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FEES ON VIRTUAL VAULT SERVICES
6 Months Ended
Jun. 30, 2025
Fees On Virtual Vault Services  
FEES ON VIRTUAL VAULT SERVICES

NOTE 13. FEES ON VIRTUAL VAULT SERVICES

 

Virtual Vault is a term used in the Armored Car and Cash Transport industry to define a service provided by armored car services for assets considered property of the bank when the bank does not have a physical vault or location in a given state or location. The fees for virtual vault services included in the Company’s condensed consolidated statements of operations and comprehensive income are for a currency availability service provided to the Company by its bank for making funds held in a virtual vault immediately available to the Company. Neither the term nor the service is related to virtual currency or crypto assets.

 

Fees on Virtual Vault Services were $383 thousand and $561 thousand for the three months ended June 30, 2025 and 2024, respectively, and $837 thousand and $1,106 thousand for the six months ended June 30, 2025 and 2024, respectively.