"All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S." This quote by Frankelin D. Roosevelt highlights the trust businesses and consumers have placed in safety deposit boxes for decades.Today, you probably won’t need an agent of the I.R.S to open your safety deposit box with you. But they ...

Coins still play a vital role in many businesses’ everyday transactions, even in our digital age. But counting them by hand them can be an error-prone and time-consuming process. Luckily, coin counting scales can solve this. Let’s look at how they work, reduce manual processing errors, and more. What are coin counting scales? Coin counting scales are devices that accurately ...

According to the Bank of International Settlements (BIS), digital payments have made gains, but cash remains a steady and popular method of payment.The BIS also states that interoperability of payment systems is key for seamless payments - regardless of the chosen payment method.So, cash remains essential, especially for businesses working in retail, hospitality and travel.Therefore, it's crucial to understand the significance and functioning of the ...

Whether you are a bank or a small business, you need to dispense cash to your customers with efficiency and accuracy. This is where cash recyclers can help. But what are they? How do they work? And what benefits do they offer? Let's find out. What is a cash recycler? A cash recycler is a machine used by businesses and ...

Coin-counting machines are widely used in banks, supermarkets, and other businesses to streamline the process of tallying up loose change. While they can be convenient, their accuracy can vary depending on factors such as maintenance, calibration, and the condition of the coins being counted. Many machines undergo regular calibration to ensure accuracy, but errors, particularly with foreign or damaged coins, can still occur. Despite ...

Protecting cash and valuable items has always been essential for individuals and businesses. Because of this, the design and technology used by safes have changed a lot throughout history. They’ve gone from simple wooden boxes to reinforced iron containers with sophisticated combination locks. Today, they have developed even further into smart safes. What are smart safes? Smart safes are a ...

Throughout history, humanity has sought ways to protect its treasures.This is why safes and vaults have been used across the globe for millennia.Safes have evolved from wooden boxes with simple locks to reinforced fire-resistant containers with complex electronic and even biometric locks.And vaults have developed from temple roofs to sophisticated underground climate-controlled facilities in the arctic circle...In this blog, we highlight the evolution and history ...

Warren Buffett once said: "Cash... is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent." Digital and mobile payments are becoming increasingly popular. So, the disadvantages of physical cash appear more obvious and the advantages of it less obvious. This makes it more important to maintain a ...

Safes have a long history, during which time they've evolved into many different forms. They can be used for similar purposes such as keeping important documents away from prying eyes or to protect loose jewels. If you live in an unsafe neighbourhood, they can also be a good way to hide emergency cash. Two of the most popular and secure types of safe are ...

A cash float in retail is the amount of cash kept in the cash register at the start of the working day. It aids overall efficient and smooth cash flow including the easy provision of change to customers.Calculating the current cash float during daily operations is important as it helps in financial projections and accurately reveals upcoming liabilities.This blog will cover a general overview of ...