Behind that simple transaction of exchanging currency is an intricate network known as the cash supply chain, supporting the distribution of cash. Currently, financial institutions, armored carriers, and retailers rely on paper and physical signatures to document cash package transfers between supply chain participants. These transactions take longer, and have potential for human error.
Cash Visibility is an industry-wide initiative that involves implementing a standardized framework for identifying, tracking, and electronically exchanging information about cash packages that move between and among participants in a way that allows integration of process and information flows within and across these organizations, including manufacturers, suppliers, distributors, and even end users.
To support and promote the many benefits to be gained through the Cash Visibility initiative, FedCash® E-manifest is now available through FedLine to armored carriers and financial institutions when making currency deposits at the Federal Reserve Bank. FedCash® E-manifest uses the Cash Visibility standards to support the Federal Reserve’s transition to digital exchanges of cash package information.
FedCash® E-manifest is Utilizing Industry Standards
- This improves cash supply chain efficiency and resilience, and product information quality. Using established industry standards, this supports the transition to digital exchanges of cash package information between the Federal Reserve and armored carriers.
- While not currently mandated by the Federal Reserve, E-manifest, instead offers an opportunity to exchange cash package data/information and physical currency deposits more efficiently and accurately.
The Benefits of FedCash® E-manifest
There are many benefits to FedCash® E-manifest:
- Less paper - Reduces dependence on paper deposit tickets and manifests.
- More efficient - Accelerates dock exchanges with armored carriers. Transactions are quicker, and have less potential for human error.
- Enhanced controls - Enhances controls, decreases data discrepancies and expedites issue resolution.
- Standard data exchanges -Standardizes data exchange between all supply chain participants.
How Financial Institutions and Armored Carriers Can Participate in FedCash® E-manifest
- Work with GS1 (Off-site) to obtain your GS1 Company Prefix
- Assign your Global Location Number(s) (GLN) for locations where your organization wants to use E-manifest
- Financial institutions and armored carriers should confirm that the necessary information can be collected to generate the What to Expect (WTE) files with denominational breakdowns by cash package
- Order bags with your unique identifying Serial Shipping Container Code (SSCC) barcode
For more information, contact: CVIndustry@frb.org
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