Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: BeverlyB7 who wrote (594)	12/10/1998 4:31:00 PM
From: BitWizrd	Read Replies (2) \| Respond to of 20297

Hi Beverly, A lock-box operation is a payment remittance service typically offered by banks to merchants of all sizes. If you look at the detachable coupon on most any bill, the address to which payments are sent is usually a lock-box set up by the bank in order to receive payments on behalf of the merchant. The lock box operation collects the payments and prepares them to be deposited into the merchant's bank account. The good operations then create an electronic file of which consumers paid how much to which account, and transmit that file to the biller. The biller refreshes their systems each day against the file, et voila, your payment is posted.