4 Ways for Retailers to Keep Money Safe - Barrington Security (2024)

Posted By Mark Barrington

Keeping your money safe is a priority for all business owners. Whether you’re a cashier for a large supermarket or you own a small shop on a quiet street corner, retailers arealwaysat risk of armed robbery. Thieves can strike at any time of the day or night, which means you’ve got to be ready for them. We’re not suggesting you load your store with traps, but we do suggest that you take the necessary precautions to protect yourself and keep your hard earned money safe.

Remember, thieves aren’t always dressed in a black disguise with an eye mask to match. Sometimes they’re dressed in the same uniform as you! That’s right, we’ve all heard stories of dishonest employees. Unfortunately, it happens.

Keeping your money safe is easier (and more affordable) than you think. Criminals are lazy. They want to get in and out with as much cash and valuables as possible, asfastas possible. The longer they spend robbing your store, the higher their chance is of getting caught.

So, if you want to keep money safe, here are a few of the best security products for the job:

1. Drawer Deposit Safes

Retail establishments are a gold mine to potential thieves. They know they’re likely to find cash on the premises, and they knowwhereto find it. It’s up to you to limit the visibility of money by using a drawer deposit safe. This safe allows you to deposit cash quick and easy without much fuss. Just open the drawer and place your pocket of cash inside. When you close the drawer, the cash drops into the main body of the safe.

TheCharvat Neutron Star Grade 2 Safe Drawer Deposit Safeseries is perfect for use in shops, restaurants, pubs and clubs because you can quickly deposit cash lodgements without having to open the actual safe. It’s also equipped with adjustable shelves and supplied with a twin key lock on the main door. This means the store has one key and the CIT Company (such as G4S or RMS) has the other key. It takes both keys to access the main safe for maximised security.

Keep money safe with a Charvat Safe Deposit Box

2. Money Tube Transfer Systems

The financial cost of a robbery can have a detrimental effect on a business. The experience alone can cause physical and psychological trauma, which is why it’s so important to introduce a security system on the premises. In addition to alarms and CCTV, a money safe is required to store cash and other valuables.

Money tube transfer systems are great for guaranteeing safe transit of money away from the area of greatest risk – the till or check-outs area. TheBarrington One Way Systemuses air tubes to transport cash in the retail business to a small cash safe. Transporting money discreetly and efficiently, these air tube systems are ideal money safes for department stores, shopping malls, supermarkets and cinemas etc.

Air Tube System linked to Charvat Safe

3. Under Counter Safes with Envelope or Deposit Facility

When you work at a retail store, you need access to a convenient cash safe box such as theChubb Counter Deposit Safe. Storing money under the counter enables you to keep your money safe at the vulnerable point, helping to reduce theft and “smash and grab” raids. Its position under the counter makes it easily accessible. It also includes two key locks for maximum security. One key is used to open the storage unit and the second key is to release it from the counter.

Chubb Safes Counter Unit for Retailers

Alternatively, you can go for a money deposit safe such as theThis range includes a variety of differently sized money safes. Whether you want a smaller model to keep your kid's money safe or a slightly larger one to use as a cash safe box, there’s something for everyone. A mini vault is ideal to prevent deposited items from being “fished” out, which makes them incredibly difficult to break into and they can hold up to £3,000 cash overnight or £30,000 worth of valuables.

Discover our selection of drop and deposit safes here.

4. Time Locks

A time lock safe offers an extra layer of protection for your retail cash. Time locks use a locking mechanism that has a predetermined time set in place whereby you can reopen it again. In other words, once you’ve locked it, you won’t be able to unlock it at any other time other than the one you’ve previously set. This means that thieves are faced with an impossible mission.

The electronicKaba 525 Safe Lockis easy-to-use and embodies state-of-the-art microelectronics. You can program the safe via the keypad and a computer, which means you can modify additional settings easily if required. This safe offers the highest safe cash rating and includes features such as a normal time delay, duress time delay, automatic DLST, code group lockout and wrong try lockout after four false codes.

Kaba 525 Safe Lock

Our safes come with a warranty, and we also offer a 100% price match guarantee plus free shipping in Ireland and the UK. If you own a business or retail establishment, it’s up toyouto take the necessary steps to keep your money safe. If cash is starting to build up and you’ve no idea where to put it, it’s time to get a money safe in place!

