Glossary

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Term Definition
Cash Shrinkage

Shrinkage is the difference between recorded and actual cash inventory that can be attributed to factors including employee theft, administrative error and cashier errors. Retail studies indicate that worldwide the amount of value lost between till and bank averages 0.15% of cash turnover. Our cash accepting devices count the cash for you and identify fraudulent notes. This way businesses do not have to count the cash and stand a chance of cash going missing.

Cash Vault

Cash Connect Cash Vaults identify the cashiers and count and validate banknotes they deposit while keeping a real-time record of every transaction. Our Vaults are designed to be attack resistant, thus securing your money and creating the awareness that if you have a Cash Connect Solution, it’s pointless for armed robbers to attempt targeting your business … and your store becomes known as a hardened site.
This comprehensive approach to automated retail cash management solutions, enables Cash Connect to accept a 100% of the risk from the moment the cash is deposited into the vault..."We take the risk.".

Cash Vaults built to SABS Cat 4 standard

Cash Connect’s cash vaults (safes) are built to SABS Cat 4 standards. The higher the category, the more robust the cash vault. SABS is a statutory body that was established in terms of the Standards Act, 1945 and operates as the national standardisation institution in South Africa, mandated to promote quality in connection with commodities, products and services. Note that the Cash Connect Connectr range is manufactured to strict SABS Cat 4 specifications contributing to the receipt of endorsements from corporate Retail Brands, major fuel companies, national chain stores and three major commercial banks.

CDF

The Cash Deposit Fee (CDF) is the fee that banks charge for cash deposits. The fee is calculated per R100. Because Cash Connect manages billions of Rands on a monthly basis, we are able to provide our customers with an affordable and competitive Cash Deposit Fee, allowing our customers to save money.

CIT

Cash in Transit (C.I.T.) collection service is provided by an armoured car company and includes the collection of cash on site and the delivery thereof to a bank. This can be done at a frequency that optimises your risk to cost equation. Against this background, Cash Connect offers Same Day, Next Day or a Two Day, guaranteed value settlement service options.

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T | +27 11 010 4300
E | info@cashconnect.co.za
CC | 0861 MY RAND (69 7263)

Jhb Head Office:
Innesfree View | 4 Harris Road (Cnr Katherine & Harris) | Sandown Ext 20 | Sandton | 2196 | South Africa

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