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CashLINK Remote Cash Deposit Service

By: Joe Gavaghan
juin 25, 2011

With Susquehanna Bank’s CashLINK service, businesses deposit cash into a special in-store safe that counts the bills, scans them for counterfeits, and then transmits a daily electronic deposit amount to the business’s account at the bank.

Thanks to a new service offered by Susquehanna Bank and Garda Cash Logistics, store owners can deposit their day’s cash receipts at the bank without ever leaving their cash register.

 

With Susquehanna Bank’s CashLINK service, businesses deposit cash into a special in-store safe that counts the bills, scans them for counterfeits, and then transmits a daily electronic deposit amount to the business’s account at the bank.

 

“For retail operations, the process of accepting, counting, safekeeping, transporting and depositing cash is a time-consuming process that includes the risk of theft, fraud, and errors,” said James G. Pierné, President and Chief Executive Officer of Susquehanna Bank. “With Garda’s CashLINK service, our customer receives credit for the cash deposited into the safe each day, while the cash itself is held securely in the safe until the next scheduled pick-up by armored car.”

 

“In recent years, more and more businesses have been using remote deposit to scan checks and transmit them electronically to the bank for deposit,” Pierné said. “CashLINK expands this capability to handle cash as well, offering a significant advantage in time and cost savings for retailers. Plus, the service gives businesses a safer way to handle cash and faster access to the funds they take in.”

 

Susquehanna offers CashLINK in partnership with Garda Cash Logistics, which also provides secure transportation for the bank. CashLINK is a closed loop cash management system that safely optimizes in-store cash handling from point of sale to transforming cash in the store safe into working capital for the client.

 

Susquehanna Bank provides banking services to consumers and businesses through more than 220 branch offices in Pennsylvania, Maryland, New Jersey, and West Virginia. It is a subsidiary of Susquehanna Bancshares, Inc., a financial services holding company with assets of approximately $14 billion. Through Susquehanna Wealth Management, the company also offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services. Susquehanna also operates an insurance brokerage and employee benefits company, a commercial finance company and a vehicle leasing company.