Businesses receiving a significant number of payments by mail must maintain staffing and reporting mechanisms to handle the volume. The Bank of Kentucky offers a solution to these challenges through its Lockbox Processing services.
With Lockbox Processing, remittances are mailed directly to The Bank of Kentucky, which assumes the clerical duties of opening the mail, preparing checks for deposit and sending deposit information back to the business for posting.
Lockbox Processing provides optimal availability of funds, significantly reducing overhead and adding dual control over receivables. The Bank of Kentucky offers both wholesale and retail lockbox and will customize a solution specific to your business needs.
For additional information on Lockbox or other Treasury Management Services, contact our Treasury Management Specialist:
Michael Fennell, Treasury Management Specialist, (859) 426-2290, firstname.lastname@example.org
Stephanie Moore, Treasury Management Administrator, (859) 372-2214, email@example.com