New Crypto-Friendly Banks Provide Overnight Funds
BankLine expanded its portfolio of Crypto-friendly banks offering Provisional Posting - enabling overnight availability of funds for Crypto ATM operators.
MIAMI, August 2, 2022 (Newswire.com) - BankLine continues its commitment to the Crypto ATM industry by increasing partnerships with Crypto-friendly banks while expanding its comprehensive services.
Protecting Clients From Bank Discontinuance
BankLine's unique position as the only provider of multiple Crypto-friendly bank options under one roof affords its clients security against bank discontinuance, while its wide range of services supports their ability to scale in new directions.
By adding additional bank partners, BankLine ensures redundancy for its clients.
Provisional Posting software provides Crypto ATM operators access to funds received for each day's sales activity the following morning by 9:00 a.m. ET, giving BankLine's partner banks and Crypto ATM operators a distinct advantage.
Overnight availability of funds transforms the Crypto ATM industry, allowing BankLine's Crypto ATM operators to reduce or eliminate the need for lending lines and related interest charges, creating a more self-reliant path toward corporate expansion.
Provisional Posting LLC's patent-pending software, developed by banking veterans, provides financial institutions with a robust set of back office reconciliation tools, automated CTR reporting, and complete visibility of the cash cycle, greatly enhancing efficiencies.
Provisional Posting LLC's software is engineered to be compatible with Genesis Coin, General Bytes, Bitaccess, zzBit and other customized Crypto ATM software solutions.
Steve Bessen, BankLine's Director of Sales, is quoted as saying: "BankLine's focus on providing a bank-centric solution meets all of the reconciliation demands required by the banks' back office. This attention to detail allows BankLine's partner banks to confidently offer overnight availability of funds to Crypto ATM operators, distancing themselves from banks that do not provide competitive service. BankLine continues to expand Provisional Posting to additional bank partners. Clearly, Provisional Posting is the future of the Crypto ATM industry."
BankLine is the only Crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the varied needs of the Crypto industry. BankLine's network of Crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.
Each BankLine customer has a direct relationship at an FDIC-insured depository institution. The accounts are titled in the business entity's name and are exclusive for the entity's activity.
By contracting with more than 300 cash vault facilities managed by Loomis, Brinks, and Garda. BankLine's banks currently provide service to more than 29,000 BTM locations in the continental U.S., Hawaii, Alaska and Puerto Rico.
In addition, BankLine's partner banks provide over the counter services for online Crypto companies.
Learn more at bankline.com
About Provisional Posting LLC
Provisional Posting software was developed to integrate and automate daily deposit and cash extraction information. Electronic data from Crypto ATMs and armored carriers is transmitted to the Crypto ATM operator's bank. Provisional Posting software facilitates overnight credit and availability of funds directly to the Merchant DDA bank account by the following morning at 9:00 a.m. Eastern Time.
Overnight availability of funds provides Crypto ATM operators with an accelerated rotation of working capital and increased efficiency, resulting in greater profit.
Banks utilizing the Provisional Posting LLC patent-pending software eliminate the need for time-consuming manual reconciliation and posting, reduce keying errors, and more efficiently manage the CTR filing process.
Learn more at Provisional Posting LLC.