DETROIT, Sept. 27 /PRNewswire-FirstCall/ -- Comerica Bank today announced the launch of a new lockbox service that will enable small business owners to manage their incoming payments more effectively. Called "Classic Lockbox," the service is aimed primarily at small businesses having a low volume of payments.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
Many banks such as Comerica offer lockboxes -- a collection and processing service for companies -- in which payments to them are collected from a dedicated postal box, processed and then deposited.
What sets Comerica's lockbox services apart from the competition are the array of options available to companies of all sizes having different payment volumes.
"We believe our lockbox services appeal as much to the small business owner and manager as they do to treasurers at Fortune 500 companies," said Daniel J. McCarty, senior vice president and director of Treasury Management Services. "That's because our services are customized to meet their distinct needs. We're a one-stop shop for lockbox services and customers appreciate that special distinction."
In addition to Classic Lockbox, Comerica offers three other types of lockbox services:
* Wholesale Lockbox - for companies with low volumes of high-dollar payments; * Retail Lockbox - for companies with high volumes of low-dollar payments; and * Wholetail Lockbox - which combines the characteristics of both wholesale and retail processing for payments.Comerica offers many lockbox options and features at its five processing sites: Dallas and Houston, Texas; Detroit, Michigan; and Redondo Beach and San Jose, California; including online information reporting and advanced image services.
For more information on Comerica's leading-edge lockbox services, visit http://www.comerica.com/ .
Comerica Incorporated is a financial services company headquartered in Detroit, strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $57.1 billion at June 30, 2006. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts .
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Wayne Mielke (Michigan, Florida), +1-313-222-4732, Barry
Holtzclaw (California, Arizona), +1-408-556-5111, or Sally Crocker (Texas),
+1-214-969-6400, all of Comerica Bank
Web site: http://www.comerica.com/
