Lock Boxes
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 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel Black $44.95 Time Remaining: 27d 6h 5m Buy It Now for only: $44.95 |
 GE Supra Ibox Lock Box Real Estate $12.99 Time Remaining: 16h 11m |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $41.00 (27 Bids) Time Remaining: 2h 48m |
 1 lockbox key lock box for realtor real estate 4 digit $16.00 Time Remaining: 11d 11h 30m Buy It Now for only: $16.00 |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $16.50 (5 Bids) Time Remaining: 2d 2h 48m |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $25.01 (17 Bids) Time Remaining: 1d 2h 49m |
 5401 Wall Mount Key Storage $17.99 Time Remaining: 4d 3h 9m Buy It Now for only: $17.99 |
 1 Real Estate Supra iBox BT Lock Box De Programmed $40.00 Time Remaining: 2d 7h 46m |
 12 lockboxes realtor key lock box real estate 4 digit $128.00 Time Remaining: 15d 9h 12m Buy It Now for only: $128.00 |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $12.62 (6 Bids) Time Remaining: 2d 12h 25m |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $34.00 (19 Bids) Time Remaining: 6h 55m |
 48 HOOK STEEL KEY BOX STORAGE W LOCK WALL MOUNTABLE $19.99 Time Remaining: 27d 6h 2m Buy It Now for only: $19.99 |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $28.00 (17 Bids) Time Remaining: 1d 6h 54m |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $21.50 (4 Bids) Time Remaining: 2d 6h 54m |
 Sentrilock Real Estate Keybox Lockbox Purchase up to 13 Lockboxes $30.00 Time Remaining: 6d 15h 5m Buy It Now for only: $30.00 |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $36.00 (23 Bids) Time Remaining: 12h 25m |
 6 NIB GE AccessPoint Access Point Digital KeySafe 001923 $49.99 Time Remaining: 7d 10h 57m Buy It Now for only: $49.99 |
 03CF Electronic Digital Lock Keypad Safe Box Home Security Gun Cash Jewel White $26.00 (15 Bids) Time Remaining: 1d 12h 28m |
 Set of 2 GE SUPRA i BOX LOCKBOX DEPROGRAMMED $39.00 (1 Bid) Time Remaining: 2d 11h 40m |
 3 Shurlock key lockboxes 4 digit alph or 4 digit numeric OR BUY 1999 510 sh $26.99 Time Remaining: 23d 3h 19m Buy It Now for only: $26.99 |
 Lot of 23 GE Supra Dial Combination KeySafe Original Security Key Lock Boxes $56.00 (8 Bids) Time Remaining: 3d 8h 40m |
 Real Estate Supra iBox Two lock boxes look $60.00 (1 Bid) Time Remaining: 1d 9h 16m |
 MMF 221614003 Heavy Duty Steel Fire Retardant Security Cash Box Key Lock Sand $28.99 Time Remaining: 29d 8h 42m Buy It Now for only: $28.99 |
 SET of 5 GE SUPRA i BOX LOCKBOX DEPROGRAMMED $289.00 (6 Bids) Time Remaining: 2d 11h 34m |
 Key Box 4210 Lighted Motorized Locking Key Organizer $16.49 Time Remaining: 13d 7h 20m Buy It Now for only: $16.49 |
 GE Supra iBox Bluetooth Lock Box Deprogrammed + free gift + Real Estate $57.50 (2 Bids) Time Remaining: 2d 6h 3m |
 GE Supra iBox Lock Box Deprogrammed Real Estate Lock Boxes SET of 2 EBOX Realtor $49.00 (1 Bid) Time Remaining: 5d 10h 39m |
 Heavy Duty Plastic Carrying Case Millitary Surplus $15.00 Time Remaining: 10d 6h 36m Buy It Now for only: $15.00 |
 Lot of 2 Combination Realtors Combo Security Key Lock boxes Real Estate $22.00 (1 Bid) Time Remaining: 8h 33m |
 Wall Mounted Key Storage Safe Lock Box Mount to Wall $25.00 Time Remaining: 29d 6h 4m Buy It Now for only: $25.00 |
 NEW GE SUPRA IBOX DEPROGRAMMED REAL ESTATE LOCKBOX $58.01 (10 Bids) Time Remaining: 2d 6h 14m |
 Vault Locks4 dial combo locknewkey lock box combination lock $27.00 Time Remaining: 1d 15h 30m Buy It Now for only: $37.00 |
 MobiSafe Portable Storage Safe for iPod iPhone Money $13.95 Time Remaining: 29d 2h 39m Buy It Now for only: $13.95 |
 Vault Locks4 dial combo locknewkey lock box combination lock $27.00 Time Remaining: 1d 15h 31m Buy It Now for only: $37.00 |
