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Cash flow secured through cash-in-transit companies

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Service providers in the cash payment chain have redesigned administrative handling for cash-in-transit companies and cash handlers. The revised set-up ensures that cash from entrepreneurs can be handled efficiently, reliably, securely and, above all, future-proof.

Gestapelde euromunten met losse munten ervoor en eurobankbiljetten op de achtergrond, als beeld van sparen, waardeopbouw en geldstromen.

Cash-in-transit companies transport cash between businesses (especially shops) and cash handlers. Cash handlers mainly take care of the ‘giralisation’ of cash: counting and accounting for entrepreneurs’ cash and having it added to or deducted from their checking accounts. The processes around this were in need of modernisation.

For cash deposited by entrepreneurs via the ATMs and deposit vaults of Geldmaat , a partnership between ABN AMRO, ING and Rabobank was already in place for cashless transactions. It was decided to have Geldmaat do the same for value transporters, on behalf of the same partnership.

The new approach was successfully introduced on 23 October 2023. From now on, handling is in the hands of Geldmaat. This laid a nice foundation for the current and future handling of cash through independent cash transporters and cash handlers in the Netherlands.

ABN AMRO, ING, Rabobank, Geldmaat and security carrier Brink’s were involved in the redesign. Payments Association Netherlands took the lead. The Dutch Central Bank ensured that the new set-up still complied with all laws and regulations.

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