Collection — procedure, cost, pros and cons

Collection is one of the services provided by banks or specialized organizations. In the process of doing business, large companies or individual entrepreneurs often need to move money or other valuables. To ensure their safety, it is recommended to use the services of collectors.

1. What is collection in simple words

Collection (from the English «collection») is a service provided by banks or specialized organizations for the transportation of money or other valuables with security escort.

People who are directly involved in transportation are called «collectors».

In addition to cash, collectors can transport securities, precious stones and metals, bank cards, coins, etc. Often, valuables are transported from one organization to another, to or from a bank. Collection refers to the services of the banking sector. The activity of the service is regulated by the Central Bank of the Russian Federation.

Other specialized organizations can only provide cash collection services after they receive the appropriate license. In addition to legal entities, individuals can also use the services of collectors, but this happens extremely rarely.


Cash collection helps to ensure the safety of cash, securities or other valuables, as well as save time due to the absence of the need for self-transportation. Also, inhibition will allow faster crediting of funds to the current account, which will positively affect the speed of the company’s cash turnover.

2. What services does cash collection include?

In addition to the transportation of cash and any other valuables, cash collection combines such operations as:


  • One-time delivery of coins or banknotes to the client in exchange for any other denomination of banknotes;
  • Transportation of money or other valuables to the cash desk of the organization;
  • Acceptance and crediting of funds to the settlement account of the organization;
  • Transportation of valuables from one object of the organization to another;
  • Receiving and crediting money to a client account;
  • Delivery of coins or banknotes with exchange for large denomination banknotes.

In most cases, the services of collection services are used by legal entities. This is due to the cost of transportation. In some cases, it is formed at the expense of a percentage of the total amount of funds transported. But, if the service is ordered by an individual, the cost of transportation may not be as high as for organizations.

3. Collection procedure

Any operations with a cash register, including the collection of precious metals and securities, is a rather complicated process. In this regard, the participants in the procedure need to prepare the appropriate papers. First of all, we are talking about concluding an agreement with an organization that provides cash collection services.


Often, collection services, which are not representatives of banks, are still closely connected with them. Banking institutions monthly organize numbered appearance cards for cash collection services. They indicate the name of the organization, the address of the head office, as well as branches, contacts, opening hours and time intervals for the arrival of cash collection vehicles.

Regarding the last points, it is necessary to compare the number of valuables transported with the total workload. Each of the collection bags included in the general baggage has an individual number. In addition, the manager of the cash collection service contacts the organization that ordered the service in order to agree on a convenient time for the arrival of the car for both parties.


The collection procedure must proceed according to legally approved rules. It is not only about the timely delivery of luggage, but also the correct execution of related documentation. The collector always has a special list with him. It lists, point by point, everything that is being transported at the moment, namely:

  • Keys;
  • Certified Power of Attorney. It is necessary so that the employee of the cash collection service can confirm permission to transport any valuable items or money;
  • Turnout card;
  • Organization stamp;
  • Container for valuables with a special identifiable number.

4. Actions of collectors

The regulations clearly describe the manipulations that must be performed by the collector after he arrives at the office of the organization. It is about the following:


  1. First of all, an employee of the organization who works with the cash desk checks documents from collectors. Often, these are passports, as well as a power of attorney for the transportation of valuables. In addition, you should check the presence of a turnout card and a bag with an individual number.
  2. In addition to the above things, it is necessary to check the presence of a seal sample that will be installed on the bag. After that, accompanying documents should be placed in it, these can be invoices.
  3. Next, the cashier starts filling out the paperwork. Here you need to display a list of transactions performed. After that, these documents are sent for verification. In this case, you need to identify compliance with the requested amount of funds.
  4. If everything fits together, you can start laying money or other valuables in the bag.
  5. The next step is to install the filling. After that, the collector must inspect the bag and the seal. Thus, the absence of defects and the possibility of access to the valuables in the bag are checked.
  6. Next, the employee of the organization fills out the turnout card and indicates the details, including cards and invoices with receipts.
  7. If an error is made in the process of filling out the paperwork, it must be corrected immediately.
  8. After all the acts and documents are filled out, the cashier needs to sign. In the future, it will be a confirmation that the procedure was carried out in accordance with the collection rules.
  9. In the process of acceptance and transfer of a collection bag with valuables and documents, an employee of the collection service must sign a receipt and then certify it with a stamp. At the same time, the date of the operation should be indicated.

If the cash desk employee finds any inconsistencies in the documents, this issue must be resolved promptly. This is done by an authorized employee of the organization. If the problem cannot be solved in a short time, you will have to wait for the next visit to the collectors, who must put the appropriate mark on the turnout sheet. This is necessary in order to allocate more time to visit this object in order to correct the mistake made.

