Lockbox
banking is a service provided by banks to companies for the receipt of
payment from customers. Under the service, the payments made by customers are
directed to a special post office box, rather than going to the company. The
bank will then go to the box, retrieve the payments, process them and deposit
the funds directly into the company bank account.
E.g.
Lockbox banking helps the U.S. treasury collect tax payments
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Thursday, May 25, 2017
Lockbox Banking
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