BankLine Announces Overnight Availability of Funds For Crypto ATMs

BankLine Announces Overnight Availability of Funds For Crypto ATMs

Published Thursday, April 16th, 2020

BankLine’s Crypto ATM (BTM) Operators receive overnight availability of funds.

  • New program eliminates traditional 7 to 10 day “funds float”
  • Funds available overnight
  • Streamlines control of cash cycle
  • Operators can rotate working capital faster
  • Redundant banking insulates Crypto Operators

Currently, the cash cycle for a BTM can restrict the use of the BTM Operator’s funds flow for as long as 7 to 10 days. BankLine’s Provisional Posting Program allows overnight availability of funds.  This new innovation will revolutionize the Crypto BTM industry by optimizing the rotation of capital, eliminating the “float” and increasing a BTM Operator’s daily capitalization by as much as 40%.

BankLine’s Cutting Edge Technology Means Streamlined Business Systems for BTM Operators

As with any business, improving efficiency as a BTM operator is crucial for profitability. 

BankLine’s fully integrated API allows BTMs to transmit daily sales activity directly to the ODFI (Originating Depository Financial Institution) for overnight availability of funds, streamlining the entire cash supply chain. Accessibility to deposits “overnight” allows BankLIne’s BTM Operators to reduce or eliminate the need for lending lines and interest charges. For the first time ever, BankLIne’s technology will provide a truly interactive relationship between the BTM Operator’s kiosks and their financial institution.

Overnight Availability – Next-Gen Cash Management

Overnight availability mitigates the time and expense associated with Armored Cash Transportation.  Traditionally, cash handling involves a number of manual and costly processes – collecting, counting, and reconciling cash numerous times before the funds can be posted to the BTM Operator’s Account.  Employees can spend hours counting, verifying, reconciling and preparing cash deposits, affirming that efficiency is a direct line to increased revenue and corporate expansion.

President and CEO of BankLine, Mark Ochab, promises, “BankLine will continue to deliver redundant banking relationships in addition to the latest technologies and innovative services in combination with stellar Customer Service.  Overnight availability of funds is a complete game changer for the Crypto BTM industry. BankLIne is pleased to be the first to implement Provisional Posting for our Crypto-friendly Banking partners and BTM Operators.” 

BankLine strives to become the ultimate end-to-end cash management and banking service solution for the Crypto BTM industry by enabling a more efficient, controlled and cost-effective services. 

Steve Bessen, BankLine’s National Sales Director, adds, “Streamlined control of the cash cycle, improved cash reporting from multiple locations, and faster reconciliation, will allow BankLine’s clients to more efficiently rotate working capital and redirect energy towards growth and expansion.”

Optimize Cash Management

BankLine’s business model is based on improving the acceleration of working capital to the Merchant Account, a stark contrast to the traditional banking model, whose philosophy is based on trapping and floating the Merchant’s capital for as long as possible.

BankLine is the only Crypto-friendly banking solution that offers a portfolio of redundant Cryptocurrency-friendly depository institutions willing to serve the varied needs of the Cryptocurrency industry. Our network of Crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provide ongoing, sustainable banking services.

Our team is available 24/7 to answer your questions and help you navigate business operations.

Find Out Why Top Crypto Businesses Trust BankLine

Contact BankLine’s customer care team at 800-409-1647 or submit an inquiry for more information on how we’re improving the way Crypto Operators do business.