Cash robberies

Carrying large sums of cash on you increases your risks of becoming a victim of a cash robbery. So whether you're an individual, a business, a savings club or a stokvel, we have tips to help you carry cash safely.

How do cash robberies normally take place?

Syndicates place 'spotters' in the vicinity of branches that look out for clients making large cash withdrawals or deposits. These 'spotters' then pass this information on to other syndicate members who then are able to plan the cash robbery or rob a client leaving the bank with a large sum of money. These robberies normally take place at the victim's place of work, home or en-route to wherever they are going.

Prevention tips for individuals

• Pay your accounts electronically, it's convenient and safer. Make use of cell phone banking, internet payments or ATMs to do your banking; and

• Swipe your card when making payments instead of using cash.

What alternatives are there to carrying cash?

Nedbank offers a variety of digital banking channels for individuals, including internet and cell phone banking.

Prevention tips for businesses:

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 observant of your surroundings – if you believe you are being followed, immediately report this to the police;

• Avoid informing people (even close associates) that you are going to draw or deposit money at a bank;

• Do not carry cash in bank bags, briefcases or deposit books, as this will make it obvious that you are carrying cash;

• Arrange for payments to beneficiaries through electronic transfers which is a lot safer than making cash withdrawals;

• 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 full view of the public and rather consider making use of wage accounts; and

• Consider making use of a cash management service rather than doing your own banking. 

What alternatives are there to carrying cash?

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

Prevention tips for stokvels:

• Don't make large cash withdrawals or deposits on your own; arrange for 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;

• Arrange for members to make contributions directly into the club account;

• Arrange for club pay-outs to be done electronically into each club member's account of their choice;

• 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 do not notify anyone of when deposits and withdrawals will take place and

• By making use of the digital channels provided by Nedbank you can make electronic payments and avoid the risk of a robbery. Contact your banker, who will gladly assist you with a tailored solution.