5. Collection procedure in banking institutions

The collection procedure, which is carried out in a banking institution, differs significantly from that carried out at the facilities of organizations or in stores. This operation will be more complex and carried out in accordance with other rules. During the collection, the bank employee must:

  • Check the documentation for the slightest errors. It is necessary to carefully study the turnout sheet, receipts and invoices, as well as other related documents;
  • After that, he checks the collection bag for defects that could cause access to valuables. The bag should not have holes, protruding knots and even minor tears;
  • The next step is to check the wetted seams and the quality of the fillings;
  • Next, you should check for compliance with the numbers on the collection bag and those indicated in the documentation.

If any shortcomings or errors in the documentation were found by an authorized bank employee, it is necessary to make a corresponding note in the acceptance log. After that, the record must be verified by both parties. If traces of opening or breaking the bag are found, it should be opened and checked to see if everything is in place. If money was transported, it should be counted.

After that, it is necessary to draw up an autopsy report. In the absence of part of the funds or any other valuables, information about this fact should be displayed in the act. It should also record information about the organization, the reason for the autopsy, the names of employees, the time and date. It is especially important to provide detailed information about the room in which the autopsy took place.

Since collection refers to accounting transactions, an employee of a banking institution opens a cash account on account 57, that is, “Transfers on the way”. This procedure is convenient both for employees of the collection service and for the bank. Having full information about the procedure, an act is drawn up on the transfer of cash to the bank. This way you can track the operation from start to finish.

6. Cost of collection service

The cost of transporting change coins or cash from each of the banks may be different. But, in most cases, the price of transportation depends on the distance that the collector needs to travel and the amount of revenue. The larger the amount, the lower the cost of the service, if measured as a percentage.

For example, if we are talking about the transportation of cash in the amount of up to 3 million rubles, and the distance is 10 km, the customer must pay 0.5% of the proceeds. But, in the case of transportation of 20 million rubles, the rate will drop to 0.2%. Speaking about the transportation of change coins in the amount of up to 100,000 rubles, the cost of the service will be approximately 2% of the amount.

If the service is ordered by a small organization that earns no more than 200,000 rubles per day, the customer can take advantage of special offers here. Since classical cash collection will cost the company too much, the bank may offer the installation of a special terminal for receiving funds.

It is necessary to deposit money into such a terminal using a special identification card. It can only be obtained by authorized employees. Therefore, each of the operations will take place in a protected mode. Also, this option for depositing revenue is convenient because the customer does not have to wait for the cash collector’s car, which moves around the city according to a strictly drawn up schedule and will have to adapt to it.

The proceeds can be deposited into the company’s account at any time of the day or night. Speaking about the collection service provided by Sberbank, a different system is used here. Employees of the cash collection service install an automatic safe in a place convenient for collecting funds or, for example, in a shopping center, where there are many other integrated points.

Thus, it is convenient for customers to pawn bags of cash on their own. In the course of such an operation, it is necessary to fill out the same documents that are required for the standard collection procedure. At the same time, in this way you can save money, since delivering money to the bank using this method will be cheaper.

If the client wants to deliver funds to the bank on his own, and at the same time he needs security, he can contact a specialized service and use the services of collectors. The cost of such services can be different and often depends on the characteristics of transportation. On average, a driver-collector who has a weapon costs 6,000-7,000 rubles. The services of an additional armed collector are approximately 5,000 rubles, and an escort car with a driver is from 10,000 to 12,000 rubles.

7. Pros and cons of collection

Pros:

  • High degree of security. Armed and specially trained people will be responsible for the safety of money or other transported valuables. In addition, the cargo will be transported by a highly qualified driver in an armored minibus;
  • If necessary, employees of the collection service will not only transport funds, but also credit them to the current account;
  • Opportunity to save time.

Minuses:

  • Mistakes made in the process of filling out the accompanying documentation, which are sometimes very difficult to correct;
  • Low speed of crediting funds to settlement accounts;
  • Arrival of a cash collection vehicle at an inconvenient time;
  • In some cases, the services of collectors are too expensive for organizations;
  • Cash collection can take place only in a room specially prepared for this, which also sometimes causes difficulties;
  • To reduce the cost of a complex cash collection procedure, sometimes you have to create an additional burden on full-time employees.

Most customers turn a blind eye to such shortcomings, as the most important thing for them is the security of money transportation.

Conclusion

Cash collection remains one of the best ways to transport valuables. But in order not to run into problems, it is necessary to carefully check the documents and enter reliable information into them. This is necessary for the smooth issuance of funds at the place of arrival. If mistakes are made, they should be corrected as soon as possible.

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