This service provides a way to significantly lower your administrative costs and improve your working capital by expediting the collection, processing, and depositing of low-volume, high-dollar corporate-to-corporate payments into your account.
Your payments are mailed directly to an exclusive post office box that Sovereign maintains on your behalf, which results in reduced mail float. Sovereign's lockbox staff then receives, processes, images, and deposits these payments.
Couriers make several daily pickups to multiple post offices in order to convert receipts more quickly to cash.
We also provide detailed daily reporting of receipt information to allow your company to maintain control over the process.