A lockbox is a secure container used to store valuable items, documents, or cash. It typically features a locking mechanism to prevent unauthorized access, making it a popular choice for individuals and businesses that need to safeguard important materials. Lockboxes can vary in size and design, ranging from small personal safes to larger models used in commercial settings. In finance, a lockbox system is a service provided by banks to streamline the collection of payments. Businesses use this system to have customer payments sent directly to a designated post office box, where the bank collects and processes them. This helps improve cash flow and reduces the time spent on payment processing.