Lockbox Processing: Changes effective July 19, 2021

Client mail returned to sender

Client mail will no longer be returned to the client if it has a J.P. Morgan Lockbox return address. Instead, it will be processed and images will be available on Receivables Online for review. Any checks enclosed may be deposited back into the client’s account. To avoid this, be sure to send mail using your business’s return address.

Checks with missing dates or signatures

If a check meets all other processing requirements, it will be deposited.

Checks with a blank or missing payee

If your Lockbox is set up for "Accept All Payees," and the check is addressed to the correct Lockbox, these checks will be deposited.

Checks with differing amounts

Checks will be processed using the legal (written) amount, including instances where the legal amount and courtesy amount (numerical) differ.

Daily end-of-capture (for clients who do not receive a daily transmission file)

Daily end-of-capture will be 3 p.m. Central Time. This means that after 3 p.m. CT, work is no longer introduced into the system for same-day processing. For clients with an end-of-capture time before 3 p.m., this change will result in more same-day processing of transactions.

Restrictive notations

Notations will be handled consistently with no separate handling for different formats (i.e. printed vs. typed vs. handwritten).

Economy Lockboxes

Economy Lockboxes can no longer receive foreign item deposits (non-U.S. and non-Canadian items). To continue receiving foreign items, please contact your Customer Service Representative to upgrade to Wholesale Lockbox. 

Post-dated check review

For clients in the U.S. who subscribe to post-dated check review, a "post-dated check" will be defined as any check dated more than one business day from the date of processing. (Applies to U.S.-based lockboxes that require post-dated check review; does not impact lockboxes in Canada due to local regulations.)

Cash transactions

We will continue to deposit cash transactions; cash will never be returned to the client. We continue to strongly discourage the receipt of cash transactions.

Reports available on Receivables Online

For clients who use Receivables Online, the Advice of Credit, Check Detail Report, and Batch Summary Report will only be available on Receivables Online. Physical copies will no longer be mailed. (Clients who do not use Receivables Online will continue to receive paper copy reports.)