A Financial Institution engaged in a physical handling of Banknotes and most commonly offering remittance services. It may execute Orders whilst submitted by the people who are physically present and provide Banknotes or Orders which allow them to redeem Banknotes.
Cash Office works by physically handling the Banknotes. It is a place where Originator and Beneficiary can come to cash out the money. They function by processing Orders through the Payment Systems. As well, other Financial Institutions which do not physically handle Negotiable Instruments may submit Orders to Cash Offices by allowing their Customers to redeem stored value in form of Banknotes.