Swedbank has launched Q-CashRouter (QCR), a new cash recycling machine, designed to reduce cost for cash handling and to increase security.

Combined with two side units for cash withdrawal, QCR enables the store owner to deposit the daily amount and to receive a confirmation of an immediate credit to the bank account. This happens simultaneously as other customers make cash withdrawals from the side units. The bank said that the QCR-machine has been developed by BANQIT, a Sweden company within the cash handling field.

Kjell Hedman, head of Swedish banking at Swedbank, said: As the handling of cash is costly and affects both the environment and the safety at our offices, we work actively with different types of solutions. We are convinced that this venture will make the days of our customers and employees a little easier.

Leif Lundblad, CEO of BANQIT, said: With QCR-machines the volume and cost for cash handling can be reduced with up to 50%, as the cash is recycled locally several times in. This does not only lower the risk for robbery of transports but also the risk for robbery at bank branch offices.