 Vault Locks4 dial combo locknewkey lock box combination lock $27.00 Time Remaining: 1d 15h 31m Buy It Now for only: $37.00 |
 cabinet or tool box locks cam lock chrome $4.25 Time Remaining: 20d 1h 48m Buy It Now for only: $4.25 |
 Vault Locks4 dial combo locknewkey lock box combination lock $27.00 Time Remaining: 1d 15h 32m Buy It Now for only: $37.00 |
 ULTRA PINNING KIT LOCK CHANGE TOOLS REKEY NEW IN BOX $49.95 Time Remaining: 10d 11h 4m Buy It Now for only: $49.95 |
 Set of 3 GE SUPRA i BOX LOCKBOX DEPROGRAMMED $99.00 Time Remaining: 2d 11h 26m |
 SUPRA DISPLAY KEY AND IBOX READY USB CRADLE BY GE COMES WITH ALL CABLES $85.00 Time Remaining: 12h 25m Buy It Now for only: $99.00 |
 Master Lock 7113D Cash Box with 7 Compartment Tray $14.20 Time Remaining: 29d 5h 2m Buy It Now for only: $14.20 |
 08CF Digital Flat Recessed Wall Safe Home Security Lock Gun Cash Box Electronic $72.95 Time Remaining: 6h 55m Buy It Now for only: $80.95 |
 Amvault burglar safe Amsec TL15 $500.00 Time Remaining: 2d 3h 59m Buy It Now for only: $1,000.00 |
 ShurLok 48 Key Combination Lock Storage Cabinet $39.95 Time Remaining: 5d 9h 39m Buy It Now for only: $39.95 |
 Lockn Latch Steel Cash Box with Seven Compartments Key Lock $17.95 Time Remaining: 2d 14h 10m Buy It Now for only: $19.95 |
 Lock Box Door Hanger Universal Fit for All Realtor Real Estate Key Lockbox $5.00 Time Remaining: 20d 5h 40m Buy It Now for only: $5.00 |
 GE AccessPoint Portable Pushbutton Lockbox Holds 3 keys NIB Free Shipping $24.99 Time Remaining: 1d 9h 18m |
 REALTOR TYPE HANGING DOOR LOCK LOT 2 LOCKS MASTER VL $22.94 Time Remaining: 3d 9h 34m |
 24 HOOK KEY CABINET LOCKING WALL MOUNT BOX 24 TAGS $14.99 Time Remaining: 14d 2h 12m Buy It Now for only: $14.99 |
 OLD INTERIOR LOCKBOX FOUND IN DIEBOLD SAFE $31.00 (6 Bids) Time Remaining: 13h 51m |
 INFOBOX Outdoor Brochure Box Real Estate Literature Flyer Document Holder $16.00 Time Remaining: 20d 11h 30m Buy It Now for only: $16.00 |
 Two Supra Combination Lock Boxes Real Estate $17.99 (1 Bid) Time Remaining: 3d 7h 1m |
 Lockn Latch Steel Cash Box with Seven Compartments Key Lock $17.95 Time Remaining: 2d 7h 38m Buy It Now for only: $19.95 |
 08CF Digital Flat Recessed Wall Safe Home Security Lock Gun Cash Box Electronic $72.95 Time Remaining: 20d 2h 59m Buy It Now for only: $72.95 |
 American Lock 1305 Series lockout padlock in box bronze color $5.00 (1 Bid) Time Remaining: 4h 3m |
 MMF INDUSTRIES KEY LOCK BOX $4.99 Time Remaining: 4d 11h 54m |
 1 Realtor Real Estate Lockbox Key Lock Box Supra GE $15.99 Time Remaining: 15d 10h 6m Buy It Now for only: $15.99 |
 Digital Electronic Safe Lockbox Lock Box Jewelry Vault $42.29 (1 Bid) Time Remaining: 2d 13h 54m |
 TUBULAR LOCK CASH BOX LOCK BOX MANY USES ACE 2 LOCK $9.50 Time Remaining: 16d 21h 40m Buy It Now for only: $9.50 |
 Security Lock Boxes $9.99 Time Remaining: 4d 11h 53m |
 240 480 Volt AC Cord Lockout Device Red $1.96 Time Remaining: 3d 4h 30m Buy It Now for only: $12.36 |
 CAM LOCK DRAWER CABINET FILE BOX LOCKS BRASS KEYS $5.95 Time Remaining: 12d 11h 21m Buy It Now for only: $5.95 |
 120 Volt AC Cord Lockout Device Red $1.99 Time Remaining: 3d 4h 31m Buy It Now for only: $9.99 |
 08CF Digital Flat Recessed Wall Safe Home Security Lock Gun Cash Box Electronic $72.95 Time Remaining: 1d 6h 54m Buy It Now for only: $80.95 |
 LOCKBOXES Realtor Real Estate Lock Box 4 Digit Numeric $13.49 Time Remaining: 29d 9h 13m Buy It Now for only: $13.49 |
 Realtor Lockbox Sentrilock Generation 2 $40.00 (4 Bids) Time Remaining: 7d 8h 55m |
 Insta container lock box lockbox storage security $99.00 Time Remaining: 22d 17h 54m Buy It Now for only: $99.00 |
 08CF Digital Flat Recessed Wall Safe Home Security Lock Gun Cash Box Electronic $72.95 Time Remaining: 2d 6h 55m Buy It Now for only: $80.95 |
