Description of Cash Vault Services Sample Clauses

Description of Cash Vault Services. Cash Vault Services will consist of deposit processing, deposit reporting, and responding to Customer requests (“Currency Orders”) for Bank to make available certain specified amounts of coin and currency (referred to collectively in this section as “Cash”) from Bank’s cash vaults and accept deposits of Cash and checks. The deposit processing features include use of person-to-person contact with Carriers (defined below) that deliver customer deposits and use of currency sorters to process and verify deposits. The deposit reporting feature provides a breakdown of bills deposited, including such information as number of bills and denominations. Transfers shall include (i) Currency Orders from and deposits to a vault owned and operated by Federal Reserve Banks or (ii) Currency Orders from and deposits to a vault owned and managed by the Bank. Maximum or initial limits may be applied, as established from time to time by the Bank for Customer’s use of Cash Vault Services. The Customer shall enter Currency Orders over the phone through the Bank’s Currency Ordering system (“Currency Controller”). The Currency Order for Cash may be for an individual order or orders for multiple days and locations. Customer may amend or cancel a Currency Order, and such amendments or cancellations must be made over the phone through Currency Controller. No amendment or cancellation shall be effective unless it is received by the Bank at a time and in a manner giving the Bank a reasonable opportunity to act before the Bank has processed a Currency Order. After the Bank has processed a Currency Order, no amendment or cancellation will be effective without the express approval of the Bank.