SANDPOINT — Residents' money is going a lot farther these days since the city of Sandpoint engaged a lockbox service in Caldwell to collect utility payments. City official said they hope the new payment processing service will save municipal dollars while improving the efficiency of its billing and payment protocols.

"The decision to move to a lockbox service for mailed utility payments makes sense. The service not only provides greater efficiencies and added security measures, it also comes at one-third of the cost of having them processed on site," according to sandpointidaho.gov.

Residents still have the option of checking account balances and paying their bills by calling 855-819-0769 or paying online at the city's web portal through the same processing service. They can also drop off their payments during office hours at City Hall or in the drop box in the parking lot. Personnel will post hand-delivered payments each weekday morning, according to the city website.

Mailed payments go directly to a dedicated P.O. box in Caldwell, nearly 500 miles south. The service staff collects the envelopes, opens them and deposits the payments into the city's account.

Most organizations choose a nearby lockbox service, if one is available, so that payments appear in their bank accounts sooner. In the case of Sandpoint utility payments, residents should allow extra time for their remittances to arrive.

"Please note that the return address for payments is in Caldwell, Idaho .. the United States Postal Service (estimates) your payment may take 2–3 business days. Please plan your payments accordingly," city officials advise.

One of the benefits of using a lockbox service is heightened security because only qualified financial personnel will be handling payments. However, security is also one of its biggest challenges, according to Investopedia.

Sandpoint officials say that they have established a good relationship with the Caldwell service by working together in the past, and they have not encountered these types of problems.

"The company providing the lockbox service has a long history of excellence ... in their work with the department. They currently provide our billing and mailing service, host our online payment services, over-the-phone balance inquiries and payments, e-bill service and phone call campaigns," they said.