Most cost effective way of depositing cash for a business

[revs88]

Hi guys - I'm advising a retailer with 10 stores who deposits ~£40k per week, mostly in cash via various post office branches.

From what I can gather most of the high-street business banks are charging 40 to 50p per £100 and wondered if there were any other alternatives in the market.

I've come across cashplus who only charge 0.25% but the reviews have been somewhat off putting.

Thanks in advance, Richard

[Flat-6]

How about something like G4S Cash collection?
No clue what they charge though...

[Insurancejon]

If you move your account to Barclays they are doing free g4s collections for new customers

have come across clients taking advantage of this a lot recently

[Mr Overheads]

What type of retailer is taking so much cash? What strategies might there be in that sector to encourage customers to use cards?

However before doing that check the merchant card fees. On £100 what fee does the retailer pay for card processing? i.e. would it be any saving at all?

[olivebrown]

In our convenience store we have a cash machine which we fill and reimbursed into our bank by the machine owner, plus make 6-7k a year in fees.

Although you mentioned post office, so will already have a cash machine, so maybe not usedul.