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Automated Lockbox Service

Our Automated Lockbox Service enables the members of your homeowners association to send individual assessment payments directly to the Bank. By utilizing this service, multiple handling of payments are decreased, thus reducing processing delays and increasing security. In the event payments are sent directly to the association management office, we can provide a courier service that transports the checks to the Bank. The features and benefits of using our lockbox services are listed below.

Processing

All payments are processed on the day that they are received by the Bank. Irregular payments and notes to the Manager are referred to your management company personnel for review and processing are handled in accordance with the association's instructions.

Flexibility

Almost any billing or coupon system can be integrated into our lockbox system. By working one-on-one with your homeowner's association data processor or management company, we can accommodate special service needs.

Reports & Receipts for Deposits

On a daily basis, complete deposit report listings are forwarded by e-mail, fax courier or mail to your association's designated representative or management firm. This allows individual unit owner's account records to be updated on a timely and individual basis.

Automated Data Integration

In most cases, Automated Data Integration makes it possible for us to provide a record of your deposits on a magnetic disk or via modem for "uploading" into your accounts receivable system; thus eliminating the process of entering each receipt individually into your system.

Lockbox Checking

This is an easy method to manage your association's monthly assessments. Our Lockbox Checking account pays your association a special interest rate that can help to reduce or in some cases even eliminate service lockbox charges.

The security and the convenience of our lockbox services, including processing and reporting, combined with our lockbox checking, results in an efficient and timely method to manage your association's banking needs.

Benefits


• Reduce internal costs associated with the remittance processing
• Customized processing and reporting
• Optional daily transmissions of receivable data
• Daily deposit information via various channels, for direct transmissions to paper reports
• Faster availability to your funds