Saturday, September 30, 2023

How is Cash Management the “Super Business”

During last March, supermarkets did more than $100,000 million in sales, according to INDEC cash. This is equal to 28.1% of the total. The rest of the billing was done through credit or debit cards or electronic wallets. In total, the big chains made about $363 billion in sales that month.

for those big businesses, cash handling It has become a problem that the presence of a $2,000 bill does not solve. These are huge stores of money that cannot be easily transferred, and it is not a question of leaving the money standing still on the premises – as it can be done with non-perishable goods – because year-by-year- With inflation over 100% a year this would be a very steep decline on the “real” value of those bills.

For this reason traders try to get rid of them. stamp as soon as possible. They pay for it too.

or give customers a chance Withdraw cash from boxes at no extra cost. It’s understandable: It’s a way to avoid paying to get rid of that money.

cash withdrawal cost

supermarket They face two costs for withdrawing money from branches: On the one hand, they pay the service of cash trucks, which must pass by to load the collected cash.

banks on the other side, They also get a deduction for counting bills by their employees and depositing them into the business’s bank account.

For These Large Businesses, Cash Management Has Become A Problem That The Presence Of $2,000 Doesn'T Solve.

For these large businesses, cash management has become a problem that the presence of $2,000 doesn’t solve.

For large businesses, cash handling has become a problem that is not solved by the presence of a $2,000 bill

How much does each take? cost of cash truck 1.5% is equal to the average. In other words, of the $102,000 million they took in in March, those companies made $1,530 million.

in return, financial institutions They keep an average of 2% of the cash they handle. In March they totaled $2,040 million.

Overall, taking into account the amount received by cash truck and banks, the global cost was close to $3,570 million. Not less than 3.5% of the total cash bill by the supermarket.

Nation World News Desk
Nation World News Desk
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