The world's local bank
Whether your organization processes less than 100 payments each month, or thousands, HSBC Bank Canada can provide a wholesale lockbox solution that fits your specific business needs and priorities - helping you reduce mail and processing float and eliminate costly, time-consuming in-house procedures.
We handle the entire cheque collection process for you - from opening the mail to providing you with timely access to your remittances and details about them.
All you need to do is instruct your customers to settle their bills by mailing a cheque along with supporting information (or documentation) to HSBC via an assigned Post Office box. HSBC then processes the contents, deposits the cheques directly to your account and makes available receivable information online, including remittance images and deposit details.
Key Benefits and Features
- Six strategically located lockbox processing sites located accross Canada in Toronto, Montreal, Vancouver, Calgary, Halifax and Winnipeg
- Same day value received for Canadian and US Dollar deposits
- Choice of remittance information delivery (Paper, Fax, CD, Online or Electronic data file delivery)
- Option to receive remittance information in electronic file format (CSV, BAI2, EDI823, TXT) to facilitate integration with your receivables system and reduce manual data entry
- Wide array of reporting options: Paper, Fax, Internet reports and Electronic data
- Flexible processing and reporting cut-off times
- Timely retrieval of lockbox receivables information and images with Wholesale Lockbox Online Image Access via HSBCnet.
