Lockbox
nouncandidate·updated May 9, 2026
Deposit mechanism used by commercial firms and businesses to facilitate their deposit transaction volume. Typically, commercial firms and businesses direct customers to send payments directly to a financial institution address or post office box controlled by the institution. Financial institution personnel record payments received and prepare deposit slips, and subsequent processing proceeds as with other deposit taking activities.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
- §1
- Deposit mechanism used by commercial firms and businesses to facilitate their deposit transaction volume. Typically, commercial firms and businesses direct customers to send payments directly to a financial institution address or post office box controlled by the institution. Financial institution personnel record payments received and prepare deposit slips, and subsequent processing proceeds as with other deposit taking activities.