Cash-management during Covid-19

As individuals opt-out of face-to-face or in branch interactions, convenient access to cash and comprehensive banking services without visiting the bank is attaining a critical role in the country during Covid-19. Besides, although the coronavirus has given a boost to mobile and digital transactions, many people nevertheless depend heavily on cash. Similarly, businesses need money to operate standard systematic functions that include payment of rent, salaries, utilities and other expenses of daily nature. However, social distancing imposed by the coronavirus outbreak has caused financial institutions to curtail their hours or temporarily close branches, make it challenging for individuals and businesses alike to access cash from the bank and undertake other banking services.

Here is where a third-party cash management services companies in India such as S&IB Cash Services Pvt Ltd come into play. These service providers have been maintaining the smooth functioning of enterprises by offering doorstep and other convenient cash management services throughout the pandemic.

Extensively used services offered by Cash management services in India during Covid-19 are as follows:

Cash transactions:

The cash management service providers offered customized multi-location cash pickup solutions, cash counting and verification, documentation of each pickup and more to their clients amidst the Covid-19 situation.

Cheque collections:

The cash management service providers empowered businesses by offering local and outstation collection of cheque, multi-location pickups, documentation of each cheque, timely realization and clearance of cheques, cheque encoding and more to them without much hassle.

Cash delivery:

The cash management service providers during Covid-19 further extend their cash delivery services at the doorstep of businesses to enhance the convenience of cash accessibility for the same. Besides, they also ensure the safe and secure delivery of cash to authorized recipients while providing delivery at a higher frequency.

Automated Cash Sorting Machine with Manpower:

Businesses are often faced with cash-handling challenges. As the outbreak of novel coronavirus has added to the situation by increasing the scarcity of human workers to do the job efficiently. A third-party cash management service provider has been of great assistance during Covid-19 by offering services such as providing automated cash sorting machine with the additional human workforce.

Withdrawal of Soiled Note & Transportation:

Businesses often face the challenge of handling soiled or unusable notes and have no idea what to do with it. While exchanging there may be certain conditions to be considered before doing so. Further, with the curtailing of office working hours for banks amidst Covid-19, businesses were unable to do so at their convenience. Cash management service providers such as S&IB Services Pvt Ltd offers the service of withdrawing soiled note with secured transportation and more.

Bank & ATM Cash Management Services:

Apart from assisting individuals and businesses manage their cash transactions efficiently and with heightened convenience, cash management service providers such as S&IB Services Pvt Ltd has been further extending their services to banks around the country amidst the Covid-19 situation. Along with handling the money logistics, they ensured end-to-end ATM solutions to large as well as small banks and financial institutions in India.

Hence are the most notable ways in which a third-party cash management service providers such as S&IB Service Pvt Ltd have been easing the life of institutions, businesses and individuals alike under the unprecedented clouds of Covid-19.

Do you need professional assistance to handle your cash? Contact S&IB Services Pvt Ltd today!