With our Retail Lockbox service, we can help you convert your receivables into cash quickly, efficiently and accurately – so that you can maximize the use of your funds and eliminate the hours of manual entry.
Our Retail Lockbox offers a 24-hour high speed, fully automated remittance process. Payments are received through a unique P.O. Box and are processed based on business rules provided by you. The deposit is made directly to your account and remittance detail is electronically transmitted same-day for automated posting to your accounts receivable system. First Tennessee offers an excellent check clearing network for our Retail Lockbox clients, ensuring the best funds availability. Our image-based transaction process provides you with immediate access to remittance detail online.