Understanding Cash in Transit Cost and Important Security Aspects

cost of cash in transit

CIT (cash-in-transit) is the process of transferring hard currency, coins, or other valuables like credit cards from one location to another. CIT services usually cover bank branch transfers, ATM points, currency chests, large retailers etc. holding large amounts of physical cash.

Many security service providers are offering reliable cash in transit services in Australia. The licensed cash in transit firms in Brisbane are considered as a logistics service provider in the security industry and functions being compliant to transport as well as security legislation of the states.

There are specific regulations for CIT service as to the:

  • Type of vehicles to be used
  • Usage of firearms
  • Deployment of crew members, and
  • Protocols for handling banknote and neutralisation etc.

Precautions in money transfer

Usually, the vehicles are armoured and if not, then usually an unmarked vehicle is chartered for CIT. The security guards in unmarked vehicles may be or may not be armed. As a part of security measures, CIT transportations are designed to vary in routes, pick-up and delivery timings etc.

The following procedures are usually followed while carrying out CIT.

• Set procedures in terms of an accident or breakdown of CIT vehicle.
• Policies to monitor and eradicated the build-up of cash.
Security measures during pre-hold-up, hold-up and post-hold-up procedures.
• Regular inspection and maintenance of the CIT vehicles and safety equipment.
• Processes in place to address stress or fatigue of a crew member or other medical emergencies.

The specification of cash in transit cost may vary based on the needs of the users, vehicles used, and other procedures involved. There are services to fit any budget, but one shouldn’t compromise on the key aspects of security and reputation against the cost involved.

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Seeking services of a CIT provider

Not just for banks and high cash flow destinations, but CIT services can be helpful to businesses too who want to transit their cash to banks securely. For frequent needs, it is best to identify the most reliable service company and use it regularly to handle your business needs in a personalised way. Always ensure that the company you hire is licensed and bonded and also that it has a good industrial reputation.

There are plenty of service providers, and not all of them are the same. Your requirement may not always be large or frequent as a bank, so seek for a reliable service, which can offer a customized quote based on your needs and has experienced working with clients of your size and needs.

Do research online

It is ideal to pay a visit to the website of the CIT service companies which approach you. Go to the review and testimonials sections and see if you can find any relevant information there about the service quality and acceptance of the CIT service in question.

Ensure that you approach a company which can protect your assets at best. After evaluating a few in consideration online, you can personally visit those whom you are shortlisting to have a discussion directly with the decision makers to evaluate their experience and see how efficiently they manage the process.