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In many different industries, it is necessary to transport cash from one location to another and also to the bank. Cash in transit activities can include relocating paper currency and coins, as well as jewels, securities, and other financial means. The purpose of this article is to highlight the procedures involved in cash transit, including the use of cash in transit bags, to help businesses keep their money protected from criminal activity.
The cash in transit process begins with proper training of all employees that are involved in a business’ cash flow. Staff members should be informed about the risks and precautions to take when handling large sums of cash, as well as what to do in case of an emergency.
Use of Cash in Transit Bags
Specialized cash in transit bags are designed with tamper-evident construction to protect the integrity of the contents. They also have lines to write pertinent information on the front in order to establish chain of custody and eliminate the risk of human error.
It is important to not be overly predictable with your cash in transit activities so that potential robbers cannot follow your established routine as easily. Choose different routes, days of the week, times of day, and individual employees to perform these duties to avoid a risky level of consistency.
But unless your bank is just a few steps away, most organizations choose armored trucks to mobilize large sums of cash. Brinks is a familiar and trusted name in armored transportation, and this company has developed secure logistics, communications systems, and auditing procedures to gain this reputation. Other armored truck companies include Loomis, Garda, and Dunbar.
Armored trucks are able to drive on flat, deflated tires in case someone tries to shoot the tires and stop the truck. They are very heavy and can actually weigh as much as a humpback whale when fully loaded! Thousands of companies use these trucks to safely move cash in transit bags from one location to another.
Private security companies that specialize in cash in transit activities need to receive detailed information about the cash, checks, and coins they are carrying so that it can be entered into their system and be accounted for at all times. These trucks can carry sums of money from various sources, so drivers must keep accurate records to deliver the relevant money to the right locations.
Drivers must fill out logs and reports of pick-ups and drop-offs, as well as make notes about suspicious activity. They will call for back-up as needed and plan their routes to deter robberies. The daily routine of an armored truck driver may also include pre-searching buildings before releasing money, carrying a gun for protection, and keeping innocent bystanders out of harm’s way.
For most cash in transit operations, the end destination in the bank. Every day, armored trucks deliver cash and valuables to banks, deposit boxes, ATMs, and stores.
Bank employees can schedule cash deliveries in advance, but how much money can be delivered in a single day depends on the size of the bank. For insurance and security purposes, banks branches can only hold a certain amount of money at a time. From there, it is the responsibility of bank employees to document the receipt of the cash in transit bags, credit the appropriate account, and store the cash away for safekeeping.
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