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Lockbox system

• A collection procedure in which customers mail payments to a post office box that is emptied regularly by the firm's bank, which processes the payments and deposits them in the firm's account. This system speeds up collection time by reducing processing time as well as mail and clearing time.

 
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Helping Disabled or Elderly Relatives With Money Management, Even From Far Away: Millions of people serve as financial caregivers for ill or elderly spouses, parents, children or other loved ones. They perform services that include paying bills, handling deposits and investments, filing insurance claims and preparing taxes. Because this role can be costly and physically and emotionally exhausting, especially for a caregiver who lives far away or has the usual time-demands, FDIC Consumer News offers some suggestions. More...

One of the strongest characteristics of genius is the power of lighting its own fire. John W. Foster

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