The new solutions include Remote Cash Deposit and the DTS tracking system. Remote Cash Deposit allows customers to electronically deposit cash, consolidate depository banking relationships, reduce armored car pickup frequency and increase security.
With the DTS Tracking System, businesses can monitor deposits from the time of preparation at the store location until they are processed and credited at the bank. This allows retailers to manage their overall deposit process from a central location. The system makes it possible to identify early on if a store’s deposit is missing, late or has a discrepancy that needs quick resolution.
US Bank cash vault services offers traditional cash processing at 45 locations across 23 states and Washington DC. The vault network can accommodate cash deposit and purchase needs for business customers, correspondent banks and government entities.
Moreover, US Bank has partnered with Brink’s to use their CompuSafe product line. Business customers deposit currency into a Brink’s CompuSafe and electronically receive collected credit to their US Bank depository account the following business day.
Bill Burback, vice president of global treasury management at US Bank, said: “Remote cash deposit is designed to mitigate the risk of fraud and reduce labor expense associated with cash handling, while also increasing staff safety and productivity.
“And with the DTS Tracking System, retailers can have improved and early access to detailed deposit information that allows the corporate office to adjust individual store processes and procedures for quicker and more efficient deposit processing. The cash vault’s advanced cash credit & notification enhancements give our business customers a powerful way to better manage their cash handling needs.”
