NAICS Code 423420-05 - Bank Equipment & Supplies (Wholesale)

Marketing Level - NAICS 8-Digit

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Phone Numbers: 89
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NAICS CODE 423420-05
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NAICS Code 423420-05 Description (8-Digit)

Bank Equipment & Supplies (Wholesale) is a subdivision of the NAICS Code 423420 that involves the wholesale distribution of equipment and supplies specifically designed for use in banks. This industry is responsible for providing banks with the necessary tools and equipment to operate efficiently and securely. The products distributed by Bank Equipment & Supplies (Wholesale) companies are essential for the day-to-day operations of banks, including cash handling, security, and record-keeping.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 423420 page

Tools

Tools commonly used in the Bank Equipment & Supplies (Wholesale) industry for day-to-day tasks and operations.

  • Currency counters
  • Coin counters
  • Check scanners
  • Cash drawers
  • Deposit bags
  • Vault doors
  • Safe deposit boxes
  • ATM machines
  • Teller pedestals
  • Drive-up equipment
  • Security cameras
  • Alarm systems
  • Fireproof filing cabinets
  • Key management systems
  • Time clocks
  • Lobby furniture
  • Queue management systems
  • Digital signage
  • Electronic signature pads

Industry Examples of Bank Equipment & Supplies (Wholesale)

Common products and services typical of NAICS Code 423420-05, illustrating the main business activities and contributions to the market.

  • Cash handling equipment
  • Bank vaults
  • ATM machines
  • Security cameras
  • Check scanners
  • Deposit bags
  • Teller pedestals
  • Drive-up equipment
  • Safe deposit boxes
  • Key management systems

History

A concise historical narrative of NAICS Code 423420-05 covering global milestones and recent developments within the United States.

  • The "Bank Equipment & Supplies (Wholesale)" industry has a long history dating back to the early 20th century when the first mechanical calculators were introduced. The industry has since evolved to include a wide range of products such as cash handling equipment, safes, and security systems. Notable advancements in the industry include the introduction of electronic calculators in the 1960s, the development of ATMs in the 1970s, and the introduction of biometric security systems in the 2000s. In the United States, the industry has seen significant growth since the 2008 financial crisis, with banks investing heavily in new technology to improve efficiency and security. For example, many banks have implemented cash recycling machines that can count and sort cash, reducing the need for manual labor. Overall, the "Bank Equipment & Supplies (Wholesale)" industry has played a crucial role in the development of modern banking and continues to innovate to meet the changing needs of the industry.