NatWest has teamed up with G4S to pilot an intelligent cash management system for businesses that credits their accounts at the end of the day with their cash intake without having to physically deposit the funds at the bank branch.
The service effectively works as an on-site automated deposit system. Businesses deposit cash into a G4S device, the money is validated and accounts are credited daily. The cash is then securely held in the device until the Cash-in-Transit provider visits to pick it up.
Alison Rose, CEO, commercial and private banking, NatWest, says: "The intelligent cash solution is an efficient, secure and cost effective way for cash reliant businesses to have access to that day’s takings without having to make a daily trip to their local branch, allowing them to spend more time on running their business."