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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 ...
After paying at cash registers of retail or gas stations, vending machines (e.g., cigarettes, tickets, drinks) or depositing in ATMs the cash is returned to the financial institutions. In most cases, CiT companies pick up the cash receipts by armored cars and refill the cash dispensers or store it in bank vaults.
An intelligent banknote neutralisation system (IBNS) is a security system, that is used by banks, ATMs, retail establishments, vending machines [citation needed] and the cash-in-transit industry, to render stolen funds un-useable and easily identifable. Dye packs are inserted between bills in random bundles.
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Cash-in-transit, the physical transfer of banknotes, coins, credit cards and items of value; Cit (consciousness), Sanskrit for consciousness or awareness; alternately spelled chit; citation; Closed inflatable trampoline; CollegeInsider.com Postseason Tournament, in basketball; Corporate Income Tax; Counselor-in-Training, at a summer camp
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