Retail Lockbox Service
Retail Lockbox Service can accelerate your company’s receivables collection and accounts receivable posting process for high volume mailed payments. Your customers’ payments are directed to a specific TD post office box. We collect and process the payments daily and put the Canadian funds into your TD business account the same day. Payment information is provided to you through a variety of options to suit your needs.
What Retail Lockbox Service Offers You
- Faster collection and deposit of cheque payments that are sent with accompanying remittance document(s) through the mail
- Consolidated reporting from multiple lockbox sites
- Comprehensive reporting capabilities
- Processing of post-dated payments up to 365 days
- Processing of U.S. Dollar items
The Benefits of Retail Lockbox Service
- Updates receivables faster via electronic transmission of remittance information
- Allows you to concentrate on your core business
- Facilitates same-day deposit
For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.