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German conveyor belt in the 1970s
Germans prefer to pay with bills and coins rather than to make transactions with electronic means since many years.
German cash-in-transit van from the 60's
The expansion of the cash and valuables transport business, as well as the transport of works of art, began in earnest in the mid-1960s.
For many decades, small family-run cash-in-transit companies existed in all German states.
Numerous preparers offered all kinds of vehicles.
Van from the company SWORD SECURE
For example, this VW T5 van with three axles.
or trucks.
or even high vans for conveyors.
The introduction of the EURO, at the turn of the year 2001/2002, will have an impact on the transport of cash. Indeed, more than 2.3 billion banknotes worth 132 billion euros, as well as 15.5 billion euro coins worth 4.3 billion euros will be delivered to the central banks of the Deutsche Bundesbank, which will supply banks, their branches, as well as shops and department stores.
In return, more than 2.6 billion bankbills and more than 46.7 billion Deutschemark coins had to be brought back to the Deutsche Bundesbank for destruction.
Van of the MONEY CARGO Compan
In order to carry out this task over a period of several months, more than 82,100 cash-in-transit operations were carried out throughout Germany.
HEROS van and armored car
The German cash-in-transit companies had to temporarily recruit 1,000 employees in order to cope with the increased number of attacks on cash vans on the road.
Armored car from KÖTTER Security
The turnover of this change of currency in Germany for private cash-in-transit companies over 6 months was estimated at 50 million Euros...
This increase in activity, which implies an overcapacity of means after this currency conversion, has led to a price war in the money transport business. The market becoming hyper competitive will lead to a collapse of sales, as it happened for the cash in transit market in several European countries including FRANCE or Netherlands
Truck of the DEUTSCHE BANK
This crisis was also increased by the additional services "OFFERED" by the Deutsche Bundesbank for the distribution in the big banks and the increase of the filling of the ATMs with cash from bank branches instead of central bank bills as before.
HEROS company van
The Hamburg-based company HEROS, with 23 branches and more than 4,000 employees, was a big winner in these markets: it accounted for more than 50% of the German cash transport.
Truck of the HEROS company
In 2006, however, a scandal broke out: HEROS executives embezzled more than 300 million euros, both for private purposes and to keep the company afloat. They had created a pyramid system to compensate the funds of each of its clients when they asked for them. This led to the bankruptcy of this money transporter...
Van of the company SECURITAS Germany
This HEROS company had bought the SECURITAS Germany company with 1.600 employees a short time before... At that time, in order to be the leader on this market, it had broken the hourly price of a cash courier by proposing him at 48 euros per hour against 66 euros on average with its competitors.
PRODIAC's Armored van
Subsequently, cash-in-transit companies have shared these subsidiaries during takeovers.
IVECO Armored Daily of the company ZIEMANN
One of these companies, ZIEMANN, founded in 1956 and employing 2,500 people at 25 locations, took over most of HEROS' customers.
It is now the second largest cash-in-transit and payment service provider in Germany.
Two Armored VW T5 from ZIEMANN
The company offers a wide range of vehicles, from vans to trucks,
MERCEDES Actros of the company ZIEMANN
to the Armored truck of transport of funds.
Armored VW T5 from KÖTTER Security
The other German company that also took customers of the former HEROS is KÖTTER Security.
Armored VW T5 of the KÖTTER Security Company
This German family business was founded in 1934 as a guard and protection company.
It is in the Sixties that this one will develop on the fiduciary transport in West Germany.
Armored VW T5 from LOOMIS Deustchland
LOOMIS Deutschland entered the German market in 2018 by acquiring the Company KÖTTER Security and taking over part of its fleet of vehicles.
MERCEDES Armored Sprinter from ZIEMANN Company
In January 2019, the Swedish LOOMIS Group wanted to take over ZIEMANN, but the German federal authorities, through the Federal Cartel Office (Bundeskartellamt) prohibited the transaction under the law against the risk of impeding competition in the German regional markets in cash services.
PROSEGUR armored van in front of the BANDEBOURG Gate in Berlin
Indeed, the leading cash services company in Germany is PROSEGUR, and with the takeover of LOOMIS by ZIEMANN, there would have been only two major competitors left.
PROSEGUR van in front of the Olympic Stadium in Berlin
The international Spanish company PROSEGUR entered the German market in the early 2010s and over the years has taken over many small CIT companies.
It is at the beginning of the years 2015 that it obtains the first place in Germany.
Truck of the Company SAT Security & Transport
Its purchases are permanent on small local cash-in-transit companies as in 2019, with the Company SAT Security & Transport GmbH bought in 2019, and more recently the Company HÜNERBERG in October 2021.
100% electric MAN van from PROSEGUR
PROSEGUR is renewing its fleet of vans with fully electric vehicles in order to meet the environmental concerns of the Germans.
An ATM Mobile (Automated Teller Machine) from PROSEGUR
Within the framework of its development, it also proposes services of mobile vehicles with automatic teller machines for banks in work which want that their customers are always in contact with their bank or at the time of important gatherings of people such as festivals or sporting events.
DEUTSCHEBANK truck during a transfer
It can be observed that the profession of courier has become more feminine.
The future for cash and value transport is uncertain: the cash transport environment is currently impacted by various pressures, such as the "political" pressure to reduce cash volumes in Germany, new regulations that increase the pressure on transport costs (automatic marking in case of theft and minimum sums entrusted in cash transport according to the sums transported), as well as fewer and fewer bank branches on German territory to supply.
Changes in purchasing behavior will also impact the cash payment method: the rise of digital payments will accelerate the decrease in cash volumes, which has been accentuated with the COVID virus since 2020 by favoring these means to pay for all kinds of purchases.
Two trucks of the DEUTSCHE BUNDESBANK during a transfer
As for the transports of the Federal Bank of Germany (Deutsche Bundesbank), this one does not subtract as one can see it in certain Western countries.
German police officers performing a protection bubble
It ensures itself its transfers from the bankbills printing factories to its central bank and to the other German federal branches distributed in the Länder.
Two DEUTSCHE BUNDESBANK trucks during a transfer
The German Federal bank has a fleet of about 20 armored trucks escorted by the German police.
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