Our Wholesale Lockbox service helps government and institutional entities minimize collection float, maximize accuracy, and hasten the funds availability of low-volume, high-dollar consumer payments.
Remittances are mailed directly to an exclusive post office box that Sovereign maintains on your institution's behalf. 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 institution to maintain control over the process.
Access Your Accounts
Call 877.506.9352 to speak with a Government Banking Representative