“We are in discussions with many of America’s leading retailers about the benefits of an improved and enhanced approach to the management of cash, coins and checks,” said Gardner. “These conversations are taking on heightened urgency given the expectation that in the coming years, the value of cash payments in the U.S. are expected to rise further.”With CASH360, the manual counting of bills and coins is eliminated through the use of a smart recycler, enabling staff to focus on sales and customer service. All transactions are receipted and recorded to provide a full audit trail by cashier or register, improving reporting and cash visibility while potentially reducing losses. The recycler communicates the cash total to the bank every day, facilitating same day provisional credits to be made to the clients’ accounts at Bank of America. Responsibility for managing armored carrier relationships, forecasting and placing change orders is also removed from the retailer and monthly account reconcilement is simplified. The CASH360 solution is available for one monthly fee and with no capital expenditure required. “Bank of America Merrill Lynch is committed to creating financial solutions that directly support our clients’ objectives,” said Paul Simpson, head of Global Transaction Services. “With CASH360, we are proud to offer a solution that can help big box retailers and department stores across the country maximize their working capital while also freeing up their staff to spend more time with customers and generate sales.” Bank of AmericaBank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.For more Bank of America news, visit the Bank of America newsroom. www.bankofamerica.com G4SG4S is the world’s leading secure outsourcing group, specialising in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat. G4S is the largest employer quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S has operations in more than 125 countries and over 620,000 employees. CASH 360™ is a G4S registered trademark. For more information on G4S, visit www.g4s.com