WITH the end of the year near, banks are once again raising an alert for Stokvel customers to be extra vigilant when they withdraw their investments to purchase groceries and other goods for the festive season.
Each year criminals pounce on unsuspecting members of the savings scheme who leave the bank with large sums of cash.
‘Be smart by taking some precautions to ensure that you protect your hard-earned savings,’ said Standard Bank customer financial solutions Senior Manager, Riaan Appelgrein.
‘Encourage members to rather receive their money directly into their bank accounts.
‘Their local branch can arrange for payments to be made directly to individual members’ accounts.
‘All they need to do is provide the branch with a list of payments to be made and the bank details of the members, and the bank will do the rest.’
Appelgrein added that direct payments can be made to retailers by providing retailers’ banking details with a suitable reference and banks can provide customers with bank guaranteed cheques for a specific beneficiary.
‘Do not advertise your plans to visit the bank.
‘Information about where and when you are going to your bank will allow criminals to properly plan their operations.
‘Make sure you are not followed when you do go to or leave the bank. Be aware of suspicious looking people around you when you are in the bank.’
Appelgrein further advised to avoid visiting the bank on ‘high-risk days’, which are Mondays, Fridays or just after month end.
‘You can also stagger withdrawals into smaller amounts over different days. In this way you will not lose all your cash at once should you be the victim of a crime.
‘Although it is a time of celebration and joy, the festive season is high risk in terms of criminal activity.
‘If you feel that you may need extra help finding safer and more convenient alternatives to drawing your cash, do not hesitate to talk to your local bank manager. They are there to help you.’
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