We know only too well that small businesses are the backbone of the economy. Companies employing less than 50 people make up more than 98% of all businesses in Ireland. Cashflow is critical to these businesses, from retail to hospitality, from services to product sales, and everything in between.
4 Considerations for Cash Collection for local businesses
For many independently owned businesses, cash collection and cash processing may not have traditionally been considered, so why are business owners in the many towns around Ireland, now starting to arrange cash-in-transit solutions for their business?
Costs: Save over 50% on bank fees: With cash collection and processing services from GSLS, our business customers are saving over 50% on the cash processing fees they pay to their banks.
Bank Closures: Recent bank closures has meant more people have to travel further and wait longer to lodge their money. Our secure pick-ups take this task away.
Time-saving: Cash collection from GSLS can also save business owners hours of travelling to and from a bank each week so there’s more time to focus on the things that matter.
Security: Our armoured vehicles and security technology take the onus and security risks of travelling with money away from small business owners.
BUT will someone collect in my area?
- GSLS drives through towns and villages around Ireland 6 days per week. We are driving through your town already, so why not consider an option that saves precious time and money, that can be put to better use running your business.
3 common questions regarding Cash Processing in local businesses.
- Isn’t cash processing an added expense?
No – Cash processing fees at GSLS are less than half the cost of cash processing at the standard retail bank. Get a quote to see how much we could save your business today.
- Won’t cash processing delay the money getting to my account?
No – cash processing happens overnight after collection, so your money will be in your account the very next day.
- How can you be sure my cash will be in my account the day after collection? Regardless of the time that your cash is collected, we take it into our state-of-the-art cash handling facility, where it is processed overnight, to ensure it is in your account by the following day. In addition, you will receive comprehensive reporting on all your lodgements.
Recent Case study
Michael is the owner of 2 well-established convenience store in the Midlands
For years Michael has gone to the bank twice per week to lodge cash from his business – it can vary from €8K to €10K per week.
It worked out that Michael was spending 3 hours a week going to and from the bank, time which he could have been spending running his business. In addition, Michael was paying high bank fees for the lodgement of his cash.
Calculation: Fees at 60c per €100 processed on €10k per week = €60 per week
€60 per week = €3120 per year in bank fees
Michael was told by friend, who also owns a business locally, that GSLS can
- collect his cash, saving him all that time travelling to the bank, AND can
- process his cash at a much lower rate than the bank and still get his cash in his account the day after collection.
Since moving to GSLS Michael has not only saved significantly on his processing fees but he has also got 3 hours back in his week (adding to almost 20 days per year!!) to spend dealing with customers in his stores, or spending time with his family. Finally, the security risk of getting cash to the bank is now no longer a worry for Michael, or his family.
Get in touch today to find out how much time and money you could save
Call: 01-460 5888