SBV Services (Pty) Ltd is a company that is owned by the four major banks in South Africa which provide cash processing and transportation services to the banking industry.
SBV Services (Pty) Ltd was established in 1986 by the then Standard, Barclays and Volkskas banks in order to realise operational savings through interbank co-operation in respect of wholesale cash processing and Cash-in-transit distribution.
SBV plays the dominant role in the Wholesale cash -processing and -management industry and has 11 wholesale cash centres strategically located within South Africa. Wholesale cash processing caters for cash movements between the South African Reserve Bank and bank branches. SBV is the master player in the Wholesale market with a penetration of approximately 90%.
SBV then extended its services to Retail cash processing, which caters for the acceptance and processing of cash deposits (including cheques) for and on behalf of client banks from retailers. This is done in 15 retail cash centres, 7 of which share facilities with Wholesale processing facilities.
Regarding CIT, SBV has two focus areas namely the distribution of money from SBV cash centres to bank branches and back and also the replenishment of ATM’s.