Overview
Vaultex processes cash deposits and prepares notes and coins for banks, businesses and cash machine operators. Its sites receive and count cash, check note quality, reconcile deposits and arrange credits to customer bank accounts. The company also prepares cash orders and packs ATM cassettes, working with customers' cash transport providers to return currency to circulation. Customers purchase cash processing, supply and outsourced depot services, while an online portal provides deposit reports and account reconciliation tools as part of that service. Formed in 2007, Vaultex is headquartered in London, United Kingdom, and operates cash processing facilities across the country.
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Simplify's Take
What believers are saying
- Vaultex's London Cash Processor package specifies a 10% employer pension contribution alongside 4% employee contributions.
- In February 2026, Vaultex announced April minimum-pay increases and proportional uplifts across its wider workforce.
- Vaultex's VaultExcel program develops cash processors' management skills in leadership, motivation and managing change.
What critics are saying
- Vaultex reports bank-branch coin deposits by value fell approximately 80% over seven years, reducing processing demand.
- Vaultex's London Cash Processor role requires prolonged standing, cash-bag lifting and meeting daily processing deadlines.
- Vaultex limits private medical cover to management employees; its broader cash health plan reimburses specified treatments.
What makes Vaultex unique
- Vaultex is jointly owned by HSBC and Barclays, linking its cash infrastructure to two banking groups.
- Vaultex packs ATM cassettes directly from high-speed note sorters, eliminating intermediate single-use plastic note packaging.
- Vaultex partners with Coventry University on accredited work-based degree apprenticeships for existing employees.
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