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Cost of maintaining an in-house lockbox vs. outsourcing to a bank
April 5, 2022
Q. Are there any benchmarks that compare the cost per invoice/check of running an in-house lockbox vs. outsourcing to a bank / non-bank provider?
A.
(Answered by the IOFM Advisory Panel)
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I took this question to my Corporate Treasury team for insights.
Considerations have been made here in the past to run an in-house lockbox, but this would require setting up a PO box, having someone retrieve checks daily, record the checks and then physically deposit them at a branch. Truth be told, it…
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