header

Cash Upload FAQs

  1. What customer profile would best benefit from CUPL?
    CUPL is ideal for Online and H2H channel clients who want an automated deposit process or earlier sight of deposits into their account.

  2. How does the deposit information of the customer’s takings reach the bank?
    The customer to sends the bank a digital deposit via BOL (Domestic) or Host to Host.

  3. When does the customers account get credited with the takings?
    As soon as the customer has sent the bank a digital deposit via BOL (Domestic) or Host to Host, within the specified cut-off times.
  4. Are cheques values automatically included in the deposits?
    No, the customer has the option to include or exclude cheque takings with the Cash deposits.

  5. What piece of tamper proof equipment does the client need on his premises for his deposits?
    ( Name 2)

    The client must either have the Drop Safe or Auto-Safe.

  6. What process do cheques need to follow for immediate value?
    Cheques need to be itemised and captured on a special screen for immediate value,  alternatively sent to the cash centre and value will be passed on receipt of the cheques at the cash centre.

  7. Where are the adjustments to the deposits done?
    Once the takings have been delivered to the Cash Centre, any adjustments will be done by the Cash Centre on the CUPL System.

  8. Who delivers the takings to the Cash Centres
    The CIT company delivers the takings.

  9. Which Cash Centres currently support CUPL?
    Standard Bank Cash Centres -  All Standard Bank Cash Centres  support the CUPL
    SBV Cash Centres –  All SBV Cash Centres  support the CUPL

  10. What are the 5 main benefits of CUPL?
    • Extends depositing hour
    • Reduces operating costs
    • Improves cash flow and Liquidity Management
    • Increases earnings from interest due to Same Day Value
    • Reduces float amounts due to accurate reporting

  11. What are the 5 Cash control benefits?
    • Detailed Electronic MIS
    • Quicker turnaround times
    • Electronic Deposit Slip
    • Integration into ERP
    • Effective Reconciliation

    The Relationship Manager (RM)/ Transactional Sales Manager (TSM) need to be aware / determine the status of the clients profile regarding the client’s credit risk.

  12. What are the times that a client can upload the takings electronically
    The facility to upload the takings electronically is available:
    • Online up to 19h00 Monday to Saturday
    • H2H up to 02h00 Monday to Saturday

    All public holidays and Sundays are excluded

  13. Why do cut off times differ from e.g. SSVS cut off times?
    The company transactions are “on us” transactions only namely Standard Bank to Standard Bank.


buttons