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Coop Bank - Stocksmaster's 1st Play 2013
Rank: Member Joined: 7/24/2010 Posts: 239 Location: nairobi
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Boris Boyka wrote:Chaka wrote:Boris Boyka wrote:
Take deposit slip and pass through a machine thats just adjacent to drop box. The slip is stamped.
Tear off original slip,wrap in the cash/cheque,put in.the envelope and seal.
Drop the envelope in box.
Retail duplicate slip as your copy.( contains stamp)
After 1-2 hrs you receive sms on the mobile no you left indicating details if transaction.
I have those slips i did with.
So who confirms that you have actually deposited cash before the deposit slip is stamped? The box is opened every hour by 2/3 individuals under cctv. If there are anormalies you're notified in sms. The cctv gives evidence. Ever done deposit at ATM? Anyway it doesn't mean there couldn't be colluding but its higher % secure. Colluding could mean a lot of effort. Inserting less cash and filling more cash would inconvinience one. Simply i think its based on morality. Why not install cash deposit atm's like the ones with equity.
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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Boris Boyka wrote:Chaka wrote:Boris Boyka wrote:
Take deposit slip and pass through a machine thats just adjacent to drop box. The slip is stamped.
Tear off original slip,wrap in the cash/cheque,put in.the envelope and seal.
Drop the envelope in box.
Retail duplicate slip as your copy.( contains stamp)
After 1-2 hrs you receive sms on the mobile no you left indicating details if transaction.
I have those slips i did with.
So who confirms that you have actually deposited cash before the deposit slip is stamped? The box is opened every hour by 2/3 individuals under cctv. If there are anormalies you're notified in sms. The cctv gives evidence. Ever done deposit at ATM? Anyway it doesn't mean there couldn't be colluding but its higher % secure. Colluding could mean a lot of effort. Inserting less cash and filling more cash would inconvinience one. Simply i think its based on morality. @Boris - You totally missed the question!!! What @Chaka is asking is, what will stop a crafty parent for example, from walking into a banking hall, filling in a deposit slip and getting it stamped and walking out without depositing the money??? There is no one to confirm if the money has actually been deposited! The parent then forwards the deposit slip to the school to buy himself some time before getting money and actually depositing money weeks later. All he has to do is to walk back to the school and tell them there was a problem with the previous transaction and present the new slip. The school will soon catch on and will no longer accept the slips as proof of payment!!! And this was even happening before to some extent. I was paying school fees for someone and the fee structure they presented to me read "we don't accept deposit slips from Coop kwa Jirani". The school's account is at Coop!!! They must have experienced some funny things with Coop kwa Jirani slips!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Boris Boyka wrote:Chaka wrote:Boris Boyka wrote:
Take deposit slip and pass through a machine thats just adjacent to drop box. The slip is stamped.
Tear off original slip,wrap in the cash/cheque,put in.the envelope and seal.
Drop the envelope in box.
Retail duplicate slip as your copy.( contains stamp)
After 1-2 hrs you receive sms on the mobile no you left indicating details if transaction.
I have those slips i did with.
So who confirms that you have actually deposited cash before the deposit slip is stamped? The box is opened every hour by 2/3 individuals under cctv. If there are anormalies you're notified in sms. The cctv gives evidence. Ever done deposit at ATM? Anyway it doesn't mean there couldn't be colluding but its higher % secure. Colluding could mean a lot of effort. Inserting less cash and filling more cash would inconvinience one. Simply i think its based on morality. Ahhh, yes. Kenyans do very well on that score. From the guy at the top, his father, his father's successor, his deputy, etc down to the cop on a beat. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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@Maichblack noted. However,you also missed my points. By saying that i meant non verifies. Also read all after Filling.......I have talked of basing on morals. Am not a coop employee. I had to give all sides of the the verification,i understand you're glued to the parents school fees issues... Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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This is taking the concept of self service too far and more so to prehistoric times.
Have seen equity and BBK with machines where you deposit and get credit immeditely . why reverse the clock.
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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Boris Boyka wrote:@Maichblack noted. However,you also missed my points. By saying that i meant non verifies. Also read all after Filling.......I have talked of basing on morals. Am not a coop employee. I had to give all sides of the the verification,i understand you're glued to the parents school fees issues... 1) People don't trust you!! Don't kid yourself! That is why they insist on proof of payment. And that applies to all businesses. Otherwise they would just tell you how much to pay and where and that would be the end of the story! 2) School fees payment was just one example. And I chose it for two reasons. One, I have an experience with it - "We don't accept Coop kwa Jirani slips". Two, most schools, colleges and universities insist on cash deposits in their accounts. No personal cheques, bank transfers etc. Some even discourage/decline bankers cheques to make their operations smoother. Schools are therefore a good example when it comes to cash deposits. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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streetwise wrote:This is taking the concept of self service too far and more so to prehistoric times. And not very smart given the competition for deposits. In cases where an Organization has multiple bank accounts and proof of payment is required then one will simply go to any of the other banks! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kawi254 wrote:Walked into a Coop bank to deposit cash this morning and they have gotten rid of deposit tellers. You fill in a deposit slip and put the money + deposit slip in a sealed paper bag and drop them into a box.
Looks like a McKinsey cost cutting reform but not sure how it will work out. Is it something like this?   "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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VituVingiSana wrote:Boris Boyka wrote:Chaka wrote:Boris Boyka wrote:
Take deposit slip and pass through a machine thats just adjacent to drop box. The slip is stamped.
Tear off original slip,wrap in the cash/cheque,put in.the envelope and seal.
Drop the envelope in box.
Retail duplicate slip as your copy.( contains stamp)
After 1-2 hrs you receive sms on the mobile no you left indicating details if transaction.
I have those slips i did with.
So who confirms that you have actually deposited cash before the deposit slip is stamped? The box is opened every hour by 2/3 individuals under cctv. If there are anormalies you're notified in sms. The cctv gives evidence. Ever done deposit at ATM? Anyway it doesn't mean there couldn't be colluding but its higher % secure. Colluding could mean a lot of effort. Inserting less cash and filling more cash would inconvinience one. Simply i think its based on morality. Ahhh, yes. Kenyans do very well on that score. From the guy at the top, his father, his father's successor, his deputy, etc down to the cop on a beat. And the whole of the opposition!! All corrupt!!! Government AND opposition. I am sure you just forgot that part @vvs. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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MaichBlack wrote:Boris Boyka wrote:@Maichblack noted. However,you also missed my points. By saying that i meant non verifies. Also read all after Filling.......I have talked of basing on morals. Am not a coop employee. I had to give all sides of the the verification,i understand you're glued to the parents school fees issues... 1) People don't trust you!! Don't kid yourself! That is why they insist for proof of payment. And that applies to all businesses. Otherwise they would just tell you how much to pay and where and that would be the end of the story! 2) School fees payment was just one example. And I chose for two reasons. One, I have an experience with it - "We don't accept Coop kwa Jirani slips". Two, most schools, colleges and universities insist on cash deposits in their accounts. No personal cheques, bank transfers etc. Some even discourage/decline bankers cheques to make their operations smoother. Schools are therefore a good example when it comes to cash deposits.  Remember the chill pills you once gave me?? go take some because you are now confused. Disclaimer :AM NOT a coop employee or consultant...mimi ni customer. ill be back shortly. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Coop Bank - Stocksmaster's 1st Play 2013
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