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:
“They learned to rattle the lock and key
To give whatever might chance to be,
Warning and time to be off in flight:”
—Robert Frost (1874–1963)
“We are little airy creatures,
All of different voice and features:
One of us in glass is set,
One of us you’ll find in jet,
T’other you may see in tin,
And the fourth a box within;
If the fifth you should pursue,
It can never fly from you.”
—Jonathan Swift (1667–1745)