Lock Box
Typically when customers pay bills with cheques (like gas or water bills), the mail will go to a "lock box" at the post office. There a bank will pick up all the mail, sort it, open it, take the cheques and remittance advice out, process it all through electronic machinery, and post the funds to the proper accounts. In modern systems, taking advantage of the Check 21 Act, as in the US, many cheques are transformed into electronic objects and the paper is destroyed.
Read more about this topic: Cheque
Famous quotes containing the words lock and/or box:
“then take off your flesh,
unpick the lock of your bones.
In other words
take off the wall
that separates you from God.”
—Anne Sexton (19281974)
“Youre the most beautiful woman Ive ever painted. Not because youre beautiful but because Im in love with you. Hopelessly in love with you.”
—Muriel Box (b. 1905)