http://www.careerramblings.com/2007/10/28/lockboxes/ Your Professional Development Mon, 21 May 2012 17:30:38 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.careerramblings.com/2007/10/28/lockboxes/comment-page-1/#comment-4911 Kolz Blog » Blog Archive » Lockboxes Wed, 31 Oct 2007 21:58:01 +0000 http://www.careerramblings.com/2007/10/28/lockboxes/#comment-4911 [...] Lockboxes October 28th, 2007 by syndicated In my previous posting, I wrote about Virtual PO Boxes. Another similar handy service I use for my own business is a lockbox, which is something my bank offers. It is basically a PO Box I use just for checks that are mailed to me, like for affiliate payments or invoice payments. I get over 100 checks like this a month, and with the lockbox my bank automatically deposits the checks to my bank account on a daily basis, and then sends me copy of each check for my records. Before I had a lockbox, I had to go to the bank several times a week to deposit checks (yes, I know, if having to go deposit money is my biggest problem in life, then I have it easy). Also, one time before I had the lockbox, I was out of town for 3 weeks, and checks piled up in mailbox but I had no cash in my bank account and I bounced some checks due to automated payments that were taken out while I was gone. So, having a lockbox solves this problem. For larger companies, another advantage of a lockbox is that you start getting interest right away on the checks you receive. Instead of having checks sit in a pile on your desk for several days earning no interest until you make a trip to the bank to deposit them, you start getting interest on them right away with a lockbox. Sometimes a company will enclose a letter or notice with the checks. My bank forwards those to me, so that is not a problem. The only downside to a lockbox is that it is expensive. I pay around $200/month, although there are probably ways to get one cheaper. Share This [...] [...] Lockboxes October 28th, 2007 by syndicated In my previous posting, I wrote about Virtual PO Boxes. Another similar handy service I use for my own business is a lockbox, which is something my bank offers. It is basically a PO Box I use just for checks that are mailed to me, like for affiliate payments or invoice payments. I get over 100 checks like this a month, and with the lockbox my bank automatically deposits the checks to my bank account on a daily basis, and then sends me copy of each check for my records. Before I had a lockbox, I had to go to the bank several times a week to deposit checks (yes, I know, if having to go deposit money is my biggest problem in life, then I have it easy). Also, one time before I had the lockbox, I was out of town for 3 weeks, and checks piled up in mailbox but I had no cash in my bank account and I bounced some checks due to automated payments that were taken out while I was gone. So, having a lockbox solves this problem. For larger companies, another advantage of a lockbox is that you start getting interest right away on the checks you receive. Instead of having checks sit in a pile on your desk for several days earning no interest until you make a trip to the bank to deposit them, you start getting interest on them right away with a lockbox. Sometimes a company will enclose a letter or notice with the checks. My bank forwards those to me, so that is not a problem. The only downside to a lockbox is that it is expensive. I pay around $200/month, although there are probably ways to get one cheaper. Share This [...]

]]> http://www.careerramblings.com/2007/10/28/lockboxes/comment-page-1/#comment-4890 Eric Mon, 29 Oct 2007 09:43:14 +0000 http://www.careerramblings.com/2007/10/28/lockboxes/#comment-4890 I use Bank of America for my lockboxes. I use Bank of America for my lockboxes.

]]> http://www.careerramblings.com/2007/10/28/lockboxes/comment-page-1/#comment-4887 nate Mon, 29 Oct 2007 06:35:37 +0000 http://www.careerramblings.com/2007/10/28/lockboxes/#comment-4887 Out of curiosity, would you mind telling us what bank it is you use? I've never heard of that service with any of the banks I've used. Although, maybe I should ask that question after I have the problem you've described. ;) Out of curiosity, would you mind telling us what bank it is you use? I’ve never heard of that service with any of the banks I’ve used. Although, maybe I should ask that question after I have the problem you’ve described.

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