Lockbox

Business / Finance / Lockbox: A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. The banks make several collections per day, process the payments immediately, and deposit the funds into the firm's bank account.

Concession

Business / Finance / Concession: Movement of cash from different lockbox locations into a single concentration account from which disbursements and investments are made. MORE

Concentration Services

Business / Finance / Concentration Services: A single centralized account into which funds collected at regional locations (lockboxes) are transferred. MORE

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