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CitiBusiness Online.  Solutions - Receivables
Solutions to Meet Your Needs
Account Management
Information Reporting
Receivables
Payables
Funds Management
Security and Accountability
Small Business
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CHALLENGE
You receive payments from various locations and don't want to waste time and resources processing the payments. You also want to reduce your collection float.
SOLUTION: Lockbox
Retail Lockbox processes payments for companies that receive a high volume of remittances with OCR-scannable coupons.
Wholesale Lockbox processes payments for companies that issue invoices with detailed information. It also lets your customer submit one payment for several invoices.
Receivables are sent directly to a P.O. box and are picked up several times daily. These funds are directly deposited to your account, so you have faster access to available cash.
Deposit report is based on your unique needs and report details can be faxed on the same day.
SOLUTION: Currency Services
An armored carrier picks up cash deposits and posts them to your account, giving you same-day availability that you can view online.
SOLUTION: Incoming Wire Transfers
Immediate access to incoming wire details
BENEFIT
Minimizes mail float.
Reduces clerical costs and improves productivity by reducing time away from work.
Improves cash flow and accelerates funds availability.