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Police warn that cash robberies are on the increase and vulnerable people such as the elderly, women, children, the disabled and business owners to explore alternatives to withdrawing and carrying large sums of cash.
Consider paying accounts electronically ,making use of cell phone banking, internet transfers or ATMs to do your banking.
Tips for small businesses
A small business which is cash based and needs to deposit money on a regular basis at the bank should apply the following:
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. 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.
Tips for savings clubs and stokvels
If you are a member of a cash savings club, advise members of your club of the
following:
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.
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