Carrying cash safely

2015-10-21 06:00

AVOID being a victim of a cash robbery. South African Banking Risk Information Centre (Sabric) and SAPS have issued the following tips:

• Carry as little cash as possible.

• Consider paying your accounts electronically.

For small businesses the following tips to avoid being robbed of cash:

• Alternate the days and times on which you deposit cash.

• Never make your bank visits public, even to people close to you.

• Do not openly display the money you are depositing while in the bank queue.

• Avoid carrying money bags, briefcases or openly displaying your deposit book.

• If the amount of cash you regularly deposit is increasing as your business grows, consider using a cash management company.

• Refrain from giving wages to your contract or casual labourers in full view of the public, rather make use of wage accounts that can be provided by your bank.

• Refrain from driving to the bank in your company branded vehicle on a typical “pay day”.

• Consider arranging for electronic transfers of wages to your contract or casual labourersand#039; personal bank accounts.

And tips for savings clubs and stokvels

• Refrain from making cash deposits of club membersand#039; contributions on high risk days (e.g. Monday after month end).

• Ensure persons depositing club cash contributions or making withdrawals are accompanied by another club member.

• A stokvel, savings club or burial society, can arrange for members to deposit cash directly into the cluband#039;s account instead of collecting cash contributions.

• Arrange for the cluband#039;s pay-out to be electronically transferred into each club memberand#039;s personal account or accounts of their choice

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