For some businesses, it makes sense bypass the middleman — you — and route your customers’ payments straight to us. First Business Bank’s lockbox banking solutions reduce your workload and convert receivables into cash quickly. Our wholesale and hybrid lockboxes feature same-day deposits and credits for customers’ payments, reducing the time and cost of transactions.
Within our secure online portal, First Business Bank clients receive same-day access to a detailed summary and images of deposited items along with invoices or payment coupons. You can receive an electronic remittance file, which you can use to update accounting records and post payments. Increase control in managing receivables and improve audit control and data security.
First Business Bank offers processing sites in Milwaukee, WI and in Minneapolis, MN.
Key Lockbox Banking Benefits
• Streamline collections in a controlled, secure environment
• Accelerate the availability of funds
• Save your staff time
• Improve internal controls
• Same-day access to detailed summaries
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