Secure cash handling, cash activity tracking, closed-loop cash reconciliation, reduced shrinkage and automated reporting.Contact Us
Vault Services Details
Is your business interested in mitigating risk and improving profits? Cadence Virtual Vault service can help you manage your cash handling needs so you can worry less about risk and focus your time on growing your business.
With Cadence Virtual Vault service, we focus on taking care of your cash-handling needs by partnering with Loomis, one of the nation’s leading cash handling service networks. As a business owner, you all too often must focus your time and energy on micro-managing each step of your cash handling process: manually counting cash, preparing and making deposits, and attempting to control cash shrinkage. This takes away valuable focus from your business and frequently results in lost sales and profits.
How Vault Services Works
We have teamed up with Loomis to provide Virtual Vault services to your company to help you streamline your armored courier deposits and banking relationships across the continental United States.
How Deposit Processing Works:
- Daily deposits are collected within a marketplace by your armored car provider and delivered to Cadence Bank’s virtual vaults for processing
- Deposits are tracked by client account/customer name and detailed deposits are then balanced and transmitted to Cadence Bank
- Deposits are credited within 24 hours and available deposits can then be swept or invested
Coin & Bulk Cash Processing Options:
- Coin Sorting – Verification and separation of coin and mixed denomination or same denomination
- Coin Wrapping – Wrapping in denomination; processing includes boxing of wrapped coins in 50 roll boxes
- Bulk Cash Processing – Commercial/Retail currency and coin change orders to support the store location sales activity
Benefits of Virtual Vault Services
Cadence Virtual Vault offers secure cash handling, cash activity tracking, closed-loop cash reconciliation, reduced shrinkage and automated reporting. These features combined can help save your company time and energy, as well as provide:
- Greater Security – Direct delivery of deposits via armored service to Cadence Virtual Vaults drives down chance for theft.
- Cost Savings – Consolidated accounts at one bank means fewer accounts and fewer bank fees. Use of armored service also results in lower insurance costs.
- Improved Cash Flow – Deposits are credited within 24 hours and available deposits can then be swept or invested.
- Fraud Protection – Deposit reporting at the account and store level allows for more timely account reconciliation and better fraud protection.