New crypto-friendly banks provide funds overnight

by Arthur · August 2, 2022

MIAMI, Aug. 02, 2022 (GLOBE NEWSWIRE) — BankLine continues its commitment to the crypto-ATM industry by increasing partnerships with crypto-friendly banks while expanding its comprehensive services.

Protect customers against bank liquidation

BankLine’s unique position as the only provider of multiple crypto-friendly banking options under one roof gives customers security against bank disruption, while its broad range of services supports their ability to scale in new directions.

By adding more banking partners, BankLine ensures redundancy for its customers.

Transformation services

Currently posting software allows Crypto ATM operators to access funds received for each day’s sales activity the next morning by 9:00 a.m. ET, giving BankLine’s partner banks and Crypto ATM operators a distinct advantage.

Overnight availability of funds is transforming the Crypto ATM industry, allowing BankLine’s Crypto ATM operators to reduce or eliminate the need for lines of credit and related interest costs, creating a more self-reliant path to business expansion.

Bank-centric solutions

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 cash cycle visibility, significantly increasing efficiency.

Provisional Posting LLC’s software is designed to be compatible with Genesis Coin, General Bytes, Bitaccess, zzBit and other custom 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 the reconciliation requirements required by banks’ back offices. 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 offer competitive services. BankLine continues to expand provisional posting to more banking partners. It is clear that provisional posting is the future of the crypto-ATM industry.”

About BankLine

BankLine is the only crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the diverse needs of the crypto industry. BankLine’s network of crypto-friendly banks and services helps mitigate the threat of bank failure and offers ongoing, sustainable and scalable banking and support services.

Each BankLine customer has a direct relationship with an FDIC-insured depository institution. The accounts are titled in the business entity’s name and are exclusive to the entity’s activity.

By contracting with more than 300 money vault facilities managed by Loomis, Brinks and Garda. BankLine’s banks currently provide service to more than 29,000 BTM locations in the continental United States, Hawaii, Alaska and Puerto Rico.

In addition, BankLine’s partner banks offer 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 withdrawal information. Electronic data from Crypto ATMs and armor carriers is transferred 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 gives Crypto ATM operators an accelerated rotation of working capital and increased efficiency, resulting in greater profits.

Banks using Provisional Posting LLC patent-pending software eliminate the need for time-consuming manual reconciliation and posting, reduce typing errors and manage the CTR filing process more efficiently.

Learn more at Provisional Posting LLC.

Media contact:

Andy Benjamin
1-800-409-1647
[email protected]

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