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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Lockbox Services

Our Lockbox Service helps your business collect payments faster and manage receivables more efficiently. By automating payment processing and posting, you can reduce manual work, improve accuracy, and accelerate cash flow, so your team can stay focused on serving customers and running the business.

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Lockbox

What is a Lockbox?*

Managing steady cash flow is essential to your business, and Lockbox can help make that easier. Lockbox is a secure payment processing service from Provident Bank that helps you collect, deposit, and manage incoming payments more efficiently.

With Lockbox, your customers send payments directly to a dedicated mailing address. From there, we take care of the processing, including opening mail, processing checks, and depositing funds into your account quickly. Using advanced image capture technology, we create digital copies of checks, invoices, and related documents and provide you with a daily report.

You can also access transaction details anytime through Online Lockbox, giving you real-time visibility and greater control over your receivables.

Why Businesses Choose Lockbox Services

  • Reduce Administrative Costs: Save time and reduce the expense of in-house payment processing while helping protect against internal fraud and theft.
  • Faster Access to Funds: Accelerate collections and reduce processing delays so your cash is available sooner for operations, growth, or other business priorities.
  • Up-to-Date Customer Records: Keep customer accounts accurate with timely data updates and automated posting.
  • Simplified Recordkeeping: Automate receivables management with fewer errors, detailed reporting, and a clear audit trail—plus seamless integration with most accounting systems.
  • Same-Day Visibility and Decisioning: View rejected payments online and take action quickly to keep your receivables process moving. 
  • Reliable, Secure Access: With cloud-based data storage, your information remains accessible and protected, helping support business continuity in unexpected situations.

Is Lockbox Right for Your Business?

Lockbox services are especially valuable for businesses that process a high volume of payments, such as utilities, property management companies, municipalities, manufacturers, and healthcare billing providers.

With advancements in payment technology, Lockbox solutions are now more flexible and accessible, making them a strong option for businesses of varying sizes looking to streamline receivables and improve cash flow.

A Smarter Way to Manage Cash Flow

Lockbox is more than a payment processing tool, it’s a solution that can help your business improve efficiency, enhance visibility, and strengthen financial operations.

Contact a Provident Treasury Management Officer to explore customized options and see how Lockbox can support your business goals.

Everyday Features with Treasury Management

Provident Business Debit Mastercard®

Designed to make everyday business spending simple, secure, and efficient giving you convenient access to your business funds for purchases and payments.

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Mobile Banking for Business

Bank anywhere, anytime with our mobile app. Enjoy secure, convenient access to your business accounts.

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ProvidentConnect for Business

Securely manage your accounts with ease through ProvidentConnect for Business Online Banking.

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Treasury Management Team

Our team of experts are here to help and ensure your success every step of the way.

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Frequently Asked Questions

Disclosures

*Subject to additional terms and conditions and/or fees.