Our Lockbox service is an effective cash management tool that can improve your cash flow. It speeds up collection of Homeowners Association (HOA), Common Interest Development (CID) or Planned Unit Development (PUD) assessment. With HOA Lockbox1, we establish a post office box for your management company. From there, assessment payments can be quickly delivered, processed and deposited into your HOA accounts each day.
Why Work with Alliance Association Bank?
Our HOA Lockbox saves you time and money, while improving efficiency, since it:
- Reduces internal processing and handling.
- Eliminates preparing deposits and making trips to the bank.
- Speeds up receivables collection.
- Provides daily remittance information and thorough documentation of all activity.
More Accuracy—and Less Hassle
HOA Lockbox can help you:
- Reduce your clerical workload.
- Gain outside audit control.
- Enjoy timelier updating of accounts receivable ledgers.
- Review deposit reports online.
1. Funds deposited through the Lockbox will follow Western Alliance Bank’s funds availability policy as outlined in the Deposit Account Agreement Disclosure.