Money is, quite clearly, an important thing for every single business out there. To use a very old phrase, it’s what makes the world go round! Businesses exist to generate revenue by selling a product or service and then using the money to make further investments, allowing the business to expand. In customer-facing environments, cash is often re-circulated with customers and employees exchanging money in return for products, services and leftover change. There are several scenarios where this may be the case, such as supermarkets, banks and car parks. Money has to start and end somewhere, which is where cash in transit security is essential for ensuring that cash transports from one place to another.
In today’s article, we will cover the key points that you need to know about cash in transit. We will explain the basics of what cash in transit is, how a security company can help your business, and steps that are taken to manage risk.
Cash in transit is the process in which physical money, such as coins and banknotes, transports from one location to another location. Whereas online money is stored digitally and transactions are made seamless, cash needs to be transferred physically in the real world. There are several reasons why cash in transit may be required. One such example is cash stored in a car parking payment meter. To receive a parking ticket, customers may insert cash into the machine which is then stored until collection. A cash in transit team will then turn up at the collection time to collect the money and transport it to another destination, such as a bank or business headquarters. The team may also be responsible for inserting cash into the machine so that change can be offered to customers.
A supermarket is another strong example of cash in transit being used. On a daily basis, supermarkets see large crowds flock to the store where they spend thousands of pounds, either in cash or via bank cards. Cash delivery and collection happens throughout the day to ensure that customers can receive change while profits are taken to a secure location. Banks and ATMs are also key locations for massive amounts of money being collected and delivered. All in all, cash in transit is essential in keeping businesses running throughout the day, ensuring that they have money available for themselves and customers.
While digital transactions are more popular than ever, there are still scenarios where cash payment is the only feasible option. Therefore, there’s no hiding away from the fact that your business needs a solution to safely and effectively manage cash that comes in and out of the premises. You can choose to look after your company’s cash in transit operations yourself, but be aware that it is a challenging and complex job with several important responsibilities. Money is not something that should be looked after with a lack of care, especially when large amounts are stored and transported together. If something should happen during a transit job, your business may lose thousands in vital revenue. That’s why cash in transit security can be a really useful service for your business to invest in. With CIT security, your cash will be looked after by a team of security professionals. These professionals will have the experience and skills required to safely collect and deliver cash across locations.
When choosing a cash in transit security company, you should make sure that they will work to your individual requirements and circumstances. This should include operating a collection and delivery schedule that suits you. For instance, you may require the service multiples a day or at very specific times throughout the week. The movement of cash presents a very attractive proposition for criminals, especially during the festive period in November and December. Cash in transit security guards are equipped to safely collect and deliver cash, while knowing exactly what to do should a robbery attempt take place. Attempting cash in transit yourself can put you and your employees in harm’s way and may result in a significant loss in business revenue should a robbery attempt succeed. Cash in transit guards deal with the process several times a day so will know what’s required to safely collect, deliver and deposit cash, resulting in your business and customers receiving money in a quick and effective manner. The responsibility of cash management won’t rely on you, so your effort and attention can be put elsewhere.
Even with a professional security team, there is always going to be a certain degree of risk when it comes to transporting cash from place to place. Robbers exist to seize money and valuable items from individuals or organisations by capitalising on weaknesses. Cash in transit robberies, in particular, are usually orchestrated by organised criminals. Cash in transit guards are equipped to deal with threatening situations, but it’s important to take every step necessary to manage risk. One important factor that security companies will consider is implementing a schedule that is hard to predict. Criminals will monitor the activity of a business’s cash in transit operations, so changing up the days, hours and locations can prevent them from gaining an upper hand.
Marked and heavily guarded vehicles can sometimes act as a deterrent, while unmarked vehicles may throw in the element of surprise and undetection. It’s not uncommon for marked police vehicles to follow cash in transit vans when they are out on patrol so as to provide an added layer of protection. Finally, it may also be a smart decision to change up the amount of cash that is collected in one go, instead spreading it out across several rotations.
We offer a flexible and secure cash in transit security service that safeguards the collection and delivery of cash. Our guards can operate throughout the country across a range of business premises, from car parks and licensed premises to shops and supermarkets. We will work to a regular schedule that is designed to what you specifically require.
To find out more about how we can help you with cash in transit, click the button below to request a quote. We will then be in touch to discuss your requirements in further detail so that we can present a solution that suits you best.