 Digital Electronic Safe Lockbox Gun Jewelry Lock Box $35.95 Time Remaining: 13h 2m Buy It Now for only: $39.95 |
 NEW 48 HOOK STEEL KEY BOX STORAGE W LOCK WALL MOUNTABLE $34.99 Time Remaining: 2d 12h 6m Buy It Now for only: $34.99 |
 VINTAGE METAL SAFE LOCK STRONG BOX WITH KEY INDUSTRIAL $75.00 Time Remaining: 3d 45m |
 KE MASTER Locking Key Storage Cabinet $20.00 Time Remaining: 5d 12h 26m |
 5400 Key Storage Boxes by Master $17.99 Time Remaining: 4d 2h 59m Buy It Now for only: $17.99 |
 9 Cam Locks Cabinet Drawer Box Lock 7 16 Keyed Alike Quality Made in the US $35.00 Time Remaining: 10h 42m Buy It Now for only: $38.50 |
 1 MFS Supply Alpha lock box NEW in plastic bag $9.99 Time Remaining: 26d 13h 51m Buy It Now for only: $9.99 |
 NEW Ryobi Tek4 Digital Key Lock Box with 4 Volt Battery and Charger RP4310 $24.99 Time Remaining: 5d 12h 33m Buy It Now for only: $29.99 |
 NEW SUPRA S5 Series COMBINATION KEY BOX Wall Mount $13.50 Time Remaining: 5d 6h 25m Buy It Now for only: $14.85 |
 T Handle Cam Lock For Enclosures Cabinets Desks Generators Boxes etc $6.53 Time Remaining: 23d 3h 24m Buy It Now for only: $6.53 |
 Real Estate Lockbox iBox Supra GE Key Box Lock Box InfraRed $50.00 Time Remaining: 4d 4h 6m Buy It Now for only: $100.00 |
 LOST KEY REPLACEMENT FOR RV LOCKS TOOL BOXES TOPPERS $7.99 Time Remaining: 19d 17h 32m Buy It Now for only: $7.99 |
 Lock Box Real Estate Realtor SHUR LOK $9.99 Time Remaining: 5d 17h 35m |
 2 Real Estate Lockbox iBox Supra GE Key Box Lock Box InfraRed $130.00 Time Remaining: 7h 58m Buy It Now for only: $199.00 |
 OFFICE DEPOT COMBINATION LOCK KEY CABINET 28 HOOKS WITH WALL MOUNT NIB FR SHIP $39.75 Time Remaining: 29d 16h 45m Buy It Now for only: $39.75 |
 2 Same Keyed 7KA Masterlock Padlocks All New In Box With 2 Keys Each Lock $7.99 Time Remaining: 13h 26m |
 10 Arcade Machine Cash Door Tool Box Tubular Cam Lock All Keyed alike 3 8XS $57.50 Time Remaining: 1d 10h 35m |
 LOCKBOXES Lock Box Realtor Real Estate Key 3 Letter $12.49 Time Remaining: 2d 5h 5m Buy It Now for only: $12.49 |
 Arcade Machine Cash Door Tool Box Tubular Cam Lock All Keyed alike 3 8XS $7.95 Time Remaining: 1d 9h 59m |
 Wall Mounted Key Storage Safe Lock Box Mount to WallAlpha combo $25.00 Time Remaining: 19d 3h 23m Buy It Now for only: $25.00 |
 Arcade Machine Cash Door Tool Box Tubular Cam Lock Keyed alike 5 8S $8.50 Time Remaining: 1d 10h 5m |
 8 Cam Lock Cabinet Drawer Box Locks 7 16 Keyed Alike Quality Made in the US $31.49 Time Remaining: 1d 3m Buy It Now for only: $34.64 |
 20 HOOK STEEL KEY BOX STORAGE W LOCK WALL MOUNTABLE $16.99 Time Remaining: 10d 23h 24m Buy It Now for only: $16.99 |
 Arcade Machine Cash Door Tool Box Tubular Cam Lock Keyed alike 1 1 8L $9.95 Time Remaining: 1d 12h 11m |
 Lockn Latch Steel Cash Box with Seven Compartments Key Lock $17.98 Time Remaining: 6d 2h 13m Buy It Now for only: $19.95 |
 Lock Box Bolt on Lock box for Containers $99.00 Time Remaining: 27d 3h 44m Buy It Now for only: $99.00 |
 30 KEY LOCKING LOCK BOX $10.50 Time Remaining: 5d 2h 25m |
 Electronic Key Storage Lock Box Combination Lockbox with Downloadable Access Log $79.99 Time Remaining: 23d 9h 36m Buy It Now for only: $79.99 |
 Arcade Machine Cash Door Tool Box Tubular Cam Lock Keyed alike 7 8M $8.95 Time Remaining: 1d 12h 20m |
 5 Arcade Machine Cash Door Tool Box Tubular Cam Lock All Keyed alike 3 8XS $31.50 Time Remaining: 1d 11h 54m |
 Safco Steel Suggestion Key Drop Box Comment Box NEW $49.95 Time Remaining: 29d 7h 32m Buy It Now for only: $49.95 |
 Lockn Latch Steel Cash Box with Seven Compartments Key Lock $17.98 Time Remaining: 6d 11h 38m Buy It Now for only: $19.95 |
Lock Boxes
Lock box - China caustic soda pearl - caustic soda solid
