It is not unusual to hear busy convenience store retailers ask: what’s the difference between a smart safe and a cash recycler?
This is not an unreasonable question. Both machines prepare cash for deposit and store it securely. They also both permit provisional credit from a bank. But there are significant differences of which retailers need to be aware.
A smart safe automatically accepts, validates, records and stores cash. It is referred to as “smart” because it connects to the internet and a point-of-sale (POS) device, as well as cash management technology and back-office systems. The benefits, in addition to the obvious security of cash, include lower banking fees, better use of store labor hours, better visibility and accountability, and quicker access to working capital. One downside of smart safes is that they tend to be large, and thus require a good amount of space.
This is necessary due to the components integrated into the safe that give it its various features.
A cash recycler, on the other hand, is used to automate the accepting and dispensing of cash. It can also safely store bills and total up the cash on hand. They are commonly found less in convenience stores than in the back offices of larger retailers such as warehouse clubs and supermarkets, as well as other businesses — such as amusement parks, casinos, sports stadiums and hotels — where significant amounts of cash are collected. Bills are inserted into a feeder and go through a bill identifier that specifies their denominations and validity. They are then placed into cassettes for use in additional transactions.
Put simply, a smart safe functions as a holding area located outside of the flow of transactions, which corrals the bank notes as they accumulate.
On the other side, a cash recycler takes an active role in both directions of the cash-handling system. It safeguards deposited money even as it collects and dispenses small bills that may be needed in order to make change.