Bank In Office

Integrated Cash Management System

Piraeus Bank’s “Bank in Office” service is an integrated cash management system designed to ensure continuous liquidity and availability of your cash collections, through their instant deposit in your bank account, without requiring their simultaneous physical transportation to the Bank.

Bank In Office solution transforms your cash management experience from a precarious, manual and time-consuming process to a secure, automated and real-time one, minimizing the exposure of your money to theft or embezzlement, improving your processes, eliminating the cash-in-transit costs and providing the immediate availability of your cash in your bank account.

How Bank in Office operates

The only operational prerequisite of the Bank in Office system is the installation of a specialized cash deposit machine, which functions as a smart safe, counting the deposited money and checking for counterfeit bank notes.

The specialized software installed in the machine provides the Bank and your company with information on available liquidity, before the money is being transported to the Bank. All cash deposits into the machines are depicted in real time as deposits into your bank account.

Cash-in-transit companies are automatically and timely alerted by the Bank for the decongestion of the accumulated cash in the machine and its transportation to the Bank’s premises, without the need for your involvement.

The role of the Bank

The Bank

  • Undertakes all the tasks required for the installation and activation of the deposit machine
  • Ensures the installation of security and telecommunication systems in order to establish the on line connection of the deposit machine to the Bank systems
  • Is responsible for the Insurance of the machine, which includes third party liability, cash content and electronic equipment
  • Coordinates the programming of CIT service in days and hours that best suit the customer’s needs and facilitates the conducting of unscheduled servicing and visits if necessary
  • Provides expert support to ensure the smooth operation of the deposit machine and provide information/advice on any issue related to the Bank in Office service
  • Coordinates all tasks involved in the maintenance of the deposit machine and the respective software for the duration of the contract

Benefits for your business

  • Elimination of sleeping money and real time availability of cash deposits to your account
  • Zero cash-in-transit (CIT) service costs
  • The machine and its contents are insured by the Bank, further reducing your Company’s involvement in time-consuming procedures and extra costs
  • Reduction of counting and reconciliation times, as these are supported automatically by the machine’s software
  • Reduction of risk related to theft and/or embezzlement, as the machines are only accessible by authorized personnel
  • Creation of a safer working environment for employees and clients
  • Online and real-time information on accounts and transactions
  • Centralized information on company’s total liquidity, allowing for its optimal utilization by the company’s financial department