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FAQs - Most asked questions

Although the market is seeing an upward trend in the adoption of automated cash management solutions, it is still sad that thousands of business owners still opt for the DIY approach to cash handling. 

ABOUT CASH IN CIRCULATION AND A METHOD OF PAYMENT

  • Contrary to many predictions, the days of physical cash are not numbered. The number of bank notes will increase by about five percent annually between 2016 and 2026. 
  • In addition, 84% of global transactions are still made with cash (Source: Mastercard & ATMIA).
  • According to Arjan Schutte of Forbes, at the current rate, cash will be a major form of payment for the next 200 years.
  • According to the SA Reserve Bank, cash in circulation in 2016 reached the R130 Billion mark, up from R119 Billion in 2014.
  • Cash is therefore here to stay and its need to be safeguarded will remain a priority.

SOUTH AFRICA’S NATIONAL CRIME STATISTICS FOR THE 2015/2016 PERIOD SHOW THAT CRIME AGAINST OUR BUSINESS SECTOR IS STILL ON THE RISE.

Organised crime has a direct impact on our Retail Industry and our economy. As socio-economic factors continue to deteriorate, cash-related crime will continue to increase. It’s therefore vital that business owners educate themselves on how to reduce their risk of an armed robbery, dramatically improve efficiencies and reduce the cost of cash.

  • Robbery against businesses for the 2015/2016 financial year shows that there were 19, 698 while for the 2014/15 financial year there were 19,170 robberies. This is an increase of 2.8% with the highest reported cases in Gauteng, KwaZulu-Natal and the Eastern Cape.
  • There has been a 349% increase in business robberies in South Africa over the last 11 years.
  • According to Richard Phillips, joint CEO of Cash Connect Management Solution, cash in our retail sector continues to be a primary target of organised crime.
  • With this in mind, the Consumer Goods Council of SA recorded more than 1000 armed robbery attacks against their retail members between March 2015 and February 2016, and over 400 burglaries in the same period, which is an increase of 62%. The organisation now stresses the importance of protecting the retail environment since it accounts for 18% of our Gross Domestic Product.
  • While bank robberies have decreased by 64%, with only 6 cases reported across the country, Cash in Transit robberies have once again increased by some 15%.  “Organised crime remains very active in the cash economy. We believe that there has been at least a 35% increase in attacks against retail cash deposit machines and a marked increase in the use of explosives,” adds Phillips.

The cash value is guaranteed once deposited into the cash vault. Valid claims for any loss after being deposited is settled in accordance with your service choice of same day, next day or two day. Our clients are not exposed to settlement delays for valid claims arising from either insurance or investigative processes.

The cash value is guaranteed once deposited into the cash vault. Valid claims for any loss after being deposited is settled in accordance with your service choice of same day, next day or two day. Our clients are not exposed to settlement delays for valid claims arising from either insurance or investigative processes.

Depending on the volumes of cash deposited, service cost savings of up to 45% on traditional manual cash management costs are readily achievable.

Manually counted cash receipts are prone to shortages with national averages of between 0.1% and 0.15% (depending on the size and type of business), being reported in many developed economies. Cash Connect’s operating model provides for the teller to deposit cash from the till directly into the cash vault thus eliminating third party involvement. What the device counts is the actual value deposited.

It is common knowledge that over 90% of attacks are committed with some form of insider participation. When a store is properly hardened, these same ‘insiders’ “broadcast” that message, drastically reducing the risk of attack and deflecting the criminals to softer targets where cash is easily available.

Yes, from the instant cash is deposited in the vault, we take all the risk.

Non categorised, light weight devices often referred to as ‘safes’ or no protection at all will leave you exposed to the threat of an armed robbery.

We have the best risk profile in the industry.
Cash Connect sites indicate that you are 40 times less likely to be attacked. Our guarantee is INSTANT, from the moment cash is deposited in the vault. We will likely save you time and money and "We take the Risk".

Our Call Centre resolves over 55% of problems on the phone. Unresolved issues are logged, tracked and escalated to one of over 100 qualified technicians from within our national network of support personnel who will respond to your site within the time frame we have contractually committed to.

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T | +27 11 010 4300
E | info@cashconnect.co.za
CC | 0861 MY RAND (69 7263)

Jhb Head Office:
Innesfree View | 4 Harris Road (Cnr Katherine & Harris) | Sandown Ext 20 | Sandton | 2196 | South Africa

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