Washington Federal - Business Banking: Online, Checking, Credit | Washington Federal

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Lockbox Services

With Washington Federal’s lockbox service, we process your payments quickly and accurately, accelerating your cash flow and saving you valuable time.

Here's how it works:

Your clients mail checks to our post office box, where we pick up the payments and process them for you. We’ll deposit the funds into the proper accounts and report the day's activity to you electronically so you can update your accounts receivable.  Your staff no longer has to open envelopes, endorse checks, prepare deposits, or manually post payments.

We can work with any billing and accounting software and create custom reports to be delivered when and where you want them. In addition to the latest in lockbox technology, you have direct access to our Association Banking client service team.
 

eLockbox – Integrated web based service.

 

  • Research -  Search items processed through lockbox and view/print images of remittance & checks based on defined search criteria such as check amount, check number, date range and/or other identifying information.
  • Remote Scanning- Scan payments received in office via a desktop scanner directly into our lockbox system for same day processing. This saves you time in helping eliminate manual posting of payments received in office. It is ideal for clients who have multiple deposit accounts because you do not need to separate out the checks by account and make multiple deposits as you would with standard Remote Deposit Capture offered by most banks. You scan all the checks at once and we process them to the correct deposit account and include the information with your daily lockbox file just as if the payment was mailed directly to us.
  • Transmit Files- Securely Upload / Download daily accounting system files.
  • Establish Additional Users- Customer assign’s a main admin that has the ability to set up additional users and assign specific security authorization levels to those users.
  • Reports- Multiple Report options that allow customer to view daily rejected items, daily deposit totals and payment types processed.

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