Hansab's cash transportation service expands

In November 2021, we started cooperating with Coop Pank to offer Hansab's cash transport and processing service to Coop Pank's business customers.

Erje Mettas, Head of daily business customers banking at Coop Pank, commented in their press release:

“Although the share of cash has declined over time while the share of digital payment solutions is growing, paper money and coins are not going anywhere. In the third quarter of this year alone, the Bank of Estonia issued 298 million euros, which is almost a fifth more than in the second quarter. As long as consumers use cash, businesses will have to deal with the transportation of cash – and the most important factor here is the security of the service.”

Hansab Estonia entered the CIT market at the end of 2019 and have already achieved significant market share by that time. Our largest customers are Coop, Tallinna Kaubamaja and Selver, Prisma, Maxima, OG Elektra, Euronics and K-Rauta. Last year, the Estonian Association of Security Companies recognized Hansab's cash transport and processing service with the title "Security Field Act of the Year 2020".

Ando Allik, Head of Hansab's Cash Transport and Processing Department, comments:

“We help to securely transport cash, transfer cash to bank accounts on time and, if necessary, order money for change. We have also implemented a number of innovative technology solutions that make the cash handling process fully automated and secure. From now on, the clients of Coop Pank can also use these services.”

In addition to Coop Pank's business customers, Hansab also offers various cash services to Swedbank's and SEB Pank's business customers.

Estonian-owned Coop Pank is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking is 110,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti comprising of 330 stores.