Managing cash donations well keeps vital funds flowing to the people you support. This guide explains practical steps and highlights how Toucan Cash simplifies handling physical contributions whether you run street collections or accept donations at events.
Toucan Cash - Key features for managing cash donations
Toucan Cash is designed for charities and fundraisers who need a reliable and simple way to deposit cash. It works alone or with Toucan Collect and connects to major retail networks including PayPoint, PayZone, and the Post Office. You can deposit notes and coins at over 60,000 locations across the UK, most open early till late, seven days a week. Post Office branches also accept cheques and high deposit limits let you add up to £999 at the Post Office, and PayZone, and up to £200 at PayPoint. Multiple deposits are allowed - the app generates a unique barcode and receipts are stored digitally, helping you reconcile faster.
How Toucan Cash works for managing cash contributions
Sign up is straightforward. One authorised representative completes onboarding, uploads a recent bank statement and provides ID for a trustee. Once approved, your dashboard will let you create campaigns with a unique QR code, which fundraisers scan in the Toucan Collect app. Fundraisers generate a deposit request, enter the amount, and reference, then produce a barcode for the teller to scan. After processing, the receipt is scanned back into the app and funds are settled into your bank account within days. This reduces the need to store cash at home and eliminates the use of banks – which can often have difficult opening/closing hours, as well as being busy.
Reconciliation is simple with the Toucan Dashboard, allowing you to match settlements in your bank account to individual deposits, identifying who made the deposit, the campaign it belongs to, the value and other key details.
Practical cash handling advice for charities
Some simple procedural steps to follow when handling cash:
- Start with a written policy that outlines clear procedures for cash counting, banking schedules or locations and secure storage practices.
- Train your volunteers to follow two person counts and sign off procedures.
- Try and keep a modest petty cash float, keep receipts for every withdrawal and reimburse volunteers by bank transfer when possible.
- Reconcile income regularly and investigate any differences promptly.
- Carry out risk assessments for collections, also check your insurance for events and cash on site.
- Use CCTV and sign in sheets for higher value activities and ensure volunteers can contact supervisors if needed.
Integrating Toucan Cash into your processes
Toucan Cash links physical collections to digital records, making reconciliation simple. With a large retail network, deposits are accessible for fundraisers across urban and rural areas. The dashboard enables you to monitor activity, create campaigns by user, area, event and more, while providing comprehensive reporting and reconciliation tools.
For regulatory advice see the Charity Commission guidance and practical tools from the NCVO to strengthen your controls.
Take a few steps to protect donations and save admin time. Try Toucan Cash to make cash deposits simple, secure and efficient for your charity. Talk to our team today!
Toucan Cash is a service offered within Toucan Collect, a mobile app available on both iOS and Android.
