you scan the remittances and associated documents, BBVA Compass will include these transactions with your lockbox deposits. That provides you with a single processing stream and a comprehensive image archive and data transmission to post the items to your receivables system.
You can accelerate cash flow and ensure timely deposit of payments. Wholesale Lockbox also reduces mail, processing, and check collection float.
Efficiency is further improved by utilizing our Account Receivables Invoice Matching service that utilizes the information from your open accounts receivables file to pinpoint items that match open receivables so that you can promptly close the transaction.
To further your straight through processing goals, we also offer the option for you to receive a consolidated file of your Lockbox, ACH, and wire transactions in a file format compatible with your system with multiple delivery windows per day.
BBVA Compass has lockbox sites in:
We have several processing packages to choose from, and some customization is available.
Please fill out and submit the form below and a Treasury Management services representative will contact you.
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All accounts and credit are subject to approval including credit approval.