Bank Pekao in Poland launched a new tool for cash handling for enterprises. The Pekao CashCard allows for an unlimited number of cash deposits directly to the enterprise`s account using the bank’s ATM network.
As the recent NBP survey shows, cash is still a popular form of payment used by Polish consumers. As many as 97.8% of respondents declared that they made payments in cash in 2020. Most of these transactions are carried out with payments up to 50 PLN (approx. 10,89 EUR).
Meeting the expectations of business customers, Bank Pekao S.A. introduced a card without payment functions dedicated only to making payments. The new card allows employees of the enterprise to deposit cash directly to the firm account using the network of Bank Pekao ATMs with a deposit function, located throughout the country. Thanks to the new service, customers can pay cash to company accounts 24 hours a day. The number of payments per day is unlimited, and the payment of revenue using Pekao CashCard will cause the amount paid to be automatically credited to the account assigned to the card.
„Pekao CashCard will allow you to manage your money flow more effectively. Using your deposit card will be simple, fast, and secure. Customers lacked a card whose functionality is limited only to the possibility of depositing funds on the firm`s account. It is a simple solution, but very helpful in running a business where you use cash daily.” said Tomasz Nowakowski, Director of the Transaction Banking Department, Bank Pekao S.A.
To use the new card, all the entrepreneur needs is to do is have a business account in Bank Pekao in Polish zlotys, sign a product agreement, and indicate the users of individual cards. Pekao CashCard is issued for 5 years, and it is activated by making the first transaction with the use of a PIN code. It is only a cash deposit card. It cannot be used to perform any other payment activities.
Source: Bank’s press release from September 30, 2021
