lockbox (Meaning)
lockbox (n)
a fireproof metal strongbox (usually in a bank) for storing valuables
Synonyms & Antonyms of lockbox
lockbox Sentence Examples
- The company implemented a lockbox system to expedite check processing.
- The lockbox is designed to shorten the time between receipt of payments and crediting them to the company's account.
- The lockbox is located at a strategic point near the customers who make the most payments.
- Checks mailed to a lockbox are automatically processed, reducing the need for manual handling.
- The bank collects the checks and sends the proceeds directly to the company's account.
- The lockbox provides greater control over the collection of payments, minimizing the risk of fraud.
- The efficiency of the lockbox system has resulted in improved cash flow for the company.
- The lockbox is equipped with electronic scanning technology to capture check data accurately.
- The company monitors the lockbox balances daily to ensure timely posting of payments.
- The use of a lockbox has significantly reduced the administrative costs associated with payment processing.
FAQs About the word lockbox
a fireproof metal strongbox (usually in a bank) for storing valuables
footlocker, vault, coffer, coffin, safe-deposit box, safe,strongbox, compartment, casket,crate
No antonyms found.
The company implemented a lockbox system to expedite check processing.
The lockbox is designed to shorten the time between receipt of payments and crediting them to the company's account.
The lockbox is located at a strategic point near the customers who make the most payments.
Checks mailed to a lockbox are automatically processed, reducing the need for manual handling.
