Carrying Cash Safely

Syndicates place 'spotters' in the vicinity of branches to look out for clients making large cash withdrawals or deposits. These 'spotters' then inform other syndicate members who then plan the robbery or rob clients as they leave the bank. It normally happens at a victim's place of work, home or in traffic.

• Avoid carrying large sums of cash.
• Pay your accounts electronically. It is more convenient and safer. Make use of cellphone banking, internet payments or ATMs to do your banking.
• Swipe your card when making payments instead of using cash. 

Businesses that are cash-based and need to make large deposits or cash withdrawals should consider the following:

• Alternate the days, times and routes taken to the bank when making deposits or large withdrawals.
• Use another branch in the area, as this will allow you to alter your banking pattern further.
• Avoid driving to the bank in a company-branded vehicle.
• Be aware of your surroundings – if you believe you are being followed, immediately report it to the police.
• Don't tell people (even close associates) that you are going to withdraw or deposit money at the bank.
• Do not carry cash in bank bags, briefcases or deposit books, as this will make it obvious that you are carrying cash.
• Make payments to beneficiaries through electronic transfers. It is a lot safer than paying cash.
• Avoid making withdrawals on high-risk days such as the first Monday, Friday or Saturday of a month or just before the end of the month.
• Avoid paying casual and contract workers in public. Rather consider using wage accounts.
• Consider making use of a cash management service rather than doing your own banking.

Nedbank offers businesses a variety of options for safe and secure banking, such as NetBank business, Pocket POS™, Nedbank Payroll and cash-handling solutions. Contact your banker who will gladly assist you with a tailored solution for your business.

• Don't make large cash withdrawals or deposits on your own. Ask someone or a security company to accompany you.
• Don't make cash deposits of club members' contributions on high-risk days, such as the Monday after the end of the month.
• Let members make contributions directly into the club account.
• Do club payouts electronically into each club member's own account.
• Do not allow anyone to distract you and avoid social conversations with strangers while you are carrying large amounts of cash.
• Do not openly display money in banking halls and don't tell anyone when deposits and withdrawals will take place.
• Use the digital channels provided by Nedbank to make electronic payments and avoid the risk of a robbery.
• Contact your banker who will gladly assist you with a tailored solution for your stokvel.