Lockbox Services

First Guaranty Bank’s Lockbox Services allows organizations to “streamline receipts” by collecting payments into a customer’s business or commercial account in order to speed deposit processing and alleviate some of the bookkeeping workload.

Benefits include:

  • Multiple locations closer to your customers’ location
  • Likely to be faster than delivering to your business address
  • Shortened  processing time by having bank staff directly deposit payments into the bank account, ensuring payments are received and deposited same day
  • Lower internal processing costs, speed up collections, and convert their receivables into cash more quickly
  • Performed on a daily basis, so businesses can increase their control and efficiency in receivables management while improving audit controls and data security
  • Accelerate receivables and improve efficiency