Cash collection is the collection of financial resources, settlement and payment documents, as well as bills of customers of any banking institution from the cashier by collectors, ensuring safety until delivery to a particular bank and subsequent crediting to the client's current account.
The main tasks of collection
- Deliver revenue from trading enterprises to banking institutions.
- Deliver cash proceeds from all retail outlets of commercial entities to their offices for delivery to the bank in the future.
- To deliver money from a banking institution to the cash desk of the enterprise to ensure the issuance of salaries for employees from there.
- Ensuring the transportation of funds to trading places when applying for a bank loan for the purchase.
- Delivery of funds in various currencies from a banking institution to an exchange office.
- Moving cash between bank branches.
- Escort and protection of bank employees during the transportation of securities.
The collection of funds of various business entities allows you to safely and promptly transfer revenue to the account, and also provides cash, both in the enterprise as a whole and its individual outlets in small bills and small bills. Collection may involve transportation of other material values and important documents.
Collection Service Functions
The collection service of any banking institution should be a team of highly qualified specialists, who will carry out this work qualitatively, related to the transportation of various types of valuables (monetary or currency). In addition to the usual delivery of cash, the specified service selects bills of the necessary denomination and small change coins.
Cost savings for collection
The conclusion by the business entity of a contract with a banking institution for the delivery of cash to the bank saves to some extent working time. Moreover, the employees of this enterprise are no longer responsible for the safety of cash, which saves them from stress. 
In order to save money, small enterprises or individual entrepreneurs located in the same building conclude joint agreements, and the collection of funds is carried out simultaneously at all.
Due to the fact that each business entity has its own work schedule, a convenient time for cash withdrawal throughout the working day is agreed with the collection service. The collection of funds by the bank for legal entities and individuals is carried out in accordance with the concluded agreement, containing the following information: collection value, frequency of cash collection and check-outs.
Bank involvement of third parties
Often, for the transportation of cash, a banking institution engages an organization that provides relevant services (transportation of valuable goods). 
In this case, the collection of funds is carried out only after the conclusion of an agreement with the employees of this organization on full liability. When carrying out an operation related to the transportation of cash by several collector employees at once, it is not possible to distinguish between their liability for damage that may be caused. Therefore, an agreement on collective liability must be concluded.
If the collection of cash is carried out with the involvement of third parties, then the functions should be divided as follows:
- The business entity provides for the preparation of a special bag of money, hands it over to the collector and pays for all services, both the collector himself and the bank.
- The specialist in the agreed hours and days collects from the authorized person of the company with delivery to the cashier of a banking institution cash. If necessary, temporary storage is sometimes carried out in the appropriate collection unit.
- The bank accepts bags of cash, the banknotes are converted and credited to the account of the company.
Cash collection procedure
For each organization involved in cash collection, monthly number cards are issued at the bank, the forms of which are approved by the relevant Regulation of the Central Bank of the Russian Federation. 
In this turnout card, the following information must be indicated without fail: bag numbers that are assigned to a particular organization, name, code, address, phone number, as well as the time for completion of the working day and arrival of collectors.
Before leaving, collectors must receive: empty bags, powers of attorney for collection and transportation of cash, keys, stamp and security cards.
Upon arrival at the enterprise, the collection of funds, the instruction for which must be available on this business entity, is carried out by the appropriate specialist only after the presentation of such documents:
- certificates;
- power of attorney for the collection of banknotes;
- turnout cards;
- an empty bag attached to a customer.
Cash acceptance by the bank
When accepting a collection bag, a bank employee must check the compliance of the entries in all accompanying documents:
- comparison of the invoice and the safe haven when handing over the bag to the collector;
- matching invoice and receipt when handing over the bag to an employee.
It should also be checked:
- lack of damage to the money bag;
- the integrity of the bag itself, as well as the seals on it;
- correspondence of bag number with what is indicated on the consignment note.