General
In general, a lockbox is a Post office box (PO box) that is accessible by the bank. A company may set up a lock box service with their bank for receiving customers payments. The company's customers send their payments to the PO box. Then the bank collects and processes these payments directly depositing them to the company's account. Typical costs are around $100 per month with per-item fees for basic service, and upwards of $500 for businesses with high check volume.
Lockbox services are sometimes called 'Remittance Services' or 'Remittance Processing'.
Wholesale and retail
Lockbox is generally divided into Wholesale and Retail. Wholesale lockboxes are for companies with small numbers of payments, sometimes with detailed requirements for processing. This might be a company like a dentist's office or small manufacturing company. Retail lockboxes are for companies with large numbers of payments, often with a standardized 'payment coupon'. These are often utility companies such as gas, electric, water, or cable tv companies.
Electronic conversion
Modern operations usually "capture" images of the checks and associated documentation (payment coupons, for example) into a digital format for use in computer systems (i.e., JPEG files). These files can then undergo data entry for further specialized processing. Banks often use specialized equipment that can scan hundreds, or thousands, of checks per minute.
Due to the Check 21 Act, some lock boxes even wholly convert some checks to electronic data, and the paper checks are shredded and never actually returned to the originating bank.
Online bill payment services
Many online electronic bill pay services are not 100% online. The payee might not be set up to accept electronic payments, so the bill pay service will have a computer print out large numbers of paper checks and mail them to the lockbox, where they will be processed alongside all the other paper checks.
Offshoring
Transferring data from paper to electronic format involves labor intensive data entry work. This has prompted a movement to offshore the data entry of the information on checks to countries with lower labor costs, such as India.
See also
Cash management
Remittance advice
remote deposit
References
^ http://www.sbnonline.com/Local/Article/13595/71/39/Checks_and_balances.aspx
^ See for example Carretek's advertising for Retail and Wholesale operations they do in India.
^ India Times article about ABN Amro transferring work (including lockbox work) to Chennai.
^ edata India's advert for 'lockbox processing'.
External links
National Check Fraud Center - LockBox Banking Pro & Con
This bank and insurance-related article is a stub. You can help Wikipedia by expanding it.
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Categories: Banking | Financial terminology | Bank stubs
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Accounting / Lock Boxes?
Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 400 payment a day will be made to lock boxes with an average payment size of $2,000.00. The bank's charge for operating the lock boxs is $.40 a check. The interest is $.015 percent a day/
a. If the lock box saves 2 days in collection float, is it worthwhile to adapt the system
b. What minimum reduction in the time to collect and process each check is need to justify use of the lock-box system?
If the mean check size is $2,000 and earns .00015 per day, a two day reduction in float would be worth, (2000)(.00015) or $.30.
Based on this alone, it's not worthwhile to open the lock box account. However, it also reduced the overhead in processing the checks, so I'd do it anyway.
If there was an average of 2.667 day reduction in float then it would be justified.
How to decode a Shurlok lock box