With the frequent advances in technology, carrying large sums of money is no longer necessary as payments can be easily made without cash physically exchanging hands.
Follow these tips to safely manage carrying cash.
For individuals:
Apply the following tips to avoid being a victim:
- Carry as little cash as possible.
- Consult your bank to find out how you can pay your accounts electronically.
- Make use of cellphone banking or internet transfers to do your banking.
For businesses:
A small business that needs to deposit money on a regular basis, should consider applying the following tips:
- 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 moneybags, briefcases or openly displaying your deposit receipt book.
- Visit different branches to ensure that your banking pattern is not easily recognisable or detected.
- If the amount of cash you regularly deposit 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.
Source: www.sabric.co.za
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