Working to Bank of England rules, Vaultex helps keep cash in circulation while removing old, damaged and forged notes and coins.
Over 32 thousand cash payments are made every minute in the UK (2015). Over £130 billion of that cash is sent by banks and businesses to one of our 12 UK cash and coins sites every year.
As the UK’s leading cash processor, it is Vaultex’s job to count and check that cash before paying it into the customer’s bank accounts.
Once we’ve processed the cash, we send it back out into circulation via bank branches and ATM machines so it can be used again.
In addition to cash processing, Vaultex offers a range of cash services for our customers. These include managing ATMs on behalf of banks, removing coins from circulation and industry consultancy advice.
We also play an important part in introducing new currency into circulation, such as the new one pound coin and the £5 and £10 polymer banknotes.