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Coop Pank expands its cash transportation service

In November, Coop Pank expanded its cash transport service by partnering with Hansab AS to offer merchants and other business customers dealing with cash the opportunity to choose the most suitable cash handling service provider.

Head of daily business customers banking at Coop Pank Erje Mettas, said that starting this November, in addition to its current cash transportation partner Brink’s Estonia, the bank will also offer services of Hansab to its customers. “Although the share of cash has declined over time while the share of digital payment solutions is growing, paper money and coins are not going anywhere. In the third quarter of this year alone, the Bank of Estonia issued 298 million euros, which is almost a fifth more than in the second quarter. As long as consumers use cash, businesses will have to deal with the transportation of cash – and the most important factor here is the security of the service,” explained Mettas.

Both Coop Pank’s cash transportation partners are responsible for ensuring that businesses can safely and quickly move cash to their bank account or withdraw and deliver cash to service points. “Both Brink’s Estonia OÜ and Hansab AS offer cash transportation and authentication services, account transfer services and other cash processing solutions throughout Estonia. Now our business clients can choose which partner to order the service from,” said Mettas.

Hansab’s cash transportation service is intended for businesses that accumulate cash in the course of their daily activities. Hansab’s largest customers are Coop Eesti, Tallinna Kaubamaja and Selver, Prisma, Maxima, OG Elektra, Euronics and K-Rauta. “We help to securely transport cash, transfer cash to bank accounts on time and, if necessary, order money for change. We have also implemented a number of innovative technology solutions that make the cash handling process fully automated and secure. From now on, the clients of Coop Pank can also use these services,” said Ando Allik, Head of Cash Department at Hansab AS.

Hansab AS is an international company that has been offering high quality and reliable integrated solutions in the field of security and payments for over 30 years. Last year, the Estonian Security Association awarded Hansab’s cash transportation and handling service with the title of the Achievement of the Year in the Security Market.

Estonian-owned Coop Pank is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking is 110,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti comprising 330 stores.