Citibank^® SpeedCollect Wholesale Lockbox

Citibank^® SpeedCollect Wholesale Lockbox is an integrated outsourcing solution for efficiently collecting and reconciling your company’s local and foreign currency receivables. It can improve your collection process by accelerating availability and access to funds and payment information.

Linking with Internet-based billing processes such as Citibank® e-Billing, Wholesale Lockbox consolidates your incoming funds from a variety of payment methods, such as checks, electronic funds transfers, giros, etc. Payment data is enriched with additional remittance information from payers, then delivered to you electronically, either host-to-host or via CitiDirect® Online Banking.

With Wholesale Lockbox, you benefit from a more simplified reconciliation
process. The electronic file you receive contains information on your incoming receipts and associated invoice-level details, so you can automatically complete your reconciliation process.

SpeedCollect Wholesale Lockbox is particularly suited for you if your company closes its accounts receivables based on individual invoice numbers.