How will lockbox be impacted?
Check 21 will enhance lockbox processing as the adoption of forward image exchange allows items to be cleared using the images we already produce as part of our lockbox service without having to transport the physical checks across the country. Processing lockbox checks occur before the check collection process takes place. Will other Treasury Management Services be impacted by Check 21? For those Treasury Management products that involve processing checks, we will continue to process payments using our standard procedures regardless if an item is presented as a check, image or substitute check.
