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A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. The banks make several collections per day, process the payments immediately, and deposit the funds into the firm's bank account.


A service that a bank provides in which is processes payments for a company. The company directs its customers to send payments to a lockbox at the bank, whose employees then collect the payments and deposit them directly into the company's account. A lockbox reduces time between the receipt and processing of payments, which can be beneficial for the company using the service. On the other hand, it opens the possibility of fraud by bank employees, who could theoretically steal the payments by taking the funds from the payments and not depositing them.


(1) A special box placed on the door of homes listed for sale, with a key to the property inside the box.The box is accessed via a code or a key,available only to licensed real estate agents.

(2) An arrangement whereby customers of a business send their payments to a PO box which is actually controlled by the business's lender rather than the business.The lender takes all receipts, pays itself any loan payments and fees,and then remits the balance to the business.

References in periodicals archive ?
com to represent her Lite House Lock Box invention to industry over the next 2 years.
The village wanted not only to eliminate the lock box rejection problem but also, from a reengineering standpoint, to improve and/or simplify the billing product and process.
The IV lock box protects controlled substance infusions from tampering.
One well-known lock box is GunVault, which features the company's "no-eyes" keypad.
The Digital Lock Box, delivered as Software as a Service (SaaS), requires no hardware installation and can be launched as a desktop application, an advanced web system, and software deployed to a mobile flash drive.
The current Lockout/Tagout practice utilizes the lock box to avoid the mix-up and loss of keys belonging to specific locks.
Also, advise your customers to scan their fingers in exactly the position they intend to use when accessing the lock box.
Niko's Lock Box contains 38 unmarked envelopes containing awards from $100 to $10,000.
A less expensive lock box or trigger lock allows your customer a measure of security while saving for a large safe.
an outsourced back office solutions provider, announced today the addition of lock box processing services to its extensive list of integrated capabilities for communications service providers.
Only after required deposits under the SGR are satisfied are funds released from the trustee-controlled lock box to pay operations and maintenance.
Disguised as your regular, everyday English dictionary, it's actually a secure lock box that will keep your valuables safe