Will my customers know that their payments are being directed to the bank for processing?

No. Your customers will simply send their payments addressed to your company at a post office box controlled by us. Your customers will not have direct contact with our Lockbox Express staff. Of course, your customers would understand, if they learned you were using Lockbox Express, that you are just using it as a tool to streamline your receivables.

How do I direct my customers' remittances to the bank for Lockbox Express processing?

Once your Lockbox Express is set up, simply direct your customers to remit future payments to your company at the post office box we will assign to you. You may also print the new address on your remittance document (coupon and/or invoice) or use return envelopes as a reminder.

What types of payments are accepted?

Most methods of payment, (for example, check or money order) can be processed and imaged via the Lockbox Express system. Credit card processing is only available to Property Management Companies.

What options are available to block posting to specific customer accounts?

If there are specific customers' payments you do not want us to post, simply let us know and we will flag those accounts to prevent posting. We will forward the payment to you at your request.

What types of quality control systems are in place to ensure my payments are processed correctly?

Quality Control is constantly at the forefront of what we do. We utilize Optical Character Recognition (OCR) technology, bar code and the MICR line to validate the Account Number and amount-owing information. In additional, our trained professional staff uses a double-verification balancing process to ensure accuracy. We monitor timeliness, efficiency, and quality by continually reviewing processing benchmarks.

Is customer service for Lockbox Express provided?

Customer service personnel are available during normal operating hours and have immediate access to Lockbox Express transaction data. They can respond quickly to any questions you might have.

In what formats can I receive my reports?

Reports containing your imaged receivable documents can be created in a variety of formats including PDF, Comma Delimited, Word, Excel and Open Office. These reports can be distributed to Lockbox customers via our Internet Banking system, email, fax, or FTP site access. Also, we can provide a file that will interface to almost any A/R software package, please contact us for details.

What types of images are available?

Lockbox Express images your payment information - including checks, money orders and  payment coupons - and makes the information available to you via your Lockbox Express reports through our website at www.NewFirst.com or an encrypted CD.

How many days back can I view the reports?

Reports, check and remittance images can be viewed up to 90 days in Lockbox Express. Encrypted CD's of the check and the corresponding remittance document or documents customized by account, date range and many other custom sort options are available.

How do I know if Lockbox Express is cost effective for my business?

Several factors are used to look at the feasibility of a Lockbox Express process for your company including the average monthly dollar volumes and number of remittances received, the primary physical location of your customer base, etc. We can help analyze your individual receivables situation to determine if Lockbox Express is right for you.
 

Questions?

If you have additional questions, contact NewFirst National Bank for assistance.