Vault Management Systems
We’ve invested heavily in our Vault Management System and are able to offer our customers a quicker, easier way to deliver cash deposits to their chosen bank.
Instead of making separate deliveries of customer cash to separate banks, customer cash is now collected and returned to our processing centre for settlement. Here, each job is processed, settled and cash is deposited to our physical vaults.
As this happens, we transfer the settlement amount from our virtual vault to the customer’s chosen bank electronically.
Our virtual vault allows for total electronic segregation of bank-owned currency, by denomination. This is unlike currency within our physical vault system, which is managed, and acts, as a single entity.
Advantages of the virtual vault management method:
- Reduced cash-in-transit time and cash handling by our personnel
- Just-in-time cash sourcing is available to our customers as physical cash within our vaults can be redistributed to businesses, bank and ATMs
- Whole amount electronic processing reduces physical cash movements between vaults and reduces the cost of handling cash
- Vault holding costs associated with physical cash are reduced or removed for our customers
- Cash in poor condition is returned to the Reserve Bank, and replaced with cash fit for recirculation.