Remittance Lockbox Processing

Bank Up receives remittances (checks and coupons), converts images to data, reconciles transactions, deposits funds to customers’ deposit accounts, electronically updates customers’ accounts receivable, and provides secure searchable online images of remittance documents. Bank Up also provides eLockbox services, which intercept paper checks sent by bill payment services. Bank Up serves mid-sized and smaller customers receiving 3,000 – 200,000 checks per month.


How it works:

Our customers, utilities, municipalities, and commercial enterprises, direct their customers to send their check payments to a P.O. Box

Our bonded courier picks up the mail and brings it to our secure processing facility

We open mail and scan remittance documents

Our proprietary FLEX remittance processing software reads checks and scan lines, and reconciles transactions

Trained operators ensure accuracy

Our inter-bank clearing capabilities intercept paper “billpay” checks issued by bill payment services

We deposit funds to our customers’ deposit accounts via Check 21 image cash letter (same day credit)

We electronically update customers’ accounts receivable system

Our secure online searchable Image Archive Retrieval offers real time access to remittance images

Same day processing


The problems we solve:

Customers’ budgets continue to tighten

Capital expenditures are increasingly difficult to get approved

Our customers seek to

Improve service

Reduce costs

Shift employees from clerical tasks to customer service and collection

Accelerate receipt of cash

Track payment receipt to control late pay penalties


Banks are stepping away from lockbox

Banks offered lockbox to gain deposits, which currently yield low interest income to banks

Banks may be required to hold compensating balances for public customers

Banks are consolidating lockbox operations to distant processing sites

Fees are rising and more charges are being levied

Service levels are dropping


Customers need to coordinate receipt of payments made in multiple forms:


Credit and debit card



"Bill pay" remittances

Integrate Voice Response


Benefits of Bank Up’s Remittance Lockbox Solution:

No capital expenditures

Accelerate cash receipts

Imporve accuracy

Reduce costs

Applying technology saves 50 - 75%

May reduce bank fees


No need to change banks

Can change banks without being held back by bank lockbox services

Separating lockbox from banking services can reduce overall costs

Bank Up can integrate with any accounts receivable system

Searchable access to images improves our customers’ ability to provide excellent customer service

Bank Up uses our own proprietary FLEX Remittance Processing System, which our employees develop, maintain, install, and service, ensuring up-to-date features and function and reliable processing

Coordinate payments made in range of forms


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© 2015 Bank Up Corporation. All rights reserved. Phone: 1-800-980-8038. Fax: 510-522-9720.