A small business that is cash-based and needs to deposit money on a regular basis at the bank should apply the following tips to minimise the chances of being the victim of a robbery:
- 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 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 that you can visit to ensure that your banking pattern is not easily recognisable or detected.
Also read: Warning: Police warn the public not to carry around large sums of cash
Also read: Stay alert when using ATMs or carrying cash so you don’t become a target for criminals
- 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 ‘pay day’.
- Consider arranging for electronic transfers of wages to your contract or casual labourers’ personal bank accounts.
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