Tips for Carrying Cash Safely

Publication Date: 24/06/2020

Tips for Carrying Cash Safely

Tips for Individuals

  • 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 for Businesses

  • Vary 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.
  • 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 labourer’s personal bank accounts.