The South African Banking Risk Information Centre Warns to Carry Cash Safely

Posted on by Staff Writer | 261 Views | 4 min read

  • 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
  • Alternate the days and times on which you deposit cash
  • 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.
  • 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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