Al Rajhi Bank, represented by Corporate Banking Group, has completed phase one of Cash Deposit Machines (LOCK BOX) project which has been launched in the Kingdom and Middle East last year. Lock Box is considered one of the innovative electronic means to collect and deposit cash in major big box stores worldwide.
The phase entailed the delivery and operation of 100 machines, from which 16 companies of various activities have benefited from to fulfill operations potential in their branches, as well as taking advantage of their advanced features.
Rolling out phase two, it is worth mentioning that the Machine represents a new service, with a possibility to deposit cash around the clock, throughout weekdays, during weekends, and holidays. The machine features a link with the customer to immediately activate deposits in the customer’s account directly; additionally the machine accommodates huge amounts on daily basis.
Services rendered by the cash deposit machine eliminate cash transfer risk from markets or branches sites to the Bank, as the machine enjoys high security characteristics which uses fingerprints of the depositors, in addition, it is possible to add a big number of depositors by beneficiary companies.
Lock Box machines at the customer’s site helps cash, as it verifies the integrity of banknotes in terms of forgery and dirt. These machines are remotely monitored by Bank’s staff to achieve greater safety.
This service provided by (Cash Department) at the Corporate Banking Group is considered one of the innovative and pioneering solutions provided by Al Rajhi Bank to corporate sector which seeks excellence through adopting an advanced electronic structure, and relying on a teamwork efforts that meets the customer’s needs and ambitions.