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Professional Collection Services

Maximize your cash flow—with minimal effort.

With the right tools, efficient cash flow management can be effortless. Our comprehensive suite of electronic and paper-based collection services make cash management fast, easy, and accurate—so you can focus on moving your business forward.

Questions? Ask a Citizen.
Questions? Ask a Citizen.

Key Collection Services

Lockbox Network

Our multi-site national Wholesale and Retail lockbox networks speed and simplify the handling of large volumes of mailed checks. Instead of sending checks to you, customers send them to a designated P.O. Box so we can process them quickly—and you can access your funds faster. Lockbox provides fast, efficient, accurate collections, preventing the bottlenecks that happen when checks pile up, waiting to be endorsed or deposited manually. With Lockbox, you can: 

  •  Track customer payments more efficiently 
  •  View payment images using our accessOPTIMA™ application or have them sent electronically or by CD-ROM
  •  Automatically upload payment data daily into your A/R system 
  •  Receive accurate, timely, and flexible reports on deposits r  received, including exceptions and manual items flagged for your  attention

Electronic Receivables

Our electronic receivables capabilities include Automated Clearing House (ACH), Wire Transfer, Cash Concentration, and Electronic Data Interchange (EDI) collection services. These efficient collection processes post funds to your account quickly, allowing you to maximize earning credits and interest revenue.

Deposit Reconciliation

With Citizens Bank, you can simplify the consolidation of deposits from multiple locations into a single account, preventing auditing and reporting snags and easing the administrative burden on your accounting staff. Our deposit reconciliation service enables you to track deposits by location and department, general ledger, or any other meaningful accounting category. Sources of deposits are clearly identified on statements and deposit reconciliations, making it easy to identify deposits made at your home office and at satellite locations.

International Collection Services

Get the selection of services you need to manage international funds: 

  •  Foreign Exchange services help you assess currency risk and suggest strategies for protection from fluctuation in the currency  markets.
  •  Citizens Bank’s Wire Transfer service expedites the receipt and posting of funds received internationally. 
  •  Letters of Credit and Documentary Collections provide the collection support you need for international trade transactions.
  •  International Check processing enables checks that are drawn on a bank outside the United States to be deposited in a Citizens  Bank foreign currency account or USD account.

Remote Deposit Capture

Reduce prep time, save trips to the bank, and get quicker access to funds with E-Z Deposit® desktop check deposit service.

Coin & Currency Service

Provides maximum choice, flexibility and control in making cash deposits and sourcing the coin and currency you need to operate on a day-to-day basis.

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