Most every business must deal with cash transit procedures either daily or multiple times per week. Cash in transit procedures refers to the plan in place for the transportation, either by foot or vehicle, of your businesses assets generally from your business to the bank, or from one location to another. This can include transporting cash, coins, checks, jewels or anything of value. This may be done by employees, or it may be done by a securities company, such as an armored car service. Below we will outline some key procedures to follow to ensure that your cash in transit is handled properly and safely.
Cash In Transit Bags
The first step to proper cash transit procedures is to make sure that any staff involved in cash handling is properly trained on how to secure and prepare the valuables for transit, as well as, what to do in case of a robbery or emergency. Your staff should be securing valuables for transport in tamper-evident cash bags, that are properly sealed, with all information on the deposit bag filled out to help establish the chain of custody and eliminate paperwork errors. Using a bag with tamper-evident seals will quickly show if any of the contents of the bag are tampered with in any way.
Deter Potential Robbers
Another important measure to be taken in cash transit is to not be predictable, as to not make it easy for potential robbers to know your routines. You should vary your pick-up or drop-off times, routes you or your securities companies take to and from your location and the bank, and if possible, vary the days of the week you transport money. You may want to change up employees that do the transporting also, or the drivers for the armored car service that come. Most robberies are planned out ahead of time, so if you can keep potential robbers from knowing when your cash will be transported, you are already one step ahead.
If using an armored car service, it is very important for the armored car service employee that picks up your money to make sure they fill out detailed logs recording pick-up time, amount of the pick-up and sign off on this to ensure that you have a proper chain of custody. They also should have their own internal logs to make sure the money they pick up from your business is logged in, and then out once it safely reaches the bank. Accurate records are extremely important so that there is a way to trace the money once it leaves your place of business. Your bank records should be able to be matched up against your records at your place of business, so that you can ensure your money made it to the bank without any problem. It is imperative for staff and employees to follow handling rules provided by their respective companies to ensure employee safety and successful transportation of valuables.