5 Ways Retailers Can Keep Cash Takings Safe

Guardforce Post

22
Jan
5 Ways Retailers Can Keep Cash Takings Safe

5 Ways Retailers Can Keep Cash Takings Safe

Payments made by credit and debit cards have been around for a long time, but even with the more recent developments in FinTech (Financial Technology), such as virtual currencies, near-field communication (NFC) and stored-value cards, cash remains the main medium for transactions in the retail industry (at least for the time being).

Keeping cash takings safe is essential, so in this article we will give you 5 ways to keep your cash secure.

 

Empty the till routinely

If your business operates tills, you should have a schedule to routinely empty the tills throughout the day (especially of high-value notes) preferably together with a printed report showing a record of the amount lifted, the date and time. Put any excess cash in a safe before it is ready to be deposited at the bank.

 

Use a good quality safe

Always keep cash in a good quality safe that meets high security specifications (preferably complying with UL/European standards) before it is ready to be banked. Keep the combination or code known only to authorised personnel and change it regularly. Fire-resistant safes are also available which can offer additional protection from fire.

 

Install a cash deposit machine

Guardforce Hong kong supplies automated smart cash deposit machines which provide all functions related to cash management, including speed counting (at approximately 600 notes per minute) and counterfeit note detection. With an effective anti-theft design and auto-sealing bags for cash storage, these machines also serve as a safe for cash after it is deposited. Once cash is deposited, the information is uploaded to the cloud and can be accessed anytime, anywhere via PC or a mobile device allowing real-time cash management and transaction monitoring. All these functions help alleviate staff workload and minimise both their and your business’s exposure to risks.

 

Use a reliable door-to-door cash collection and delivery service

If your business is cash intensive and the daily takings are significant, you may consider using a secure door-to-door cash collection and delivery service. These cash transportation services, such as those provided by Guardforce Hong Kong, ensure that your cash safely makes it to where it’s supposed to go. To really enhance efficiency and reduce both the staff and company risks in relation to handling cash, Guardforce Hong Kong also provides a full end-to-end solution, from collecting cash, verifying, counting, all the way to depositing it into a specified bank account. This is sometimes referred to as a whole cash management service in Hong Kong.

 

Install CCTV in sensitive areas

You may also consider installing a CCTV surveillance system to monitor sensitive areas, such as at cash registers, around the safe, at entrances, etc. As well as serving as an effective deterrent, the images gathered can be used for investigation or evidence should any incident occur.

By following these steps and working with a reputable security services provider, such as Guardforce Hong Kong, you will be well on your way to protecting your cash takings.

 

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