Back to Wholesale Lockbox

When you choose to outsource the collection and depositing of your customer payments using RBC Express^® Wholesale Lockbox, you and your business will realize a number of benefits:

• Your money will be in your account sooner.
• You’ll free up valuable in-house resources.
• You’ll save space and reduce paper waste.
• Your data will be more secure.

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How RBC Express Wholesale Lockbox works

1. Your customer sends cheques to a bank-administered post office box
Cheques are processed and deposited into your account each night and funds are available the next business day.

2. You receive receivable details online
Through RBC Express customized online banking, you will have daily access to summary reports of the day’s deposits, including key information such as deposit amount, cheque serial numbers and date.

3. Your monthly backup is taken care of
Every month, you will receive a password-protected and encrypted CD containing a complete summary of all receivables-and-deposit activity, including images of all the materials processed.

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