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Meaning of “lockbox” in the English Dictionary

"lockbox" in Business English

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lockboxnoun [C]

uk   us   /ˈlɒkbɒks/ BANKING
a ​serviceprovided by ​banks in which a company's ​customerssendpayments directly to a ​bank so that the ​money can be ​paid immediately into the company's ​bankaccount: lockbox facility/service Checks are ​sent to a ​postofficebox in Pittsburgh, to be ​processed through the bank's lockbox ​facility.
a ​strong, locked ​container used for ​storingmoney and ​valuable possessions: He has a lockbox at the back of the ​office where he ​storescash and other ​valuables.
(Definition of lockbox from the Cambridge Business English Dictionary © Cambridge University Press)
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“lockbox” in Business English

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