Lock box functionality

Can  lockbox functionality in SAP be used for  country Australia or the lockbox can only be implemented for the US country.Will each payment method(ex:checks,credit cards,ach) for each of them should have a different locbox.Will creditcards have a lockbox or is it just a separate file to be asked from bank based on the payment method we want.
Thanks.

Hi
If bank provides the lock box facility in your country you can apply for the facility. This is not only for US. Lock box facility is given by bank for the receivables of company and not for the outgoing payments. The payees can drop the check in the lock box provided for your company at bank. This will reduce the time for encashment of check amounts. Credit card means you have to pay the amount to bank which is issued the credit card. So it will not come into lock box concept.  I think now you clear about the concept of lock box. Reward me if you satisfied with my answer.

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