NatWest is teaming up with G4S to launch the UK’s first safe with automated account crediting.

The NatWest G4S Intelligent Safe allows business customers’ accounts to be credited daily with their cash takings. Moreover, business owners avoid the need to leave their business premises to visit a branch.

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Specifically, Intelligent Safe securely counts and validates cash as it is deposited into the safe. Subsequently funds are guaranteed once deposited. As a result there is no need for businesses to ‘cash up’ each day.

The NatWest G4S Intelligent Safe automatically triggers a cash collection once per week or when a pre-agreed threshold is met. Hence the safe never reaches its maximum capacity.

In summary, cash reliant businesses benefit from the efficiency, cash management and security features of the safe’s technology.

NatWest G4S Intelligent Safe: advanced note verification scanning

The NatWest G4S Intelligent Safe uses advanced note verification scanning. This spots forged or invalid notes as they are inserted into the safe. It also allows businesses to hold their cash securely onsite. Accordingly, it reduces losses due to administrative errors and fraud.

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And it enables consolidated reporting of takings at the end of day where businesses have multiple outlets.

Paul Thwaite, CEO, Commercial, Private Banking, NatWest, says: “We’re committed to using technology to find innovative ways to improve efficiency. And enhance our customers’ experience.

“It is an efficient, secure cost effective way for cash reliant businesses to have quick access to that day’s takings. And without making a trip to their local branch. This improves cash flow and allows them to spend more time running their business.”

Paul Van Der Knaap, Strategy & Business Development Director G4S Global Cash Division, adds: “The payments landscape is changing. Cash remains vital because choice of payment is important for UK consumers.

“G4S continues to invest in cash technology and to work with customers and financial institutions to improve the efficiency and ease of using cash. We are delighted to be partnering with NatWest to offer UK businesses our truly innovative cash technology solution.”