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Create Branch Vault

Overview​

The Create Branch Vault feature enables banks to set up dedicated cash vaults for each branch location to manage physical currency holdings and facilitate teller operations.

What It Does​

Creates a new vault account for a branch with configurable limits, currency types, and approval settings. Each vault serves as a central repository for branch cash operations and feeds teller tills throughout the day.

Business Value​

  • Cash Management: Centralizes branch cash holdings in secure vault accounts
  • Operational Efficiency: Streamlines cash allocation to tellers and reduces delays
  • Control & Security: Enforces balance limits and approval workflows
  • Multi-Currency Support: Manages different currencies within same branch
  • Audit Trail: Maintains complete history of all vault activities

Who Uses This Feature​

  • Branch Managers: Set up and configure branch vaults
  • Treasury Officers: Monitor vault balances across branches
  • Operations Teams: Ensure adequate cash availability
  • Auditors: Review vault configurations and limits

Key Capabilities​

  • Create multiple vaults per branch for different currencies
  • Set minimum and maximum balance thresholds
  • Configure approval requirements for large transactions
  • Track real-time vault balances
  • Support both opening balances and zero-start vaults

How to Use​

  1. Navigate to Vault Management section
  2. Select "Create Branch Vault"
  3. Choose the branch location
  4. Specify currency code (NGN, USD, etc.)
  5. Set balance limits (min/max)
  6. Configure approval settings if needed
  7. Submit to create the vault

Common Use Cases​

  • New Branch Opening: Set up initial vault when opening new branch
  • Multi-Currency Branches: Create separate vaults for each currency traded
  • Seasonal Adjustments: Establish temporary vaults for peak periods
  • Security Separation: Create dedicated vaults for high-value currencies

Important Considerations​

  • Each branch can have multiple vaults (one per currency)
  • Maximum balance limits prevent over-accumulation of cash
  • Minimum balance ensures adequate liquidity for operations
  • Initial vault balance starts at zero until funded
  • Only active branches can have vaults created

Integration with Other Processes​

Works seamlessly with:

  • Fund Vault: Add cash to vault from external sources
  • Teller Till Management: Allocate cash from vault to tellers
  • Cash Transfer: Move cash between vaults
  • Branch Management: Links to branch configurations