Keep cash safe and avoid getting mugged

With Christmas just a few weeks away, muggers needing money for their festive season shopping will be constantly on the hunt for easy prey. Make sure you don’t become one of their victims.

The South African Banking Risk Identification Centre has some tips on carrying cash safely and on ways to avoid being mugged.

Tips for individuals:

· Carry as little cash as possible.

· Pay your accounts electronically.

· Make use of cellphone and internet banking.

· Alternate the days and times you make cash deposits.

· Never make your bank visits public.

· Don’t display your money in bank queues.

· Avoid carrying money bags and openly displaying receipt books.

· Identify another branch that you can visit to ensure that your banking pattern is not recognisable.

· Consider a cash management service.

· Don’t pay wages out in public.

· Don’t use a company-branded vehicle to go to the bank.

· Use an electronic alternative way to pay out wages.

Tips for savings clubs or stokvels:

· Don’t make cash deposits on high-risk days.

· Let someone else accompany you to the bank when you make deposits.

· Let members deposit funds directly into the account

· Arrange electronic pay-out to accounts.

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