Simplify Your Receivables

Board of Treasury InvestmentsCash Management
Feb 24 2015

As participants in the State of West Virginia’s Board of Treasury Investments program, all state agencies and political subdivisions are eligible to use the lockbox processing services provided by State Treasurer John Perdue’s Office. The lockbox system can be utilized for processing payments made by check and capturing data from a coupon or stub. The applications for this system are numerous and can provide organizations with improved efficiencies in many areas of their operation.

Postal Processing Services

Our staff will manage all the manual labor related to the receipt of mailed payments for your organization. Through the use of efficient scheduling and multiple visits to the post office, the system includes assurances that no mail will remain in the post office box overnight. Our staff will acquire, open, sort and classify each piece of mail received on a daily basis.

Payment Capture and Digital Imaging

Payments that are received utilizing lockbox processing service are individually captured, encoded, endorsed, and imaged. Deposits are prepared and made daily and delivered directly to our investment account. Funds deposited are made available in your account the day after they are received by the State Treasurer’s Office.

Archiving

Documents received for processing through the lockbox system are secured and archived for your convenience. Upon your request, documents including the original coupons, stubs, envelopes and other supporting materials can be delivered to you. Images of checks, coupons and stubs are also available to you upon your request.

Customer Support

Our staff will perform research and provide electronic and verbal support to your staff when requested.

Fees

Reasonable fees are associated with the program. Those fees include post office box rental, stub printing and mailing, and programming. In addition to those fees, local governments also pay a small per item fee.

To learn more or sign up for the lockbox processing services click HERE. Those interested can also contact checkprocessing@wvsto.com.

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West Virginia State Treasurer's Office
1900 Kanawha Boulevard
Capitol Complex Building #1, Room E-145
Charleston, West Virginia 25305
304-558-5000 Toll Free: 800-422-7498

Copyright 2017 by West Virginia State Treasurer's Office