Keeping less cash on your premises

Township traders are increasingly becoming targets of crime. One of the main reasons that spaza shops and taverns are targeted is because criminals know that there is always money in the tills.

Most township business owners don’t have the luxury of insurance cover to fall back on should they fall prey to a robbery but these business owners need to find different ways to protect their businesses and staff. Cash related risks remain a challenge for small business owners but there are different products and solutions available when it comes to cash management.

Make use of Automated Depositor Terminals (ADT’s)

Business owners who want to physically deposit money into their account could deposit cash into an advanced ATM, which many banks now have available. Business owners can save time because they are no longer confined to the normal business hours of a branch where they would have to stand in a queue. Deposit fees are often cheaper than when depositing inside a branch. After cash deposits, the funds are available in your account immediately.

Safety tips for manually depositing cash

• Alternate the times and days on which you deposit cash.
• Never make your bank or ATM visits public, even to people close to you.
• Do not openly display the money you are depositing while you are standing at an ATM or in a bank queue.
• Avoid carrying money bags or briefcases when approaching an ATM or when standing in a bank queue.
• It’s advisable to identify another branch or ATM nearby that you can visit to ensure that your banking pattern is not easily recognizable or detected.
• Avoid paying wages in cash to your staff and consider arranging for electronic transfers for wages to your contract or casual labourers’ personal bank accounts.

Use an electronic cash accepting device

If you require a more advanced approach to your cash management offering and immediate deposits into account, you could go for an electronic cash accepting device - which is a highly secure, cash accepting device. If a business uses an electronic cash accepting device, their cash is guaranteed by the bank even in the event of theft. Furthermore, your cash will be accessible via your bank account as soon as cash in transit collection occurs, so you do not even have to wait for the cash in transit vehicle to arrive at your bank’s cash centre before you have access to your money.

Use bank guaranteed cash management solutions 

Instead of storing cash at your premises, arrange for your cash to be frequently collected from your premises and delivered to your bank’s cash centres. This way it can be counted and credited to your account immediately.  

If alternative cash management solutions are out of your reach. Consider the following safety tips to keep your business and staff safe and protected against crime.

Do not keep large amounts of money in the tills. Rather move your cash off the premises regularly

• Do not close your business the same time every evening
• Close the shop earlier on quiet days and days scheduled for load shedding
• Install CCTV cameras and set it to record 24 hours
• Install silent alarms and panic buttons
• Make sure alarms are in a good working condition and activated when your business is closed
• Install security gates and keep them locked if your business is still open after dark
• Report business robberies to the police as soon as possible