Get rid of the cash risk with Bank Direct Collections
How it works
We, in partnership with cash-in-transit companies, collect bulk cash and cheques from your premises and deposit the funds into your account.
Cash in transit works in the following ways:
- We agree on the frequency of collecting money from your premises.
- We, through a security company, collect money from your premises and deliver it to the bank.
- We then deposit the money into your account.
- The security company collects money from your premises.
- They count and verify the amount in your presence.
- And they give you a receipt.
- The liability at that point shifts from you to us.
- We station a teller at your premises for an agreed period to handle your needs.
- The security company picks up the teller and the cash at the end of the day.
In addition to our cash and cheque bulk collections, we provide trained personnel to handle collections at your premises.
The cashier, or teller, manages the acceptance, processing and handling of cash and cheques, including the preparation of deposits via cash and cheque bulk collection.
Save time with Bank Direct mail. We collect non-cash items such as cheques, instructions, treasury confirmations, trade documents, and chequebook requests and deliver these to the bank on your behalf.
Our bill validation solution ensures 100% accuracy of the information we capture during over-the-counter collections.
The bank authenticates narrations provided by your customer against a database of the payer’s details provided by you.
This makes for easier reconciliation and accurate data capture, enabling you to directly use the bank statement for updating your operating or accounting systems.
You can do your cash collections at any of our branches.
Deposits done at the branch require the depositor’s unique reference. Your unique reference facilitates over-the-counter cash, cheque and account transfers across all our branches countrywide.
Depositor information is available to you instantly, making your reconciliation process easier.