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.
Click to receive news links via WhatsApp. Or for the latest news, visit our webpage or follow us on Facebook and Twitter. Join us there!