It is a slotted locked box to which staffs of the Bank branch alone holds the key.
Underlying Features of the Product
No matter what customer business is, whatever customer do, customer can save even fraction of cents every day but customer don’t need to come to our bank every day;
The services described here might be offered weekly, bi-weekly, daily or when depositors want;
The box provides a round-the-clock deposit service while withdrawals can be made only when a collector visits or the saver goes to the branch;
In all cases, frequent, convenient access is the key to collecting savings before it is consumed;
Although these services may be financially viable or nearly so, they typically are not lucrative so interesting financial institutions in offering them can be challenging;
While customers/users of the product are ideal for collecting small change, after a time, the practice of saving may be needed to encourage them to continue saving.
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