top of page

Cash Management Systems

INTRODUCTION


Experts predict that the Coronavirus pandemic will hasten the decline in the use of cash as people make a long-term switch to digital payments.


Nonetheless, significant developments continue to take place in the manufacture and marketing of cash management systems (alternatively referred to as cash management machines or intelligent deposit safes).


These systems provide an end to end cash management solution whereby cash (notes and, in some cases, coin) is deposited into an “intelligent safe” which detects and removes counterfeit notes, counts and records the value and time of the deposit and user ID for each transaction and issues a receipt.


Managers/business owners are able to log into the system either locally or via the internet for auditing and reporting and, where required, an online connection to the company’s bank account can be incorporated. Deposited cash is held in the machine in cash bags and cassettes, pending collection by a cash services company. In addition to receiving cash, some machines also have the facility of dispensing cash, such as the issue of point of sale cash floats at the beginning of the working day or shift.


The benefits of such systems are purported to include:


  • Lower operating costs

  • Remote real time management of all cash activities

  • Reduction in opportunities for staff fraud

  • Improved cash flow

 

HARDWARE AND CASH RATINGS


Leading companies involved in the manufacture and/or supply of these products include:



As an example of its potential, G4S claim to have installed their CASH360 system throughout Center Parcs, are rolling the system out to all TGI Friday’s outlets and are conducting trials with M&S. It is understood that this system employs hardware manufactured by Tidel Engineering in the States.


A range of products are manufactured to varying strengths. Some models have “vaults” merely constructed of 5mm mild steel offering limited thief resistance. Others are more substantial and claim “approval”, although in some cases the nature of testing standards employed are not mentioned within product data.


At the last count, it was possible to identify nearly 30 different models currently available in the UK. There are also several major brands being marketing in the USA (Diebold, Hitachi, DelaRue, NCR and Wincor Nixdorf, to name but a few). It seems likely that they are waiting in the wings, and it is only a matter of time before they cross the Atlantic.


Currently the only products with “AiSApproval” are manufactured by Stylemark Systems (in association with Fichet Bauche) and are the ValiDator Grade 1 (£10,000 cash rating) and ValiDator Grade 3 (£35,000 cash rating) intelligent deposit safes. The Association of Insurance Surveyors (AiS) will evaluate other leading products in this field with a view to determining “AiSApproval” and inclusion in the AiS Safe Rating List. This service is absolutely free and entitles the distributor to display the AiS Approved logo on their literature and on the product itself. Further information will be provided in due course.


G4S claim to be able to provide a range of protection from Grade 0 through to Grade VI which is achieved by mounting the cash management machine on a sliding steel platform, which is pushed into a host safe and secured at close of business or at other times when the premises are unoccupied.  In these situations, the Grade of the host safe will govern the cash rating.

ValiDator Intelligent Deposit Safe from Stylemark Systems


One of a product range manufactured by Tidel Engineering


One of a number of products manufactured by Safetell Ltd


Until such time as further assessment work by AiS is completed and the results published, a cautious approach to cash management machines in the field and the money covers provided is to be taken. Risk Consultants are to remain mindful that cash recycling machines are very intelligent but not necessarily physically secure. 


Unless the level of protection can be easily identified (RiskSTOP Technical Bulletin 26 refers), such as when employing a host safe to EN1143-1, specification details of the hardware are to be on obtained and the case referred to the Technical Helpline. When assessing such protection, it is important that confirmation is obtained as to the method of anchoring, together with considering the location of the machine and the overall physical and electronic protections of the premises as a whole, as per standard security/crime risk assessments.

bottom of page