The company`s customers send their payments to the mailbox. Then the bank collects and processes these payments directly and deposits them into the company`s account. Typical costs range from several cents per transaction to a dollar or more. A locker is a secure repository that is essentially rented by companies to initiate the B2B payment process. “Lockbox Service” is a utility offered by commercial banks to facilitate the ebb and flow of business transactions and to speed up and simplify the collection and processing of receivables by sending payments and transfer documents from customers of these organizations directly to a location accessible to the bank. Springing Lockbox: The borrower, lender and lockbox bank execute the cash management/lockbox agreements at closing. .