Armored cars are an essential part of cash management for the banking industry. How else will they transport bundles of notes from the bank to a safety vault? Not only currency notes, but there are also other valuables too, like jewelry and art that are transported by these reliable service providers. More and more banks in California are reducing the stress of keeping their armored car fleet and are outsourcing this critical task to seasoned professionals.
Why use armored car services?
Armored cars transport large quantities of cash from banks to their vaults for safekeeping. Alternately, an armored car service in California can carry cash from their vault to a bank for specific upcoming transactions. That ensures the bank’s branch does not have an excess of money in its trunk on any given day. As banks are not always aware of how many transactions and what volume of cash will be deposited on any particular day, armored car services need to be flexible. Usually, armored car service in Southern California will have vaults in Los Angeles and San Diego.
ATMs are a critical part of every bank’s offering to customers and play an essential role in customer experience. Often banks will sign a contract with an armored car service in California to ensure their ATMs are stocked with an adequate amount of cash always. ATM usage is monitored to analyze the quantities and frequency of cash withdrawals by customers. Based on this, ATMs are stocked with carefully calculated amounts of cash for customers regularly. For example, during Christmas, ATMs will be replenished with more significant amounts of money for customers to ensure none of the machines run-out. This is an essential service because it directly impacts the customer experience. If a transaction between a customer and ATM is unsuccessful because of a lack of cash in the machine, it’s very likely the person will not return to that booth again. What’s more, they will inform others of their negative experience using social media – this could lead to customer churn in a short period.
All armored cars and their personnel are covered by insurance. The valuables and money they carry are insured too. This insurance is expensive but necessary and makes the armored car service in California a little more unaffordable for smaller organizations. Often large jewelry companies will rent armored cars for transporting their valuable collections to stores. Large retailers might require their services too, for transporting money. Most armored vehicles have bullet-proof glass, and their body is made from special steel. The guards wear uniforms and carry legal firearms; some have bullet-proof vests. They are trained to load and unload the valuables at the fastest possible speed.
Safety and security
Keep in mind that armored trucks carry valuables/ cash that draws everybody’s attention, and there have been many cases of attempted or successful burglary. But once they leave your premises, they become the responsibility of the service provider, who is legally bound to reimburse you in the case of theft or loss of property. This is a relief for banks, jewelers, and large retailers who accumulate large quantities of cash every few days and are always concerned about security.
Armored car service providers in California need to work closely with their customers to understand daily transactions better, keeping them in the loop. They must understand the importance of consistently smooth customer experience across ATMs and ensure efficient preventative maintenance. With the right reports and analytics, this is easy to achieve.