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Cash handling


How to Guard Business Profits by Minimising Risk

If your business handles cash on the premises it is extremely attractive to criminals and opportunist thieves.
From the increasing number of incidents you should be aware of all the risks to your business and your employees when handling money.
Once you recognise the particular risks your business faces means that any action you take will be more effective and therefore more secure.
At BiB our aim is to help you manage and reduce your exposure to risk, specifically when it comes to the cash handling arrangements for your business, helping you to minimise the risk you face from the effect of criminal activity.

So how can we reduce your exposure to this risk?

Unfortunately, it’s a common feature that many businesses often overlook the need for cash handling planning to their cost. Effective cash handling risk management looks at every possible impact on your business, and knowing the particular risks your business faces means that any action you take will be more effective and therefore more secure. In fact, there are a number of factors which will affect the security measures you adopt; trading hours, location, levels of cash used, banking frequency, types of staff used, and the type of procedures you follow.
Whatever your business, a well-planned review and assessment of your cash handling programme is a proven and effective method designed to protect your valuable investment.
To give you some guidance on cash handling risk management, we have put together an outline below of the main areas you should take into consideration in order to reduce your exposure to risk.

What you should consider

We would recommend that you carry out a thorough examination of both your premises and operations, closely evaluating any areas which may leave you exposed to significant risk. This will highlight any areas which could cause problems to you and your staff, enabling you to:

  • Identify the areas in most need of attention.

  • Evaluate the scale of risk.

  • Ensure that you have adequate arrangements in place.


Some important areas you need to consider when assessing your exposure to risk:
  • What are the maximum levels of cash or negotiables handled?
  • Is cash received or paid at locations off-premises?

  • Does the design of the premises, alarm and cash containers reflect levels of cash handled?

  • Is cash regularly moved to secure storage during business hours?

  • What is the frequency and pattern of banking?

  • What is the banking method?

  • Is cash accompanied by sufficient and appropriate personnel?

  • Are significant levels of cash held overnight?

  • Is the design and installation of the safe suitable for the level of cash held?

  • Are safe keys always held personally by people of complete trust?

This is a brief overview of some of the issues that could affect your business to a greater or lesser degree, depending on how you manage them. We can help you examine these areas in a well-planned and detailed manner, identify your level of exposure to risk and develop an organised, cost-effective risk management plan.
All of which gives you greater control of your business performance, profitability and success.

What should I do now?

If you would like to find out more about managing the risks associated with cash handling, then please call us on 01325 353888 and we will be happy to discuss this important issue with you in greater detail. Alternatively please email us on: webenq@bibinsurance.co.uk