Tell me about the armored truck/cash-in-transit industry

The Something Awful Forums > Discussion > Ask/Tell > Tell me about the armored truck/cash-in-transit industry

adorai: Nov 2, 2002; 10/27/04 Never forget; Grimey Drawer

The driver doesn't count, he takes a sealed bag which is counted elsewhere. And it's not like it's counted by hand, there are machines that count it extremely fast. Cash logistics relies heavily on trust: each party trusts that the other is representing themselves accurately in person. Counting is primarily to avoid mistakes, not fraud. Almost all large currency transactions are going to be under dual control by both parties.

As for the guard, if you think the loving driver of an armored truck is willing to lay down his life for some rich dudes cash, you are extremely naive. His primary job is to avoid any confrontation, which is mostly just being aware of his surroundings and being able to spot any monkey business before it has the chance to escalate.

# ¿ Nov 25, 2014 04:58

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# ¿ Apr 28, 2024 10:02

adorai: Nov 2, 2002; 10/27/04 Never forget; Grimey Drawer

Nog posted:

Do folks just receive receipts for sealed bags and trust that the count will be done accurately on the tail end?

Like I said, it's all under dual control, and under electronic surveillance. If there is a discrepancy, you can have a high level of confidence that it was not the cash logistics company stealing the money.

# ¿ Nov 26, 2014 02:49

adorai: Nov 2, 2002; 10/27/04 Never forget; Grimey Drawer

Nog posted:

If CIT isn't profitable on its own, and cash management (I'm assuming) is where the money, then how do small CIT operations survive considering that you just said your company got its cash from one of the larger operations? Did you rent out time-lock vaults and such?

Like any logistics operation, you can improve your profitability by improving your logistics. It's not like they go from the HQ to load an ATM and then back, they load ATM 1, load ATM 2, pickup from convenience store 1 and load the onsite ATM 3 while they are there, etc.. Furthermore, there are a lot of opportunities for a smaller operation to be subcontracted by a larger outfit who may not find it profitable to service 1 branch of a national bank chain in Podunk town A but can farm it out to a smaller guy who already services a few ATMs and convenience stores locally.

# ¿ Nov 30, 2014 23:38

The Something Awful Forums > Discussion > Ask/Tell > Tell me about the armored truck/cash-in-transit industry