Self-service bulk ATM to eliminate paperwork and reconciliation

Cash Connect has officially launched the bulk deposit acceptor (BDA) device. The compact under-counter cash deposit system allows bulk note and coin deposits to be processed quickly and easily. The device has been tested countrywide and is now live.

Pierre Liebenberg, GM development and manufacturing at Cash Connect Management Solutions, says the automated cash-handling device allows bulk note and cash deposits to be processed quickly. It also cuts down on time depositors spend in service queues and enables a speedy reconciliation and bank deposit process for cashiers.

The device is flexible and cost-effective and has a processing speed of up to 300 banknotes per minute and a capacity of 10 000 bank notes.

The BDA is designed for retail and distribution centres and makes efficient use of available space within cash offices with its through-the-wall configuration.

It automatically detects counterfeit notes and rejects them using its reject pocket, which can hold up to 50 bank notes.

“The system is four to six times faster than manual counting and verification processes,” says Liebenberg.

Richard Phillips, CEO of Cash Connect Management Solutions, says: “Automated cash management eliminates the need for manual paperwork and reconciliation. The secure cash vault is built to South African Bureau of Standards Category 4 standards to withstand the most determined attacks.”

Cash Connect backs up its technology with on-site training, 24-hour call centre support, on-site technical assistance and an online portal where customers can view their deposits and reconciliations, as well as view and download transaction history.