Can AAFS process payments that are not accompanied by a coupon or invoice tear-off?
Yes, the AAFS lockbox team aims to process 100% of all payments received. Although we prefer to receive both a coupon and a check to ensure accurate and efficient posting of payments, we can process payments that arrive without a coupon or invoice tear-off. These payments, typically referred to as check-onlys, are processed using the information included on the check. If we are able to accurately validate the account number and/or homeowner information, the payment will be processed. If we are unable to validate this information, the payment is returned through an automated process to the community management company where additional information can be collected to ensure the processing and posting of the payment.
