Lockbox Payment/Remittance Processing

In addition to our industry-leading utility software, SEDC offers a convenient method for utilities to reduce the overwhelming burden of collecting and processing payments from their thousands of residential and commercial clients. Our lockbox service will cut your costs, help you achieve faster accounts receivable posting, and eliminate the need for in-house manual processing procedures.

SEDC’s lockbox service is an automated payment processing service for our utilities, in which our dedicated personnel handle all aspects of processing your payments. It works by having utility consumers mail their payments directly to our secure Lockbox Processing Facility, which collects all the mail numerous times each day. Payments are then extracted, remittance data is electronically captured, and payments are endorsed and deposited. Each business day, SEDC generates a daily file and applies the payments to your billing database. Reports are generated each step of the way, and funds are deposited to the financial institution of your choice.

By outsourcing your remittance processing to our Lockbox service, your utility will increase accuracy, save time, equipment expense, and money – plus, it will reduce office overhead and the payroll expense of needing your highly-trained employees to open mail and go on daily bank runs. SEDC’s Lockbox service costs just a few pennies per transaction, making it the most financially responsible way to process payments. And with SEDC’s reliable record of processing over 350,000 payments per month, you can be assured that your transactions are safe and secure.