National Cash Vault Services is a nationwide network of cash vaults available to you for making cash deposits to a single, or multiple, First Tennessee account(s) via third-party armored courier.
Through National Vault, you contract with an armored courier who delivers cash to one of Loomis, Fargo's terminals. Loomis, Fargo then verifies the cash on behalf of First Tennessee and transmits the deposit information to First Tennessee.
With Remote Cash Deposit, you contract with Loomis, Fargo to have a safe installed in your location(s). Loomis, Fargo polls the safes on a daily basis, and funds are credited to your account with First Tennessee. Although the funds remain in the safe until picked up by Loomis, Fargo on a regularly scheduled basis, your account is credited daily.
- Deposits can include currency and coin.
- First Tennessee has an arrangement with Loomis, Fargo & Co. to process and verify deposits made to their vault locations and safes around the country.
- Armored courier pickup and delivery is available through Loomis, Fargo & Co.
- Increased efficiency – Fewer bank relationships, faster availability of funds, and reduced costs.
- Increased security – The bank verifies each deposit and any discrepancies are immediately reported to you. Also, with the armored services, your employees do not have to worry about carrying large quantities of cash.