Lockbox

Lockbox,

Definition of Lockbox:

  1. A type of banking related service whereby the bank obtains payments to a company from a postal box and then subsequently will then deposit those payments into the bank account for the company. Typically this service is only offered if the company is receiving large amount of money on a regular basis.

  2. A lockable container, typically for storing money or valuables.

Meaning of Lockbox & Lockbox Definition