What is it?

Our U.S. Dollar Lockbox provides you with a streamlined, problem free method of collecting the cheque deposits from your customers overseas, without the inconvenience and cost of establishing accounts with various banks across the United States.

How does it work?

	The U.S. Dollar Lockbox service is provided through Citibank in Delaware.
	Our U.S. Dollar Lockbox system utilizes a dedicated, unique zip code where excellent mail times and advanced automation minimizes collection time by reducing mail float.
	All of your customers’ deposits will be directed to a Lockbox at Philadelphia, Chicago or Los Angeles.
	Citibank’s nation-wide Lockbox network converts your receipts to cash as quickly as possible within a single stream format for all three sites.
	Processing occurs 24 hours a day, 6 days a week.
	Citibank provides both customized manual processing and automated processing and deposit information reporting.

What are the benefits?

	Service: Our implementation specialists and service representatives will be assigned to assist you during all aspects of the implementation.
	Information Control: Our services will furnish a wealth of reports designed to ease cash application, facilitate the resolution of queries and provide an audit trail. Same day transmission of remittance data via fax allows you to update accounts receivable files promptly for better credit control.
	Financial Control: Excellent mail times, frequent mail pick-ups, six-day processing, multiple daily deposits and direct sends reduce mail float and accelerate your funds availability. Additionally, balance information can be used to make investment decisions, all of which adds up to quicker receipt of information and better financial control.
	Quality: Independent researchers have ranked us as the leading cash management bank over the years. Our cash management services are used by more than half of the Fortune 1000 corporations. Our multi-million dollar investment in technology and processing facilities reflects our commitment to providing high quality Lockbox service now and for many years to come.

What are the requirements?

	You will need to have a New York Demand Deposit Account with Citibank N.A., New York.
	The necessary documentation needs to be completed.

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