Cash-in-transit

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, bureaux de change, 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, following its split from Securitas,^[1][2] and Shields Business Solutions, a private equity backed company,^[3] are the only major CIT businesses fully dedicated to cash handling. Brinks spun off its home security division, likewise placing its focus on cash handling.^[4]

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^[5]). 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".^[6]