PNC offers a convenient way to help you process those payments efficiently, get up-to-the-minute data on funds availability, and maximize your cash flow. Our retail and wholesale lockbox solutions can help you simplify your accounts receivable administration.
Our wholesale lockbox solution is designed for companies that have customer relationships nationwide. A/R Advantage offers a comprehensive suite of innovative services designed to assist you in managing your daily accounts receivable position. This advanced receivables solution accepts paper (check) and electronic (Automated Clearing House, Wire and credit cards) payment formats and consolidates them for efficient reporting, cash application and information management.
A PNC wholesale lockbox solution allows you to channel payments through our local processing centers, located in Atlanta, Boston, Chicago, Cleveland, Dallas, Los Angeles, Philadelphia and Pittsburgh, while receiving funds through one centralized PNC account to facilitate cash flow management. You'll receive consolidated reports on funds availability, and data from each lockbox site will be forwarded in a single transmission. Reduce the time you spend consolidating information from multiple service providers and enjoy quicker availability of funds. Processing customer payments from multiple locations and managing your cash flow just got a whole lot easier.
With PNC Bank Canada Branch’s ("PNC Canada") A/R Advantage solution your company can now process your Canadian receivables using state-of-the art technology and advanced service options. We provide comprehensive and cost-effective access to your funds, while meeting your company’s specific posting information requirements.
Remittance information from checks processed at the PNC Canada lockbox site can be combined with information from PNC Bank’s U.S. network, for a single stream of information reporting.
A/R Advantage provides you with same-day access to full-color check images, helping to reduce your storage costs and enhancing your search capabilities. Remittance and check images are updated online daily. Advanced processing solutions, including Remittance On-Site, Workflow Manager, and Exception Manager, are also available at PNC Canada’s Toronto site.
PNC leads the way with new technology that provides companies with the ability to capture check stubs, full-page remittance documents and envelopes right from their office. Remittance on Site (ROS) gives clients the ability to capture and submit images of the checks and the documents they receive, eliminating the need to mail anything to their lockbox.
If your company receives a large volume of customer payments, processing those payments and updating customer accounts can be a labor-intensive process. When you establish a lockbox with PNC, your customer payments will be processed through our centers in Atlanta, Charlotte, Chicago, Dallas, Los Angeles, New York, and Philadelphia. We employ advanced technology to speed processing, and funds are automatically routed into one central PNC account to help you effectively manage your cash flow.
Not only can a PNC retail lockbox save you time and reduce your costs, but it can also minimize remittance float and provide one, integrated image-based stream of cash application data. Moreover, the timely and accurate data we make available online will help you update account records quickly and provide even better service to your customers.
Please contact your Treasury Management Officer or Treasury Management Client Care (TMCC) at 1-800-669-1518 with any questions.