Welcome to Covenant Bank

Lock Box Service


STREAMLINE ACCOUNTS RECEIVABLES AND EXPEDITE FUNDS AVAILABILITY

HOW IT WORKS

Enroll in Covenant Bank's Lock Box service then invoice your customers as usual and direct them to send their payments to the Lock Box address – a special post office box in your company's name. A designated Covenant Bank representative will collect the payments from the post office box and promptly deposit the checks into your Covenant Bank business account, create an image of the check payment and pay stub, and store it on a secure website you can access any time. The Lock Box service creates business efficiency by eliminating the need for you to process and record accounts receivable into your system; and, at the same time provides faster access to available funds to maximize cash flow.

FEATURES OF LOCK BOX:

  • Bank collects and deposits accounts receivable payments
  • Bank creates and stores images of payments
  • Online report and images of payment are accessed easily


PROVEN BENEFITS INCLUDE:

  • Saves time and promotes business efficiency
  • Expedites funds availability
  • Provides accurate and timely record-keeping

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