We no longer support this browser. Using a supported browser will provide a better experience.

Please update your browser.

Close browser message

As a global leader, we deliver strategic advice and solutions, including capital raising, risk management, and trade finance services to corporations, institutions and governments.

Learn more about our solutions:

  

Serving the world's largest corporate clients and institutional investors, we support the entire investment cycle with market-leading research, analytics, execution and investor services.

Learn more about our solutions:

  

We are a leader in investment management, dedicating to creating a strategic advantage for institutions by connecting clients with J.P. Morgan investment professionals globally.

Learn more about our solutions:

    

Our financial advisors create solutions addressing strategic investment approaches, professional portfolio management and a broad range of wealth management services.

Learn more about our solutions:

    

Leverages cutting-edge technologies and innovative tools to bring clients industry-leading analysis and investment advice.

Learn more:

    

The latest news and announcements.

Learn more:

    

For company information and brand assets for editorial use.

Learn more:

    

The latest news and announcements.

Learn more:

    

In a fast-moving and increasingly complex global economy, our success depends on how faithfully we adhere to our core principles: delivering exceptional client service; acting with integrity and responsibility; and supporting the growth of our employees.

Learn more:

    

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.

Learn more:

    

With over 50,000 technologists across 21 Global Technology Centers, globally, we design, build and deploy technology that enable solutions that are transforming the financial services industry and beyond.

Learn more:

    

Technology Banner

For general inquiries regarding JPMorgan Chase & Co. or other lines of business, please call +1 212 270 6000.

Learn more:

      

For general inquiries regarding JPMorgan Chase & Co. or other lines of business, please call +1 212 270 6000.

Learn more:

      

Treasury and Payments

The check is dead, long live the check

Wholesale lockbox may not mean much to the average consumer, but to businesses across the US, this method of check and payment processing is a critical part of driving business efficiencies and profitability. 


 

You write a check, you send it in the mail, you forget about it. But for companies across the country, this is just the beginning. While checks may no longer be the payments powerhouse they were in the pre-ecommerce era, they are still the backbone of many businesses, and the need to manage these accounts receivable is an important – and expensive – one.

Handling your own accounts receivables is difficult: it requires on-site staff, security measures, equipment, and the need to maintain an ongoing partnership with the postal service. You need to invest in technology, scanning equipment, and human capital... all of which is expensive.

Luckily for our clients, this is part of our DNA. We are continuously monitoring clients’ needs, keeping pace with technology, and investing in the best people. From the outside, it’s simple – the massive machine of our wholesale lockbox is behind it all.
 

Ongoing investment

The pandemic hit businesses and industries hard, but now that the smoke is clearing, J.P. Morgan is stronger than ever; we have invested and are continuing to invest millions of dollars to ensure that our product is top of the line.  With 12 wholesale lockbox locations and four of which are global hubs, we have the scale to continually provide this reliable service with no regional dependencies.

While many of our competitors have outsourced their lockbox service, we are committed to keeping this business in-house, and we see every day the impact that this makes to companies across the country. We have the flexibility and desire to make investment and process decisions that continue to improve the client experience. 

As important as product development is, our strength is in our people. With an average tenure of 10 years across our teams, we attract a wide array of talent, including colleagues from the Second Change Initiative, Autism @ Work and other Neurodiverse Candidate Programs, Year Up, and Veterans Jobs Mission.  This dedicated workforce kept the lights on, with minimal disruption, during the toughest part of the pandemic; we are all acutely aware that our clients depend on this cash flow, and it is imperative to maintain the service we provide. This continued investment in our people, and our product, ensures our clients can trust us to excel for them.
 

Benefits of wholesale lockbox

  • Cost. Clients no longer have to worry about the myriad expenses that are required to maintain the service.
  • Efficiency. The ongoing efficiencies that come from outsourcing your requirements.
  • Cash flow. Reduced DSO (days sales outstanding) resulting in increased client cash flow.
  • Ease. With accounts receivable comes a lot of paperwork, aligning invoices to payments, discounts and nuances. We take care of it all.
  • Resilient. Using our wholesale lockbox means minimal disruption, regardless of outside factors. 

 



See why J.P. Morgan was ranked as Number One wholesale lockbox provider
 


 

Stay informed and stay ahead with our monthly newsletter

Receive key updates and news with relevant actionable insights and best practices — including the latest intelligence on payments trends, digital innovation, regulatory change, ESG and sustainable financing and much more

Subscribe to THE MONTH IN…Treasury & Payments

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author nor J.P. Morgan makes any representations or warranties as to the information’s accuracy or completeness. The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments, and may not be construed as such.

JPMorgan Chase Bank, N.A. Member FDIC.

JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability.

© 2022 JPMorgan Chase & Co. All Rights Reserved

 

Treasury and Payments News