Lockbox Services

AR-BOX® is our electronic lockbox solution designed for companies that receive a high volume of consumer payments electronically. AR-BOX allows billers to consolidate multiple online bill payment processors into a single customized posting file.

Convenient

  • Reduce administrative tasks
  • Eliminate manual posting of check and list payments
  • Ensure accurate account posting with online correction capability

Secure Information Management

  • Search transactions with easy-to-use web-based reporting tools
  • Reject or stop payments from posting electronically
  • Have multiple levels of access and security
  • Receive a single daily report including payment information from multiple processors

Cost Effective

  • Minimize processing costs
  • Receive consumer payments faster and improve cash flow

Our retail lockbox service is ideal for companies receiving large volumes of low dollar payments from customers.

Improve Mail Times

  • Unique ZIP code reduces mail float time1
  • Multiple daily mail pickups
  • Immediate delivery of incoming payments to our lockbox for processing

Automation

  • Payments are imaged as your mail is received
  • Payment data is captured to produce a standard text file for data transmission
  • Funds are deposited to your account

Easy Access to Images and Data

  • Images viewable online daily
  • Checks, coupons, invoices and reports accessible online the next day

Process Multiple Payment Options

  • Process check payments or online payments
  • Report all your payment information electronic through a single source

Wholesale Lockbox

  • Support receivables invoice documents that are a mix of traditional wholesale invoice payments and classic check/coupon retail payments
  • Receive wholesale processing using image, OCR and page scanning technology
  • Image data entry for non-scannable documents included

Web Exceptions

  • View and accept or reject exception transactions online
  • Provide missing remittance detail online

Accounts Receivable Check Conversion (ARC)

  • Accelerate funds availability by converting eligible checks to an electronic automated clearing house (ACH) transaction
  • Reduce return item losses by expediting funds clearance via ACH transactions instead of paper checks
  • Reduce conventional check processing fees

Our wholesale lockbox service is designed to process high dollar, corporate-to-corporate payments.

Improve Mail Times

  • Unique ZIP code reduces mail float time1
  • Multiple daily mail pickups
  • Immediate delivery of incoming payments to our lockbox for processing

Automation

  • Payments are imaged as your mail is received
  • Payment data is captured according to your setup instructions
  • Funds are deposited to your account

Multiple Service Options

  • Data entry of remittance detail and transmission
  • Processing foreign checks and credit cards
  • Customized options available

Easy Access to Images and Data

  • Images viewable online daily
  • Checks, invoices and reports accessible online the same day

Updating Receivables

  • Same-day lockbox deposit total
  • Detail reporting of magnetic ink character recognition (MICR) capture from checks
  • Data entry from checks and invoices

Wholesale Lockbox

  • Support receivables invoice documents that are a mix of traditional wholesale invoice payments and classic check/coupon retail payments
  • Receive wholesale processing using image, optical character recognition (OCR) and page scanning technology
  • Image data entry for non-scannable documents included

Web Exceptions

  • View and accept or reject exception transactions online
  • Provide missing remittance detail online

In addition to the benefits of our traditional lockbox service, our healthcare lockbox solution, BB&T Medical Data Lockbox, integrates healthcare provider's claims files with payment data and delivers a reconciled ready-to-post file that can be uploaded to the provider's practice management software.

BB&T Medical Data Lockbox

Automation

  • Paper Payments — paper checks with paper explanation of benefits (EOB)
  • Hybrid Paper/Electronic Payments — ACH payment with paper EOB
  • Electronic Payments — ACH payment with electronic remittance advice (ERA)
  • Correspondence with indexing and search capabilities

Reconcilement and Research Efficiency

  • Incorporate an EDI 837 claims file from the provider for reconcilement to payment
  • Produce a clean EDI 835 posting file back to the client
  • View not only the original EOB received within lockbox, but also the ability to view a clean virtual EOB by patient

Dedicated Medical Data Portal

  • Enjoy a robust web-based client portal designed specifically for healthcare providers
  • Produce and view numerous tracking reports
  • Monitor files for uploading
  • Search across numerous fields including patient name, claim or denial code

Improve Your Working Capital

  • Reduce losses due to excessive write-offs
  • Recover more revenue from denied claims
  • Reallocate employee resources to revenue-generating tasks
  • Decrease days outstanding for payment reconcilement

Get Assistance

By Phone

Call BB&T Treasury Management at 800-810-5625.

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