BB&T Corp. plans to introduce online processing of lockbox exceptions next month to expedite the handling of incomplete or problematic payments, such as checks that lack a remittance coupon or have an invalid payee name.
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The $132.6 billion-asset Winston-Salem, N.C., company said last week that it will offer the BB&T Lockbox Web Exceptions service to all its lockbox clients, including wholesale, retail, and "wholetail" clients who receive both business and consumer payments at a single mailing address.
A three-month test of the service is nearly completed, BB&T said.
