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:
“As soon as you are in a social setting, you better take away the key to the lock of your heart and pocket it; those who leave the key in the lock are fools.”
—Johann Wolfgang Von Goethe (1749–1832)
“Nobody has ever before asked the nuclear family to live all by itself in a box the way we do. With no relatives, no support, we’ve put it in an impossible situation.”
—Margaret Mead (1901–1978)