A Practical Approach to Cash Department of a Bank
Banking & Insurance eJournal, Vol 11 Issue 192, 2019
15 Pages Posted: 14 Oct 2019 Last revised: 27 Nov 2019
Date Written: September 20, 2019
Cash department is an important department of any bank. It is the main source of all banking activities for the reason every day bank has to remain certain amount in cash in accordance with the rules and regulations. This department is a very sensitive organ of a bank. The procedures of receiving cash are maintained properly with the help of Cashier. Documents relevant to this section including cash deposit and cash withdrawal are preserved as record very carefully. At present, cash department of a bank provide services to the clients by using modern technology. Various debit and credit vouchers are used in cash department. Different kinds of cheques are used for cash withdrawal whereas various registrars are maintained to keep record of each transaction. Clearing helps in cash collection from other banks and debit card or credit card makes easier cash withdrawal from the ATM booth. However, customers’ satisfaction highly depends on cash department of a bank.
Keywords: Bank, Vouchers, Deposit, Cash Payment, Cash Receive, Cheque
JEL Classification: G1, G2, G15, G2, G20, G21, M21, O16, G00, G10, G2, G23, G32, P37, P48
Suggested Citation: Suggested Citation