CCP is a service rendered by the bank whereby convenient teller services are provided “on-site” for customers who receive a high volume of payments (cash or cheques) on their premises.
The teller will be located in the customer’s premises to deal with all cash receipts as required and at the end of each day, customer’s receipts will be evacuated and transported to the Bank via Cash in Transit by bank agent (Security Company).
CCP will have a direct link with the bank’s network. Therefore, CCP acts like a mini-branch whereby when the bank’s teller accepts payments from the customer’s clients, there and then the customer account is credited immediately as the transaction takes place.
Benefit of Cash Collection Points
- Service at the customer premises. Hence, reducing the time and resources used for banking CCP dedicated to customer’s activities only
- CCP will relieve customers’ staffs with cash handling burden, allowing them to perform other duties.
- Secured cash movements.
Who Would benefit?
Any customer characterized with receipt of payments at their premises. These include;
- Large corporates e.g. Soft drinks companies
- Government institutions eg. Immigration
- Government agencies ,Etc.