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TIPS to Avoid Being a Victim of Cash Robberies for Individuals

If you need to pay accounts, consider options that are lower risk instead of withdrawing large sums of cash. Apply the following TIPS to avoid being a victim:

  • Carry as little cash as possible
  • Consider the convenience of paying your accounts electronically (consult your bank to find out about other available options)
  • Consider making use of cell phone banking or internet transfers or ATMs to do your banking
  • Never make your bank visits public, even to people close to you

TIPS to Avoid Being a Victim of Cash Robberies for Businesses

A small business which is cash based and needs to deposit money on a regular basis at the bank should apply the following TIPS which will minimize the chances of you being a victim of robberies:

  • 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 is advisable to identify another branch nearby you that 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.
  • Consider arranging for electronic transfers of wages to contract or casual labourers’ personal bank accounts.

TIPS to Avoid Being a Victim of Cash Robberies for Savings Clubs and Stokvels

If you are a member of a cash savings club, advise members of your club of the following TIPS that will assist your club from being victim to cash robberies:

  • Refrain from making cash deposits of club members’ contributions on high risk days (e.g. Monday after month end)
  • Ensure persons depositing club cash contributions or making withdrawals are 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.
  • Arrange for the club’s pay-out to be electronically transferred into each club member’s personal account or accounts of their choice
  • Take another person with when going to deposit club cash contributions

Source: Scams and Safety Tips | Sabric