New crypto-friendly banks make funds available overnight

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

Protect customers from bank interruptions

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

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By adding additional banking partners, BankLine provides redundancy to its customers.

Transform services

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

The daily availability of funds is transforming the crypto ATM industry, enabling BankLine’s crypto ATM operators to reduce or eliminate the need for lines of credit and related interest costs, creating a more independent 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 reports and full cash cycle visibility, dramatically improving 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 addresses all the reconciliation requests required by banks’ back offices. This attention to detail enables BankLine’s partner banks to confidently offer overnight availability . funds for Crypto ATM operators, distancing themselves from banks that do not provide a competitive service. BankLine continues to expand the preview to other bank partners. It is clear that the preview is the future of the Crypto ATM industry.

About BankLine

BankLine is the only crypto-enabled banking solution that offers a portfolio of redundant financial institutions ready to meet the diverse needs of the crypto industry. BankLine’s network of crypto-enabled banks and services helps mitigate the threat of bank abandonment and provides continuous, sustainable and scalable banking and support services.

Each BankLine customer has a direct relationship with an FDIC-insured depository institution. Accounts are named in the name of the business unit and belong to the business of the unit.

By contracting with more than 300 secure installations operated 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 provide over-the-counter services to online crypto businesses.

Find out more at bankline.com

About Provisional Posting LLC

Interim accounting software has been developed to integrate and automate daily cash deposit and withdrawal information. Electronic data from Crypto ATMs and armored carriers are transferred to the Crypto ATM operator’s bank. The preparation software facilitates daily credit and funds availability directly to the business’s DDA bank account the next morning at 9:00 AM EST.

The overnight availability of funds gives Crypto ATM operators an accelerated turnover of working capital and increased efficiency, which translates into higher profits.

Banks using Provisional Posting LLC’s patent-pending software eliminate the need for time-consuming manual reconciliation and bookkeeping, reduce entry errors and manage the CTR deposit process more efficiently.

Learn more about Provisional Posting LLC.

Media contact:

Andy Benjamin
1-800-409-1647
sales@bankline.com

Related images

Image 1: Expanded BankLine portfolio

BankLine’s portfolio of crypto-enabled banks offering pre-publication has just expanded

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  • Expanded BankLine portfolio

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