Show Me The Money: Three Tips For Securely Sending And Receiving Cash

Posted on: 26 October 2016

As a business owner, you know that one of the most important components of running a successful business is to keep an appropriate amount of cash on hand. If you keep too much cash on site, you open the door to unscrupulous robbers. If you keep too little cash on hand, you cannot meet the needs of your customers. Finding the perfect balance is key; many business owners have to order and ship cash to achieve this ideal balance. Follow these tips for securely sending and receiving cash.

1. Use the Services of an Armed Courier

Though you can always go to the bank to withdraw cash for your business, it is much more secure to utilize the services of an armed car service. Armed couriers are trained to deliver and pick up valuable items, including cash. They have the necessary equipment to safely transport cash and the proper training to deal with a robbery attempt.

2. Accept and Prepare Shipments with Two Employees Present

In addition to external threats, you need to safeguard your cash from threats within the company as well. When you receive or prepare a cash shipment, make sure that there are always two employees present. Though it is fine to use one employee consistently, the other employee spot should rotate. By doing so, you minimize the chance that two employees can collaborate to cover up theft or fraud.

Make sure you keep written records concerning who is preparing and shipping the cash. Have both employees sign off that they have completed the shipment, including pertinent details such as the amount of the shipment, cash denominations, and the date.

3. Count All Cash Immediately Upon Receiving It

If your cash is delivered during one of your busiest times of the day, it's easy to just stick it in the vault and leave it there until you aren't as busy. However, it is important to count the cash as soon as possible once you get it. Companies that package cash are not perfect; even when using a money counter, it is possible for bills to stick together or for one to fall out.

By verifying the cash, you can immediately remedy any issues regarding the shipment. For example, even if the total amount is correct, you may have requested to receive a certain amount of dollar bills. If the cash company disregards this request, you don't have the change that you need to properly run your business.

Any time you are dealing with cash, it is better to be safe, rather than sorry. Stick with these guidelines when preparing and accepting cash shipments.

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