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We'd just walk across the street and drop cash into the bank deposit slot. What armed guards? Obviously things can change for large businesses. Even employee
by bbarnett 6y ago
We'd just walk across the street and drop cash into the bank deposit slot. What armed guards?
Obviously things can change for large businesses. Even employee theft is less of a concern, when (like the restaurants highlighted here), it's mostly a mom and pop type concern...
- sokoloff 6y agoI would worry about the safety of the employee doing the bank run. You close your pizza joint at midnight and what do you do with day’s cash? Leave it in the restaurant overnight and deposit it in daylight the next day, or send an employee to the bank drop box at 12:30 in the morning? Even 33 years ago, I got more training and policy drilling on how to do the bank drop than I did on sales to work my Electronics Boutique mall job.
- bbarnett 6y agoI guess it depends upon the crime rate in the local area. Realistically, at the time, I'd be carrying between $500 to $1000 in my pocket, cash, from delivery payments. And usually -- from 11am to 2am, it was very slow. Generally one person in the pizza place, in a strip mall, with every other business closed. It would be just as easy to walk in, and demand the cash then.
- Arnt 6y agoYes, the crime rate. The bank has trained people to check the cash being paid in, has a vault in each branch office, and trucks+staff for transporting cash between branches, and insurance premiums on losses during storage and transport. The insurance agency's premiums will depend on the typical losses and on how much money the bank spends on checking and guarding the money, and all of those will tend to vary with the crime rate. If there are more forgeries around, the banks need to either spend more on detecting them, spend more on insurance against losses relating to forged money, or encourage customers to use electronic transfers.