Lockbox

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Lockbox


Am I a good candidate for Lockbox?

  • Does your company receive payments via the mail?
  • Do you have someone on staff who is responsible for going to the Post Office to collect payments received?
  • Are you spending too much time preparing checks for deposit at your bank?
  • Do you send someone to the bank daily to make deposits, or do you "hold" several days' worth of payments so that you only have to make one trip to the bank?
  • Do you make photocopies of checks and other remittance materials received?
  • Are you concerned about separating the posting and depositing functions within your organization?

If you answered "yes" to any of these questions, you are a good candidate for our Lockbox service.

Anchor Commercial Bank has a full-time department that provides an extensive range of products for management companies and homeowners associations. All payments are mailed to our post office boxes in Palm Beach Gardens and our courier service picks payments up for processing up to four times daily. Anchor has a dedicated staff with the expertise to meet the needs of associations of all sizes. We are prepared to meet with your Board of Directors at your convenience and to provide detailed presentations of our services.

Receive, Deposit and Post Payments - Automatically

If your business is receiving payments by mail, Lockbox Services from Anchor Commercial Bank will save you time and save you money, too. Here is how our service can help you.

  1. We receive your mailed payments
  2. We do all the processing in house
  3. We balance and make your deposit
  4. We report each transaction for posting to you - or directly to your computer

Lockbox Processing

Anchor is staffed with the most experienced and dedicated staff in the industry. We use state of the art software that is customized to your system. In fact, our in-house staff has been an integral part in the enhancement of the software used by others in our industry.

Use ACB's Lockbox Services to YOUR Advantage

  1. Outsourcing to Anchor Commercial Bank is cheaper than doing it yourself, plus you can reallocate your employee resources
  2. Improved Cash Flow - Deposits are made directly to the associations account.
  3. Local Processing- in house processing in Palm Beach Gardens
  4. Proven Lockbox system- 20 years of lockbox experience
  5. Better Information -Same-day custom reporting of critical payment data via secure internet site

Lockbox Checking

Our Lockbox Checking account offers your association a preferred tiered account with a high rate of interest and unlimited check writing with no minimum balance requirements. Your association will also receive preferred rates of interest on certificates of deposits. Also, in a case of emergency we will release the funds without penalty.

Association Loans

Anchor is committed to providing financing to associations for various requirements from general repairs and maintenance to insurance premium financing. We pledge to give the association an answer within 24 hours. Anchor has funded millions in association loans and can typically close with a limited cost to the association.