Do you always have cash on you? stay safe with these tips

The South African Police Service (SAPS) has released tips for cash users to help them stay safe.

The police have advised residents to consider lower-risk options when paying accounts, instead of withdrawing large sums of cash and to carry as little cash on them as possible. Rather pay your accounts electronically and use cell phone banking or internet transfers or ATMs to do your banking or consult your bank to find out about other available options.

A small business which is cash-based and needs to deposit money on a regular basis at the bank can use the following tips to help minimise the chances of being a victim of robberies:

• Alternate the days and times on which you deposit cash
• Never make bank visits public, even to people close to you
• Do not openly display money while you are standing in the bank queue
• Avoid carrying money bags, briefcases or openly displaying your deposit receipt book
• It’s advisable to identify another branch nearby you can visit to ensure that your banking pattern is not easily recognisable or detected
• If the amount of cash you are regularly depositing is increasing as your business grows, consider using the services of 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 payday
• Consider arranging for electronic transfers of wages to your contract or casual labourers’ personal bank accounts.

The police also said that, as a precaution, members of cash savings clubs are advised to refrain from making cash deposits of club members’ contributions on high-risk days (such as the Monday after month-end. The person depositing club cash contributions or making withdrawals should be accompanied by another club member. A stokvel, savings club or burial society can arrange for members to deposit cash directly into the club’s account instead of collecting cash contributions. Lastly, arrangements can be made for the club’s pay-out to be electronically transferred into each club member’s personal account or accounts of their choice.

Related article: