To make it even easier for your agency and our mutual customers to do business with Frankenmuth Insurance, we’re pleased to announce that Billing Services has partnered with JPMorgan Chase to provide Lockbox and E-Lockbox services to streamline the receipt of check payments.

What is Lockbox?

Lockbox is a functionality that enables JPMorgan to process incoming checks on our behalf, resulting in faster payment posting for agencies and policyholders. Other benefits of Lockbox include streamlined bank deposit processing and reduced mail delivery service time to our lockbox location.

What is E-Lockbox?

With all of the same benefits as our Lockbox service, E-Lockbox also enables us to receive payments electronically that have been made through online bill payment platforms, such as when a policyholder utilizes their financial institution’s online bill pay option to submit a payment. When using this method, it is important that policyholders ensure accurate account information is included when they submit or schedule a payment.

There is no action that agencies or policyholders need to take in order to take advantage of Lockbox or E-Lockbox services. If a policyholder mails their payment, the payment remittance coupon will include a new mailing address. During this transition, however, we will continue to process any check payments that are delivered to our Home Office.

In addition, EFT forms will no longer be included with invoices. These are being removed as JPMorgan will be processing payments from remittance coupons. To access our EFT form, please visit our website.

We are confident that this partnership will enhance our team’s ability to deliver exceptional service during the payment process for your agency and our mutual customers.

Should you have any questions, please contact Billing Services at (844) 488-9777 or send us an email at billing@fmins.com.