Lockbox

A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box that the firm directs its customers to send payment to. The banks make several collections per day, process the payments immediately, and deposit the funds into the firm's bank account. The New York Times Financial Glossary

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lockbox UK US /ˈlɒkbɒks/ noun [C] BANKING
a service provided by banks in which a company's customers send payments directly to a bank so that the money can be paid immediately into the company's bank account: lockbox facility/service »

Checks are sent to a post office box in Pittsburgh, to be processed through the bank's lockbox facility.

a strong, locked container used for storing money and valuable possessions: »

He has a lockbox at the back of the office where he stores cash and other valuables.


Financial and business terms. 2012.

Look at other dictionaries:

  • lockbox — lock box , n. A box of strong and durable construction, fitted with a lock, used for the purpose of protecting valuable items, such as money or jewelry; a strongbox. [PJC] …   The Collaborative International Dictionary of English

  • lockbox — (obsolete) (See post office box) …   Glossary of postal terms

  • lockbox — [läk′bäks΄] n. 1. a box with a lock, used for securing items of value, as a safe deposit box, a strongbox, a post office box, etc. 2. an electronic device which can block designated cable TV channels to prevent viewing by unauthorized persons:… …   English World dictionary

  • lockbox — (1) A cash management arrangement designed to reduce delays in depositing funds into the payee s bank accounts. A post office box that is established by a bank to receive checks for its cash management customers. Lockboxes are utilized to… …   Financial and business terms

  • lockbox — noun Date: 1872 a box (as a post office box, strongbox, or safe deposit box) that locks …   New Collegiate Dictionary

  • lockbox — /lok boks /, n. 1. a strongbox. 2. a rented post office box equipped with a lock. 3. Also called lockout box. Television. a closed box, usually fitted with a lock, containing electronic equipment to unscramble cable television pictures for… …   Universalium

  • lockbox — noun A box with a built in lock …   Wiktionary

  • lockbox — In the USA, a Postal Service box used for the collection of customer payments. The recipient s bank will arrange collection from these boxes throughout the day, deposit the funds, and provide a computer listing of the payments with the daily… …   Accounting dictionary

  • lockbox — In the USA, a Postal Service box used for the collection of customer payments. The recipient s bank will arrange collection from these boxes throughout the day, deposit the funds, and provide a computer listing of the payments with the daily… …   Big dictionary of business and management

  • lockbox — n 1. strongbox, safe, vault, coffer, money box, treasure chest, treasury, repository; trunk, chest, case, casket, crate, coffret, locker. 2. mailbox, post box, box, postal or post office box, bin, hold, receptacle, Chiefly Brit. letter box;… …   A Note on the Style of the synonym finder

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