If you need us to talk you through the different money safe solutions in more detail, just call us on 0800 389 6066 or e-mail us toinfo@barringtonsecurity.co.uk

4 Ways for Retailers to Keep Money Safe  - Barrington Security (2024)

FAQs

4 Ways for Retailers to Keep Money Safe - Barrington Security? ›

Limit the visibility of the cash on the premises as much as possible (never count large amounts of money in front of customers or even employees unless necessary). Transfer as much money as you can into a bank account rather than have it kept on your business premises. Install a safe and limit access to it.

How do you keep cash safe in a business? ›

Limit the visibility of the cash on the premises as much as possible (never count large amounts of money in front of customers or even employees unless necessary). Transfer as much money as you can into a bank account rather than have it kept on your business premises. Install a safe and limit access to it.

What is the best way to store money in a safe? ›

Even within a gun safe, many individuals who store cash will opt to place it in a waterproof container. SureSeal boxes offer a completely sealed container that is both water-proof and smoke-proof.

What are two ways banks keep your money safe? ›

Both SIPC and FDIC insurance protect your assets in the event of a failure at member institutions. The biggest difference is that FDIC coverage protects your bank deposits and assets, while SIPC coverage protects your securities with a brokerage firm.

How do businesses protect cash? ›

Business credit cards, lines of credit, fraud prevention and comprehensive treasury management solutions are key examples of banking tools you can use to enhance and protect your cash flow.

What are 5 common security measures which must be adhered to when dealing with cash? ›

Cash handling
  • ensuring the point of sale worker is visible from the outside of the workplace.
  • displaying signs where they can be clearly seen informing customers of 'no cash kept on premises' or limited cash holdings.
  • encouraging cashless purchasing.
  • making cash less visible or less accessible.

How can we keep our money safe? ›

Don't keep large amounts of cash; Put them safe in the bank. If you keep money around in your home ensure it's out of the way of casual visitors. Talk to others, if something feels wrong. Don't be scared to ask questions.

How to properly store money? ›

Keep any paper cash, currency, and valuable paper records locked in a quality, humidity-controlled, fire-resistant safe. If you have valuables such as paper cash or other important/sensitive documents, you absolutely need to invest in a quality safe with UL-rated security and certified fire protection.

What is the most secure place to keep money? ›

Here are some low-risk options.
  • Checking accounts. If you put your savings in a checking account, you'll be able to get to it easily. ...
  • Savings accounts. ...
  • Money market accounts. ...
  • Certificates of deposit. ...
  • Fixed rate annuities. ...
  • Series I and EE savings bonds. ...
  • Treasury securities. ...
  • Municipal bonds.
Oct 18, 2023

How do you keep money safe not in the bank? ›

If you want to store cash at home, you might consider keeping it with copies of your important paper documents in a waterproof, fireproof safe.

What is the most secure way to bank? ›

Tips for safe online banking

Keep your computer up-to-date with antivirus software, operating system patches, firewalls etc and ensure your browser is set to the highest level of security.

How do banks safeguard money? ›

The Federal Deposit Insurance Corporation (FDIC) is a federal agency that protects bank depositors against insured deposit losses when FDIC-insured banks close. The FDIC insures up to $250,000 per depositor per FDIC-insured bank.

How do you protect large amounts of cash? ›

Individual Account Owners have several options to protect deposit balances:
  1. Open Accounts at Multiple Banks. ...
  2. Open Accounts with Different Owners. ...
  3. Open Accounts with Trust/POD [pay-on-death] Designations. ...
  4. Open a CD Account, or Money Market Account, with a bank that offers IntraFi (formerly CDARs) services.
Mar 17, 2023

How do I protect myself when paying cash? ›

Protect yourself with proof of payment

If you pay a bill in cash, ask the party receiving payment to record it in their records and give you a sales receipt. The receipt should show your name, a short description of the product or service purchased, the transaction date, and the amount paid.

How is cash kept in the business? ›

Companies most often keep their cash in commercial bank accounts or in low-risk money market funds. These items will show up on a firm's balance sheet as 'cash and cash equivalents'. The company may also keep a small amount of cash––called petty cash–– in its office for smaller office-related expenses or per diems.

How do you manage cash in business? ›

Here are some best practices in managing cash flow:
  1. Monitor your cash flow closely. ...
  2. Make projections frequently. ...
  3. Identify issues early. ...
  4. Understand basic accounting. ...
  5. Have an emergency backup plan. ...
  6. Grow carefully. ...
  7. Invoice quickly. ...
  8. Use technology wisely and effectively.

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