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Chief Benefits Of Using Smart Safes For Cash–In–Transit

Chief Benefits Of Using Smart Safes For Cash–In–Transit
01 Apr 2020

Although digital transactions have somewhat minimized the transfer of cash and coins yet cash transfer remains because of transaction needs. For instance, the ATMs have to be filled with notes for the convenience of the public masses. So, the physical cash transfer is still a widely carried out profession in Brisbane. Despite its importance, cash transfer involves security risks. Thus, it is essential to hire the security persons dealing with Cash in Transit using smart safes.

Reasons for the Cash In Transit Professionals to Use the Smart Safes


As the professionals handling the cash in transit in Brisbane operate with perfection, they make sure to use the armored car. They pick up the cash, process them and deposit to the bank account at the earliest. They make sure not to delay as it further delays the retailer’s cash flow and workflow. So, the professionals abide by smart safes for optimizing their cash in transit service. Moreover, the cash in transit has integrated benefits of following the smart safes. Let us find out the benefits –

Cash has increased security


As the cash is placed inside the safes, it is insured. There is no possibility of loss. Cash exposure is never possible when it is inside the smart safe. There is no need for manual counting and handing. Thus, there are zero chances for the money to come under notice.

Reducing the Cash Transport


Cash deliveries and pickups fees usually go high, and the smart safes report the cash deposits directly to the retailers’ bank thus reducing the frequency of cash in transit pickups. The cash remains safe at the retailer’s bank until it has to be re-picked up. Customers receive credits for cash prior to depositing it to their account thus there is no need to deposit daily.
Rather, smart safes are storage devices, which are insurance rated. So, the cash on-site can be safely stored and consolidated with more deposits and then readied for pick up.

Speeding Up Access to the Working Capital


The smart safes and cash recyclers retain a completely electronic transaction record. Next, the financial institution receives the report on deposit data. Before the funds are deposited to the respective bank, the financial institution issues the merchants with the credits for funds. The retailer can use the funds for the important working capital, and again deposit the cash as they have the advantage of advance access to the credited funds.

Smart and instant visibility only by the retailers


Smart safes are connected to a network through which the retailers can track the cash through real-time reporting. The devices transfer data for every transaction to only the retailers to access. Real-time information is protected with data encryption technology. The smart safe even streamline the cash reconciling and balancing processes. In case of any suspicious activities, the loss prevention specialists are immediately reported.

Smart safes are indeed too helpful as the currencies are automatically verified once kept inside. The coins and counterfeit bills are checked. As the verification process goes on, the loss prevention specialists immediately receive the red flag notifications is there are any. Being tamper-proof, the smart roofs maintain a detailed and whole audit trail of transactions. Thus, there are no risks of internal theft.

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