Cash-in-transit

G4S Cash Services CVIT VAN (UK)

Prosegur Armored car in Barcelona

Cash-in-transit (CIT) or cash/valuables-
in-transit (CVIT) is the physical transfer of
banknotes, coins, credit cards and items
of value from one location to another. The
locations include cash centers and bank
branches, ATM points, large retailers and
other premises holding large amounts of
cash such as ticket vending machines and
parking meters.

Many cash in transit companies are

private security companies that offer cash
handling as part of their services. Loomis
is currently the only major CIT business
that is fully dedicated to cash handling,
following its split from Securitas.[1][2]
Brinks spun off its home security division,
likewise placing its focus on cash
handling.[3]

By law, the CIT companies are seen as

logistics companies in the private security
industry and therefore have to comply with
transport and security legislation. In some
countries, the transportation of cash has
its own legislation (for example, Europe
has varying CIT laws[4]). The CIT industry
is regulated by national, regional and local
legislation, social regulations and current
practices. Responsible authorities are
usually the Ministry of the Interior, the
Ministry of Justice and the police.
Legislation and regulations may impose
requirements and restrictions on use of
firearms, types of vehicles, minimum
number of crew members, and use of
intelligent banknote neutralisation
systems.

CIT services can be carried out in soft-

skinned, semi-armoured or armoured
vehicles. The use of soft-skinned vehicles
is normally only allowed when alternative
security methods, such as intelligent
banknote neutralisation systems, are also
used. Security cases containing IBNS are
provided by companies as StrongPoint
Cash Security and Oberthür. Such CIT is
commonly referred to as "Light CIT".[5]

Services
Inside CIT, the companies are specialized
in the transportation and processing of
cash and valuables, precious metals. They
transport banknotes, coins, bulk cash,
diamonds, non-personalised smart cards,
non-personalised passports and other
valuables. That is why, in many countries,
the service was renamed "asset handling"
or "asset-in-transit".

Cash processing
Cash processing is an industrial process
far removed from traditional banking
activities and culture. The internal
organization of cash handling within banks
is often obsolete and inefficient, inherited
from old bank organizations and further
complicated by mergers, acquisitions and
restructuring. This has led the majority of
banks to opt for the outsourcing of
wholesale cash processing.[6]

There are on the other hand inherent

difficulties associated with outsourcing.
One of them is the loss of control and the
reliance on external providers. In some
cases, banks no longer have the know-how
in relation to cash handling.

Cash processing has evolved from a labor-

intensive activity focused on the
transportation of cash to a capital-
intensive industry offering end-to end
solutions. Transport no longer constitutes
the value added in the business but
continues to structure the organization.
The CIT's footprint remains a key factor of
selection by banks and retailers.

The industry is generally divided into two

sectors: Processing, and ATM servicing
Major players
Seven companies command nearly 60% of
the global CIT market (2010).[7] They are:

Brink's – 67%
SecureCash – 23%
G4S – 15%
Loomis – 12%
Prosegur – 7%
Garda – 4%
GSLS – 0.01%
Pivotal - 10%
Others – 39%
Few companies outside these 7 have
cross-border operations. This is in part
seen as a result of the significant cost to
establish a CIT operation.

CIT guards
Most armored cars have two to three
occupants:

A driver, who is normally never allowed

to leave the vehicle until it returns to the
garage
1–2 guards who deliver the cash or
valuables
Depending on the jurisdiction, the guards
are armed with weapons. Most guards are
issued with shotguns, while others carry
handguns. Submachine guns and even
assault rifles may be equipped by those
officers in some countries. These guards
are required to have firearms training
before they can carry them.

Six member states of the European Union

prohibit weapons during cash-in-transit
(CIT) operations.[8]

They are also required to wear bulletproof

vests[9] and/or ballistic helmets.
See also
Great Train Robbery (1963)

References
1. "Securitas Cash Handling Services
announces new international brand
identity "Loomis" " . Securitas Group.
Archived from the original on 3
February 2014. Retrieved
18 November 2013.
2. "Our Business" . Loomis AB. Archived
from the original on 2 February 2014.
Retrieved 18 Nov 2013.
3. "The Brink's Company to Spin-Off
Brink's Home Security to
 Shareholders" . PR Newswire.
Retrieved 18 Nov 2013.
4. "A comparative overview of the
legislations governing the Cash in
Transit private industry in the 15 EU
members" (PDF). Confederation of
European Security Services. Archived
from the original (PDF) on 2013-10-
30. Retrieved 18 Nov 2013.
5. "EU WHITE PAPER ON PROFESSIONAL
CROSS BORDER TRANSPORTATION
OF EURO CASH BY ROAD – EBF
WISHLIST" (PDF). European Banking
Federation. Retrieved 18 Nov 2013.
6. "Session IV: Cash Outsourcing and
Cash Recycling" (PDF). European
Security Transport Association.
Archived from the original (PDF) on 10
June 2015. Retrieved 18 Nov 2013.
7. "Cash Solutions" . G4S. Retrieved
18 Nov 2013.
8. A comparative overview of the
legislations governing the Cash in
Transit private industry in the 15 EU
members Archived 2009-01-05 at the
Wayback Machine (PDF). CoESS / UNI-
Europa joint Report. October 2004, p.
14.
 9. "Specific Requirements and Training
for a ARMOURED CAR GUARD" (PDF).
BC Ministry of Justice. June 2009.
Archived from the original (PDF) on
August 6, 2009.

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Last edited 22 days ago by Nicholas0

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